General

You say you want marketing news and commentary? Well, you came to the right place. The Big Fat Marketing Blog is updated daily by the editors of Chief Marketer, Direct, Promo and Multichannel Merchant. Opinions? Oh yeah, we got em'. Don't say we didn't warn ya'.

Saks for Sale?

Tim Parry August 31st, 2010

Could be. This just in this morning from New York Times’s DealBook blog. The blog got its information from The Daily Mail, which reports:

Rumours emanating from Manhattan suggest a private equity consortium, comprising both U.S. and U.K. players, has for months been stalking Saks Inc., which owns Saks Fifth Avenue, one of the most prestigious U.S. retailing chains.

Due diligence is said to be almost complete and a cash bid of $1.7 billion (£1.1billion), or $11 a share, could be tabled soon. Saks yesterday traded below $7 on Wall Street.

What do you think? Is Saks worth the rumored $1.7 billion offer?