Retail Detail. Another Bid for Barneys. $900 million from Fast Retailing Co. in Japan. Second City Style Fashion Blog

July 5, 2007 • Shopping


Goodness, I hope all Barneys’ employees are going to get a raise. WWD reports that the Japanese retail company Fast Retailing tried to outbid the Dubai-based Istithmar’s $825 million bid for the Jones company. Either way is fine with me, as long as their still stocking my favorites and Simon Doonan keeps his dayjob…– Joanne Molina, Senior Editor

Rival $900 Million Bid for Barneys
Published: Thursday, July 05, 2007

Tokyo-based specialty retailer Fast Retailing Co. on Thursday made an
unsolicited $900 million bid for Barneys New York to Jones Group,
trumping a rival $825 million offer from Dubai-based equity fund

The bid represents a 9 percent premium over Istithmar’s. Fast Retailing
said in a statement that it “had previously communicated its interest
in acquiring Barneys to Jones last fall and is submitting its proposal
under the provisions of the Jones agreement with Istithmar, which
allows Jones to consider superior proposals for Barneys if received
prior to July 22, 2007.”

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