In the News: No more Barneys Dubai

Barneys NY received an unsolicited bid from a Japanese company to acquire Barneys for $900 million, which tops Istithmar's bid to buy the upscale clothing chain for $825 million. Barneys would have to pay Istithmar a $20.6 million breakup fee if it terminated their agreement now, or $22.7 million if it terminated the deal after July 22.

Did my post jinx Istithmar? Does that mean the giant luxury department store will no longer open in Dubai? I guess so.

Comments

Anonymous said…

Knowing Emiraatis; they are quick operators. They will buy majority stake in the Japanese company that will eventually acquire Barney's.
And closer to home, is Kuwait Inc. serious about taking over Harrods of Knightsbridge ??
Gosh! I don't know about a take over but that store could seriously use a long overdue makeover, for sure.

06 July, 2007

Confashion said…

you're predictions might be true.. I guess we'll just have to wait and see..

Makeover or no Makeover, what matters to me is what's in the inside :P

06 July, 2007

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