Securities Law Prof Blog

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

Thursday, August 9, 2007

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.

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