Istithmar Prevails in Bidding War Over Barneys

Barney  New York, the fashion icon owned by Jones Apparel Group, is a much desired company.  Istithmar, a private equity firm that is an arm of the Dubai government, raised its bid to $942 million ($117 million more than its original offer) in response to the competing offer from Fast Retailing, a Japanese clothing conglomerate.  Although Fast Retailing had until 5 p.m. today to raise its offer, it announced that the price was too high for it.  NYTimes, Original Suitor Sweetens Its Barneys Offer to $942 Million; WSJ, Fast Retailing Pulls Out Of Bidding War for Barneys.