Neiman Marcus Group is moving closer to an initial public offering, as support from bankers and investors grows and other sale strategies get eliminated.
In recent weeks, merger talks with Saks Inc. were explored and NMG’s owners, TPG and Warburg Pincus, held discussions with possible buyers, such as the sovereign wealth fund of Qatar. However, it is now believed that the two private equity owners view an IPO as the best exit strategy. Last week, Hudson’s Bay Co. reached a definitive agreement to buy Saks, leaving one less player in the field that could have pursued a deal for Neiman’s.
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