Neiman-Marcus Holders to Vote

The luxury retailer sets Aug. 16 as the date for a shareholder meeting on its big buyout.
Author:
Publish date:

Neiman Marcus

(NMGA)

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.