The owners of 99c Only Stores is close to buying a luxury retailer that sells $3500 Prada bags, Neiman Marcus. Sources say the consortium, Ares Management and the Canada Pension Investment Board, could reach a deal as early as this week to buy Neiman for roughly $6 billion. That would be a billion dollars more than what current private equity owners TPG Capital, Warburg Pincus and Leonard Green Partners, paid for it in 2005 just before the start of the Great Recession.moreless
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