Report: Neiman Marcus in advanced talks for $6 billion sale to Ares, Canada Pension Plan + MORE Sep 9th

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BEIJING, China – China’s August inflation edged down as an economic recovery gathered strength, easing pressure on communist leaders who want to focus on longer-term reforms.
Consumer prices rose 2.6 per cent, down from July’s 2.7 per cent, government data showed Monday. Food prices rose 4.7 per cent, down from the previous month’s 5 per cent.
Slower price rises and improved economic activity could allow Chinese leaders to shift attention from propping up weak growth to work on longer-term reforms to make the economy more efficient and productive.
Communist leaders are trying to nurture more self-sustaining growth driven by domestic consumption instead of trade and investment. They have backtracked in some areas to perk up growth with more spending on railway construction and other limited measures but have resisted pressure for a more ambitious stimulus.
Economic growth declined to a two-decade low of 7.5 per cent in the second quarter but trade, factory output, auto sales and other indicators suggest the slowdown is levelling out…

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Luxury retailer Neiman Marcus Inc. is reportedly in talks to be bought by Los Angeles-based asset manager Ares Management LLP and the Canada Pension Plan Investment Board for more than $6 billion.
That’s according to unidentified people familiar with the matter cited Sunday by The Wall Street Journal.
The newspaper said the parties were attempting to finalize a deal, although talks could still fall apart.
Representatives for Ares, Canada Pension Plan and Neiman Marcus did not return messages seeking comment.
Private equity firms TPG Capital and Warburg Pincus bought Neiman Marcus for $5.1 billion in 2005. The Dallas company filed for an initial public offering of stock in late June. Founded in 1907, it operates 41 Neiman Marcus stores and other shops including 35 stores under the Last Call brand.
The post Report: Neiman Marcus in advanced talks for $6 billion sale to Ares, Canada Pension Plan appeared first on Canadian Business.

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Moves come in response to proposed rules from Canadian Securities Administrators would limit which assets they could invest in

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