Saks Parent Acquires Neiman Marcus for $2.65 Billion with Amazon and Salesforce Support

Jul 3, 2024, 08:06 PM

The parent company of Saks Fifth Avenue has finalized a $2.65 billion deal to acquire its rival, Neiman Marcus. The transaction is supported by Amazon, which will take a minority stake in the newly formed entity, to be named Saks Global. Salesforce is also involved in the deal. This merger is expected to create a significant player in the retail industry. WSJ reports.