By  on December 17, 2007

NEW YORK — As the holiday shopping season enters its final phase, the clock also is ticking on Icelandic firm Baugur Group's potential bid for Saks Inc.

The speculation in the financial community is that once the holiday season is over, Baugur could move in on the $3 billion Saks. The firm said in a November regulatory filing that it was eyeing Saks and might pursue a joint bid with Milestone Resources Group Ltd., also known as Landmark Group. The Dubai-owned Landmark Group, which also owns shares of Saks, has had "exploratory discussions" with Baugur, according to the filing.

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