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(Reuters) – The mother or father of Saks Fifth Avenue sealed a $2.65 billion deal to purchase rival Neiman Marcus with a little bit assist from Amazon (NASDAQ:), the Wall Avenue Journal reported on Wednesday, citing individuals conversant in the matter.
The boards of each the businesses have accepted the transaction and an announcement might come as quickly as this night, the report stated.
The Wall Avenue Journal added Amazon would take a minority stake within the new firm, which might be known as Saks International, and plans to offer it with expertise and logistical experience.
Amazon didn’t instantly reply to Reuters request for a remark.
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