Saks Fifth Avenue, Neiman Marcus to merge in $2.65B blockbuster deal — Amazon to acquire stake

Saks Fifth Avenue and Neiman Marcus have reportedly agreed to a blockbuster merger that combines the nation’s two dominant luxury retailers — and Amazon is joining the deal, too.

Saks owner HBC, will acquire Neiman Marcus for $2.65 billion, according to sources close to the situation — a once unthinkable tie-up that comes as both chains grappled with a multiyear slowdown in luxury spending.

In a surprise twist, Seattle-based Amazon — the e-tailing giant headed by billionaire Jeff Bezos — will become not only a minority investor in the new company — to be called Saks Global — but also will provide “technology and logistics services” to the merged operation