NEW YORK — Activity on Saks Inc. stock simmered down Thursday as attention shifted to Saks chairman and chief executive officer Stephen I. Sadove, his motivations for engineering a sale of the luxury chain and the list of potential buyers.
“There is a process going on. Saks has a data room set up. People are kicking the tires,” said one retail source. “Due diligence is going on. It’s virtual, but Saks is granting access to interested parties. They’re starting to hear from bankers, the Street and some big private equity firms — all the usual suspects,” the source said, mentioning the likes of Thomas Lee and Leonard Green.
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