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Neiman Marcus Files for $100M IPO

Neiman Marcus Files for $100M IPO

After months of speculation, high end department store chain Neiman Marcus filed registration for a $100 IPO, according to Reuters. The chain, which was bought in a leveraged buyout by TPG Capital and Warburg Pincus in 2005, currently operates 41 stores.

Earlier this year, Neiman Marcus reportedly declined a merger offer from rival Saks Fifth Avenue, which is owner by KKR. According to a previously published story in The Wall Street Journal:

"The merger proposal as envisioned valued their high-end retailer too low and could be hard to pull off, with stores in overlapping markets and a trio of buyout firms involved in the negotiations, one of the people said. It isn't clear what value the proposal placed on Neiman. "

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