Neiman-Marcus Holders to Vote

07/08/05 - 11:35 AM EDT

TSC Staff

Neiman Marcus (NMGA Quote) set Aug. 16 as the date for a shareholder vote on its buyout at the hands of private equity firms Texas Pacific Group and Warburg Pincus.

The Dallas-based luxury retailer said it will mail proxy statements on the $5.1 billion deal next week. The special meeting of stockholders will start at 8 a.m. EDT at the Marriott Boston Newton Hotel, 2345 Commonwealth Ave., Newton, Mass.

The calendar move comes a day after Neiman posted its latest strong sales results. The company, which operates Neiman Marcus and Bergdorf Goodman stores, showed a 9.2% same-store sales rise for June as the entire retail industry reported an unexpectedly hot performance.

On Friday, Neiman Marcus shares slipped 12 cents to $96.76.

Your Recent Quotes: Quote Up0 | Quote Down0
 
Dow S&P 500 NASDAQ
Oil*
65.43
8,280.74
896.42
1,796.52
10 Yr
3.50%
223.32
26.91
49.20
-2.63%
-2.91%
-2.67%
Data delayed 20 min
Get Jim Cramer's Free Newsletter

The Daily Booyah!
Get your daily dose of Cramer in your inbox.
Submit
We respect your privacy.

Premium Stock Ideas
Access Action Alerts Plus to find out Cramer's latest picks now!

Brokerage Partners