Saks Buyout Getting Closer?

Baugur has stepped up its takeover interest in Saks, the New York-based luxury retailer, by hiring NM Rothschild and Financo, a U.S. corporate-finance boutique, to advise on the deal. The privately owned Icelandic company announced at the end of last month that it could make a joint bid with Dubai’s Landmark Group. It is expected that any takeover bid for Saks would be worth between $3 billion and $4 billion.