On Air Now

Upcoming Shows

Program Schedule »

Tune in to Listen

1440 AM Green Bay, WI

Weather

Current Conditions(Green Bay,WI 54303)

More Weather »
75° Feels Like: 75°
Wind: NNW 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Thunderstorms 73°

Tonight

Thunderstorms Early 59°

Tomorrow

Partly Cloudy 77°

Alerts

  • 0 Severe Weather Alerts
  • 0 Cancellations

Private equity firms eye Neiman Marcus Exit: Bloomberg

NEW YORK (Reuters) - Private equity firms TPG Capital and Warburg Pincus LLC are exploring a sale or a public offering of Neiman Marcus Group Inc, according to a Bloomberg News report late on Sunday.

The private equity firms, which bought the Dallas-based retailer in 2005 for $5.1 billion, have interviewed banks and are about to hire Credit Suisse Group AG to run the dual track process, according to the report, which cited two people familiar with the situation.

A Credit Suisse spokesman declined to comment. E-mails to Warburg, Neiman Marcus and TPG were not immediately returned.

TPG and Warburg are in the early stages of exploring their options and if they do not find a buyer or demand is weak for an IPO, they may decide to pursue a dividend recapitalization instead, according to the report.

(Reporting By Jessica Toonkel; Editing by Daniel Magnowski)

Comments