Neiman Marcus Group (NMG), the parent company of Neiman Marcus and Bergdorf Goodman, has agreed to be acquired by HBC, the parent company of Saks Fifth Avenue, for a total enterprise value of $2.65 billion.
Upon close of the transaction, HBC will establish Saks Global—a combination of world-class luxury retail and real estate assets, including Saks Fifth Avenue, Saks OFF 5TH, Neiman Marcus and Bergdorf Goodman, each of which will continue to operate under their respective brands.
The S&C corporate team advising NMG includes Melissa Sawyer, Lauren Boehmke, Lisa Morales and Charlie Wowk. Renata Hesse, Samantha Hynes and Michael Rosenthal are advising on antitrust matters. Jeannette Bander is advising on executive compensation matters. Neal McKnight and R. Courtland Morrice are advising on finance matters. Davis Wang and Ha Jin (Tessa) Lee are advising on tax matters. Mehdi Ansari is advising on intellectual property matters. Rob Schlein and Danielle Schulweis are advising on real estate matters.