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Neiman Marcus Group Ltd Inc Announces Entry Into Material Definitive Agreement - Form 8-K

Wednesday, 11 Sep 2013 10:49am EDT 

Neiman Marcus Group Ltd Inc reported in its Form 8-K that it has entered into an Agreement and Plan of Merger, dated as of September 9, 2013 (the Merger Agreement), with NM Mariposa Holdings, Inc., a Delaware corporation (Parent”), and Mariposa Merger Sub LLC, a Delaware limited liability company (Merger Sub). Parent and Merger Sub are entities owned by an investment group consisting of investment funds affiliated with Ares Management LLC and Canada Pension Plan Investment Board. Under the Merger Agreement, the Company will be acquired for a purchase price based on a total enterprise value of $6.0 billion. A portion of the purchase price will be used at the closing to repay all amounts outstanding under the Company’s existing bank credit facilities. The currently outstanding 7.125% Senior Debentures due 2028 issued by the Company’s operating subsidiary, The Neiman Marcus Group, Inc., are expected to remain outstanding immediately following the closing of the transaction in accordance with the terms of the indenture governing such debentures. 

Company Quote

-2.05 -0.57%
26 Aug 2014