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New Economy, Leadership, Entrepreneurship, Management, Global Business

Japanese Retailer Drops Bid For Barneys

Posted by iBlog on August 9, 2007

TOKYO – Fast Retailing of Japan said Thursday it is dropping its attempt to buy U.S. luxury chain Barneys New York Inc., ending its bidding war with an affiliate of Dubai-based Istithmar PJSC.

Apparel designer and marketer Jones Apparel Group Inc. (nyse: JNYnews people ) said Wednesday it signed a definitive agreement to sell Barneys to a Dubai investment company, which was forced to sweeten its bid because of Fast Retailing’s counter offer.

Read the full article in Forbes.com

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