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Report: Neiman-Marcus, Hudson’s Bay Company seek loans
Dallas – Neiman-Marcus Group Inc. and Hudson’s Bay Company (HBC) are reportedly seeking loans to support merger and acquisition activity.
According to Bloomberg, Neiman-Marcus is trying to secure $3.75 billion in loans to support its planned buyout by Ares Management LLC and the Canada Pension Plan Investment Board. That figure reportedly includes a $2.95 billion term loan and an $800 million asset-backed loan.
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Giant-Carlisle turns 90
Ahold USA-owned supermarket chain Giant Food Stores celebrated its 90th birthday.
The supermarket banner, which operates nearly 200 stores under the Giant and Martin's Food Markets brands in Pennsylvania, Maryland, Virginia and West Virginia, marked its anniversary Friday morning at a store in its hometown of Carlisle, Pa. Customers at all the company's 200 stores will receive free slices of cake and free apple slices Friday.