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May 08, 2006
Price Tag Put On L&T
Federated Department Stores has named its price for Lord & Taylor. The chain has been valued at around $1.2 billion, according to a report out Monday in WWD.
Federated is expected to send out a prospectus on L&T to potential bidders this week. Suitors reportedly include a number of private equity firms as well as some retail rivals.
If the $1.2 billion price tag holds, the buyer could be getting a deal. L&T has annual sales of about $1.6 billion, as well as some coveted real estate in Manhattan.
Posted by Blacks on May 8, 2006 07:13 AM
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