Online store The Neiman Marcus Group Inc announced that, based upon discussions with the investment group consisting of Texas Pacific Group and Warburg Pincus LLC, the Company currently expects to complete the pending merger transaction in October 2005.
Under the merger agreement, which was approved by the Company's stockholders on August 16, 2005, the Company will be acquired by an entity currently indirectly owned by private equity funds sponsored by TPG Advisors III Inc, TPG Advisors IV Inc, Warburg Pincus & Co, Warburg Pincus LLC and Warburg Pincus Partners LLC. Company stockholders will receive $100.00 per share in cash, without interest, following completion of the merger.
Nation's department store merchandiser The Neiman Marcus Group Inc operations include the Specialty Retail Stores segment and the Direct Marketing segment. The Specialty Retail Stores segment consists primarily of Neiman Marcus and Bergdorf Goodman stores.
The Direct Marketing segment conducts both print catalog and online operations under the Neiman Marcus, Horchow and Bergdorf Goodman brand names. The Neiman Marcus Group has stayed focused on serving the unique needs of the luxury market.
The Neiman Marcus Group Inc
marketing@alchempro.com
