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Reports: Lord & Taylor Owner May Buy Saks Fifth Avenue

By Rob Bates, Senior Editor
Posted on June 25, 2013
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So Saks and Neiman Marcus aren’t going to merge. But what about Saks and Lord & Taylor?

Canadian department store Hudson’s Bay Co., which owns the Lord & Taylor department store chain, wants to buy another big U.S. name, Saks Fifth Avenue, The New York Times, The Wall Street Journal, and other news media report.

If the deal goes through, the stores would remain under the Saks name, according to the news outlets.

Saks has reportedly recruited investment bank Goldman Saks to explore the option for the publicly traded company.

Hudson Bay is headed by real estate mogul Richard Baker, who briefly owned jewerly chain Fortunoff.

 

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