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August 02, 2007
Jones Mulls "Superior" Bid For Barneys
Jones Apparel Group reported a second quarter loss of $47.1 million, compared to income of $36.6 million a year ago. At the same time the company said that it’s still mulling Fast Retailing Co. Ltd.’s $900 million bid for Barneys New York.
Jones already accepted Dubai-based Istithmar’s $825 million offer, but Jones’ board recently dubbed Fast Retailing’s bid as “superior.”
It remains to be seen which suitor will get the upscale retail chain and if the transaction will boost Jones’ bottom line.
Posted by Blacks on August 2, 2007 02:35 PM
