By and  on July 23, 2013

A major Saks Inc. shareholder sold off millions of shares in the past few days at about $15 a share, capitalizing on a price that’s increased since the luxury chain went up for sale.

Sources believe Southeastern Asset Management Inc. was the seller of a major chunk of Saks stock. The investment advisory firm did not return a request for comment Tuesday, but a block of 3.7 million shares of Saks was sold at about $15.20 late Monday.

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