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Neiman Marcus Files for $100M IPO

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After months of speculation, high end department store chain Neiman Marcus filed registration for a $100 IPO, according to Reuters. The chain, which was bought in a leveraged buyout by TPG Capital and Warburg Pincus in 2005, currently operates 41 stores.

Earlier this year, Neiman Marcus reportedly declined a merger offer from rival Saks Fifth Avenue, which is owner by KKR. According to a previously published story in The Wall Street Journal:

"The merger proposal as envisioned valued their high-end retailer too low and could be hard to pull off, with stores in overlapping markets and a trio of buyout firms involved in the negotiations, one of the people said. It isn't clear what value the proposal placed on Neiman. "

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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