HBC, parent company of Saks Fifth Avenue, to acquire Neiman Marcus Group


Saks Fifth Avenue store at Waterside Shops.

John Greim | LightRocket | Getty Images

HBC, the parent company of Saks Fifth Avenue, said Thursday that it will acquire Neiman Marcus Group in a $2.65 billion deal that will include both iconic retailers.

The combination would create Saks Global, which would include Saks Fifth Avenue, Saks Off 5th, the well-known department store chain Neiman Marcus, and Bergdorf Goodman.

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