Japanese Retailer Makes Unsolicited Bid for Barneys
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Another shopper has rung up Barneys New York, the high-end fashion emporium that is being sold to the investment arm of the Dubai government for $825 million.
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Jones said the deal is valued at approximately $400 million, including cash consideration of $19 per share to Barneys stockholders totaling $294.
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US banking giant Citigroup offers 1.253 trillion yen to buy Nikko Cordial, Japan's third-largest brokerage.
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Levi Strauss &amp; Co. has done a U-turn on the sale of its Dockers casual clothing business. Having originally explored selling the brand Levi&#39;s now says there is more value in keeping it.
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Coles Myer, the Australian retailer, rejected a $13 billion offer from buyout firms led by Kohlberg Kravis Roberts & Company as too low. The offer, 14.50 Australian dollars ($11.16) a share, Âsubstantially undervaluedÂ the company, said Coles MyerÂs chairman, Richard H. Allert. The bidding group, which includes Bain Capital and the Blackstone Group, wanted management backing for the offer, Mr. Allert said. Coles Myer, which is based in Melbourne, has about 35 percent of AustraliaÂs grocery market, and Woolworths, based in Sydney, has about 40 percent.
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The Jones Apparel Group, a $4.3 billion clothing company with a middle-brow reputation, announced a deal today to buy Barneys New York, the singularly trendy clothing chain that has its flagship store on Madison Avenue.
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Jones Apparel Group Inc.  said on Thursday it received an unsolicited bid from Fast Retailing Co. Ltd. to acquire Barneys New York Inc. for $900 million, which tops Jones' existing pact to sell the luxury department store chain for $825 million.
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The Jones Apparel Group, a $4.3 billion clothing company with a middle-brow reputation, is close to making a deal to buy the totally trendy Barneys chain.
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NEW YORK -- In its first foray into the luxury market, shoe and clothing marketer Jones Apparel Group Inc. is buying upscale clothier Barneys New York Inc. for $294 million in cash.
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Australia's second-biggest retailer,   Coles Myer Ltd., on Wednesday rejected a A$17.3 billion ($13.3   billion) buyout bid by a private equity consortium, saying it   substantially undervalued the company.
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Circuit City Stores Inc. CC.N, the  No. 2 U.S. consumer electronics chain, on Tuesday said it had  received an unsolicited takeover offer of $17 a share.
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The Gallaher Group, maker of Benson & Hedges and Silk Cut cigarettes, confirmed that it had received a takeover approach from a bidder it did not identify, setting off a 22 percent gain in its share price. Gallaher confirmed the bid in a statement to the London Stock Exchange after the market closed Wednesday. The bid reinforced recent speculation that the tobacco industry is due for consolidation and shares rose across the sector. ÂWe see the tobacco sector broadly benefiting from the Gallaher approach,Â said a Goldman Sachs analyst, Mark Lynch. ÂExpectations of industry consolidation have been widespread for many years.Â Analysts said one potential bidder for Gallaher would be Japan Tobacco. Gallaher has long been linked to Japan Tobacco, as it holds the right to market and sell Japan TobaccoÂs Camel cigarettes in parts of Europe. Credit Suisse said a tie-up between the two would be a Âparticularly good strategic fit.Â It would address Japan TobaccoÂs subscale position in Western Europe and strengthen its competitive position in Eastern Europe, the brokerage firm said.
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The Jones Apparel Group is near an agreement to sell Barneys New York for about $825 million to the investment arm of the Dubai government.
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The Tokyo Stock Exchange said on Monday it would not strip Nikko Cordial Corp.  of its share listing over an accounting scandal, a surprise decision that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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The Tokyo Stock Exchange said on Monday it had decided not to strip Nikko Cordial Corp.  of its share listing over an accounting scandal, a surprise decision that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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Mid-priced clothing retailer and maker Jones Apparel Group Inc. said on Thursday it was buying Barneys New York Inc. in a $400 million deal to boost its retail business and move into luxury apparel.
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NEW YORK  - Circuit City Stores Inc. , the No. 2 U.S. consumer electronics chain, on Tuesday said it had received an unsolicited takeover offer of $17 a share.