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Canada's Hudson's Bay in talks to buy Neiman Marcus: WSJ
March 14, 2017 / 3:07 PM / 9 months ago

Canada's Hudson's Bay in talks to buy Neiman Marcus: WSJ

(Reuters) - Canada’s Hudson’s Bay Co (HBC.TO) is in talks to buy U.S. luxury fashion retailer Neiman Marcus Group LLC [NMRCUS.UL], turning its focus away from Macy’s Inc (M.N), the Wall Street Journal reported on Tuesday.

A man exits a Hudson's Bay department store in Toronto, Ontario, Canada June 6, 2016. REUTERS/Chris Helgren/File Photo

Neiman Marcus said on Tuesday it was exploring strategic alternatives, including a sale.

Hudson's Bay is seeking a deal that would not include Neiman's $5 billion debt, the Journal reported, citing people familiar with the matter. (on.wsj.com/2mnSePK)

Reuters reported this month that Hudson’s Bay had yet to line up equity financing for a bid for Macy‘s, over a month after approaching it for a merger.

Reporting by Richa Naidu in Bengaluru; Editing by Sai Sachin Ravikumar

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