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Fortune
Fortune
Chris Morris

Neiman Marcus turns down $3 billion takeover offer from Saks Fifth Avenue

Neiman Saks Neiman Marcus
(Credit: Noam Galai—Getty Images)

Two of the biggest names in luxury retail are in talks to become one.

Saks Fifth Avenue has offered $3 billion to acquire Neiman Marcus, according to the Wall Street Journal. And while that offer was rejected, the two companies are continuing negotiations.

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