Barneys New York

By Michael Fowlkes Also making news this morning was the company's decision to sell its subsidiary Barneys New York Inc. The company has accepted a $900 million offer from Fast Retailing. Jones bought Barneys New York, a chain of upscale department stores, for $400 million.

By Eric Buscemi Filed under: Deals, Jones Apparel Group (JNY)Yesterday's unsolicited non-binding proposal for $900 million from Fast Retailing to purchase Barneys increases the likelihood that private equity will revisit Jones Apparel Group Inc (NYSE: JNY). In 2006, Jones explored the private eq...

By Zac Bissonnette This should be interesting to follow, as investors from Japan and Dubai are battling for Barneys New York. Fast Retailing's offer is about 9% better than the agreement with Istithmar, and could lead to higher valuations for other high-end department stores like Bloomingdales, owned by...

By Melly Alazraki Jones Apparel Group Inc. (NYSE: JNY), which has already agreed to sell Barneys New York Inc. to Istithmar for $825 million in cash, received an unsolicited bid from Fast Retailing Co. Ltd. to acquire Barneys $900 million in cash. The breakup fee for Jones deal with Istithmar is $20 million. JNY s...

By Eric Buscemi Filed under: Deals, Rumors, Jones Apparel Group (JNY)It's possible that Istithmar, the private-equity arm of the Dubai government, is grimacing today, after news of a higher bid for Jones Apparel Group Inc's (NYSE: JNY) Barneys New York unit surfaced. Under the terms of their agreemen...

By Melly Alazraki Jones Apparel Group Inc. (NYSE: JNY) announced at the close on Friday that it has entered into a definitive agreement to sell Barneys New York to an affiliate of Dubai-based investment firm Istithmar for $825 million, double what it paid for the chain in December 2004. JNY already closed up...

By Eric Buscemi Because of the desire for luxury goods, Barneys has been sought after by publicly-traded companies as well as private-equity groups. There is strong market speculation that Istithmar, the investment arm of the Dubai government, could be the victor in the race for Barneys. Istithmar has...