The parent of Saks Fifth Avenue sealed a US$2.65-billion deal to buy rival Neiman Marcus with help from Amazon, media reported
, taking a minority stake in the new company, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.
The boards of Saks parent HBC and Neiman Marcus have approved the transaction, and an announcement could come as soon as this evening, the Wall Street Journal report said. Salesforce would be another minority shareholder, and assist with the adoption of artificial intelligence, the Wall Street Journal said, citing a source.
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