Saks Owner to Acquire Neiman Marcus – Report

The owner of Saks Fifth Avenue has acquired Neiman Marcus Group in a $2.65 billion deal, according to a report in The Wall Street Journal.

Amazon helped finance the deal alongside existing Saks investors, sources told WSJ, which will result in a new entity known as Saks Global. Saks owner HBC, or Hudson’s Bay Company, and Amazon will both retain a minority stake in the new company. Other minority shareholders include Salesforce, the report…