Saks Evades Takeover Bid - For Now
On Friday the New York Post reported that Saks (SKS) is unlikely to face a takeover bid from the Baugur Group an international investment firm in the coming year.For those unaware Baugur had expressed interest in the New York-based retailer as recently as a few weeks ago. Now however “tight credit markets and a poor economic outlook have made financing all but impossible at current prices.”Unsurprisingly Saks’ stock took a bit of pummeling on the news dropping about 7.1% from the prior day’s close before recouping most of those losses to close down only a fraction on Friday.  Want ...
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