NEW YORK (AP) — Ares Management and a Canadian Pension said on Monday that they are buying the luxury chain Neiman Marcus for $6 billion.
The deal, which is expected to be finalized in the fourth quarter, would end control of the luxury retailer by private equity firms TPG Capital and Warburg Pincus. The equity firms bought the company for $5.1 billion in 2005.
In June, the equity firms filed a plan for Neiman Marcus to go public.
Neiman Marcus, based in Dallas, operates 79 stores.
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Arby's And Wendy's
In 2008, <a href="http://abcnews.go.com/Business/IndustryInfo/story?id=4717253">the owner of Arby's bought Wendy's for $2.34 billion</a>. Only three years later, <a href="http://dealbook.nytimes.com/2011/06/13/wendys-sells-arbys-to-private-equity-group/">Wendy's decided to sell Arby's to a private equity group</a> after the roast-beef sandwich chain <a href="http://www.forbes.com/sites/heatherstruck/2011/06/13/wendys-to-sell-arbys-in-430-million-deal-with-roark-capital/">continually struggled to grow its profits</a>.
Bank Of America And Countrywide
Bank of America's acquisition of mortgage lender Countrywide in 2008 would later be <a href="http://online.wsj.com/article/SB10001424052702303561504577495332947870736.html?mod=WSJ_hps_LEFTTopStories">referred to as</a> "the worst deal in the history of American finance." The bank paid just $2.5 billion for Countrywide, a deal that ended up costing the bank more than $40 billion.
Kmart And Sears
For $11 billion, <a href="http://www.nbcnews.com/id/6509683/#.USPuNuhi4gA">Kmart acquired Sears in 2005</a>. Sears' <a href="http://www.nytimes.com/2010/12/22/business/22sears.html?pagewanted=all">revenue dropped by more than 10 percent in the years following the merger</a>, according to the New York Times. Eddie Lampert, the investor in charge of the deal and CEO of Sears, <a href="http://247wallst.com/2007/12/06/herb-greenberg/">was deemed the worst CEO of the year</a> in 2007.
eBay And Skype
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AOL And Time Warner
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Sprint And Nextel
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Quaker And Snapple
Quaker acquired Snapple in 1994 for $1.7 billion. Just 27 months later, <a href="http://articles.latimes.com/1997-03-28/business/fi-42931_1_quaker-bought-snapple">Quaker sold the company for $300 million</a>.
Daimler-Benz And Chrysler
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New York Central And Pennsylvania Railroads
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