Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Stock Alert From - Saks Inc, SKS

|Includes: Saks Incorporated (SKS)


Company: Saks Inc, SKS

Price: 7.94

Change: 20.12%

Volume: 35.9M

Saks Inc (SKS.N) shares surged 22 percent on Tuesday after a published report that a group of private equity firms may soon launch a bid for the New York-based luxury department store operator.

The Daily Mail, a British newspaper, said a consortium of U.S. and British firms may make a cash offer of $11 per share, or $1.7 billion in all, for the company. The report did not cite sources or name the firms that might bid.

Saks shares were up $1.45, or 22 percent, to $8.05 in afternoon trade but were well short of a 52-week high of $10.65 reached in April. Prior to the Daily Mail report, the company had a market value of $1.06 billion.

A Saks spokeswoman said in an email that the company does not comment on rumors or speculation.

The chain, known for its flagship store on Manhattan's Fifth Avenue, has been the object of repeated takeover speculation in recent years, with media reports saying potential bidders included buyout firms Cerberus Capital Management [CBS.UL] and Britain's Permira [PERM.UL].

Its shares have languished with doubts about the pace of a U.S. economic recovery, though it says its core clientele of wealthy customers is still buying.




The Views and Opinions Expressed by the author are his or her opinions only and do not necessarily reflect those of this Web-Site or its agents, affiliates, officers, directors, staff, or contractors. The author at the time of this article did not own any shares or receive any consideration financial or otherwise from any company or person mentioned or referred to in the article.


Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold report and Crown Equity Holdings Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (Read more at Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings Inc. (OTCPK:CRWE) is a newswire as well as an IR and PR firm. Crown Equity Holdings Inc. (OTCPK:CRWE), in some cases, provides media advertising and public awareness for both public and private companies, as well as disseminating news. As such, in some cases, when Crown Equity Holdings Inc. (OTCPK:CRWE) advertises for a particular client, Crown Equity Holdings Inc. (OTCPK:CRWE) charges an advertising fee which it must disclose under 17B. The fee may be in cash, in free trading stock or in restricted stock. Crown Equity Holdings Inc. (OTCPK:CRWE), if paid in stock, can and may sell those securities during the advertising period

Disclosure: SKS, YHOO