Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Thursday, July 5, 2007

Auctioning Off Barneys

A few weeks ago I mentioned how stunned I was at the thought of that quintessential New York fashion icon, Barneys New York, being owned by a branch of the Dubai government.  Now I may have to reorient my thinking once again.  Fast Retailing, Japan's largest mass-marketer, announced that it made a $900 million offer, topping Istithmar's $825 million deal.  If Jones Apparel (owner of the Barneys New York division) breaks the deal, it will have to pay a termination fee of $20.6 million or $22.7 million, depending on the date.  See WSJ, Fast Retailing Offers $900 Million For Jones Apparel's Barneys Unit.

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