Pursuits
Saks Rises After Report Retailer May Receive Offer
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Saks Inc. rose the most in more than a year in U.S. trading after the Daily Mail speculated the New York luxury retailer may receive a takeover offer from a private-equity group.
U.S. and British buyout firms may be close to offering $1.7 billion, or $11 a share, for Saks, the Daily Mail reported, without saying where it got the information. The shares climbed 20 percent on the New York Stock Exchange.