Deals and IPOs

Saks Possibly Opening Up to Buyers' Offer: Paper


Luxury retailer Saks could be opening up to the possibility of a sale and may have at least two interested buyers, Women's Wear Daily reported Monday.

The names of the parties that had expressed an interest in Saks   was not known, WWD said.

Quoting financial and industry sources, the trade publication said Saks, which has turned down such offers until now, has changed its sentiment about considering them, and was approached by at least one party proposing the idea of an acquisition two weeks ago.

Likely candidates, according to sources, could include private equity firm Cerberus Capital Management, Britain's Permira, French retailer PPR and Icelandic company Baugur Group, WWD said.

Saks could not be reached immediately for comment.

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