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Latest SPG News From Around the Web
Below are the latest news stories about Simon Property Group Inc that investors may wish to consider to help them evaluate SPG as an investment opportunity.
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Major U.S. mall owners have been increasingly looking for deals to salvage retailers - in many cases major tenants - that have been hit hard by the coronavirus pandemic.The latest? A company known as Sparc, which is comprised of Simon Property Group (SPG) and Authentic Brands, has been designated as...
A retail venture owned by licensing company Authentic Brands Group and mall owner Simon Property Group has agreed to buy Brooks Brothers for $305 million
A shopping-mall giant and a brand-licensing firm have offered to buy Brooks Brothers out of bankruptcy for $305 million. Sparc Group LLC — a partnership between Authentic Brands Group and Simon Property Group, the nation’s largest mall operator — announced its bid late Thursday to acquire “substantially all” of Brooks Brothers’ global operations along with…
Mall Operator Simon And Authentic Brands Jointly Make $305M Stalking Horse Bid For Bankrupt Brooks Brothers
Brooks Brothers Inc. announced Thursday it was seeking a bankruptcy court’s permission to enter an asset purchase deal with Sparc Group LLC, a joint venture between the Barneys and Nautica brands owner Authentic Brands Group LLC and mall operator Simon Property Group Inc (NYSE: SPG ). What Happened Sparc is offering to buy all of the beleaguered retailer’s worldwide business operations for $305 billion and will continue to operate 125 of Brooks Brother’s retail locations. A United States … Full story available on Benzinga.com
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(Bloomberg) -- The race to purchase Brooks Brothers Group Inc. out of bankruptcy is on as brand manager WHP Global and a group of Italian companies prepare bids following Authentic Brands Group LLC and Simon Property Group Inc.’s $305 million offer.Sparc Group LLC, which is backed by Barneys New York owner Authentic and mall landlord Simon, agreed to make a $305 million bid in a court-supervised auction for Brooks Brothers’ global business operations, according to a statement.The group has committed to take on at least 125 of the clothing stores in its so-called stalking-horse bid, which sets a minimum price for the auction. A higher bid could still emerge before an Aug. 5 deadline as other firms prepare competing offers.WHP Global, which owns the Joseph Abboud and Anne Klein brands, is...
Janet Kloppenburg of JJK Research joins Yahoo Finance’s Alexis Christoforous and Brian Sozzi to discuss how the back-to-school debate is impacting retailers, the future of the mall and Brook Brothers, in addition to the latest on Kayne West.