Reported about 11 hours ago
Saks Fifth Avenue's parent company is in talks to sell a 49% stake in Bergdorf Goodman for $1 billion, attracting interest from several bidders, including Middle Eastern sovereign-wealth funds. Executive chairman Richard Baker emphasized that the strategic move aims to unlock value for stakeholders while reducing business leverage. Bergdorf Goodman, established in 1899 and known for luxury brands, is poised for a potential deal by 2026.
Source: YAHOO