UPDATE: The $6 billion deal will proceed.

Dive Summary:

• After going public with its IPO in June, luxury retailer Neiman Marcus is near a takeover agreement with Ares Management and the Canada Pension Plan Investment Board, according to details published by Bloomberg.
• The buyout deal for the company is worth a reported $6 billion and could be announced on Monday. 
•  “The question is what can the buyers do with it? Hope springs eternal. Perhaps they feel that their management and their ability to work with companies will get them the return they are looking for,” said Michael Appel, of retail consultancy firm Appel Associates LLC.

From the article:

The possible deal comes at time when the U.S. retail sector has cooled as some consumers have switched their spending to bigger items including cars, homes and home furnishings. The chains that sell apparel and other discretionary goods have suffered, including Nordstrom Inc. (JWN) and Macy’s Inc. (M), which reported second-quarter sales that trailed analyst. ...