Allegedly Richard Baker CEO of Saks has lined up financing from the Middle East..it's doubtful american banjs would finance the merger..
With an interest rate over of 5 percent at 150 million per year based on 2 billion plus assumption of debt..
This merger is dead on arrival .That excludes Saks debt which may be in the billions range as well.. thats before all the merger rekated fees that would occyr which would be over 100 million.. for the attorneys. Banks consultants etc
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So numbers are not good, the big G wonders if a sale could come about due to performance under his direction, if it does occur he gets a boatload based on his self determination of HIS worth.
Makes one wonder about his attention to success with so much to be gained from a lack of it.
I can understand paying to not include Geoffrey .but 600 million?
Hearing that Richard and his financiers insist on paying $1.9B if GVR is included in the deal. And $2.5B if he’s not.
If Middle East is truly interested they must shop often at Bergdorf!
Actually the fees may be closer to 200 million plus. a year.
Your numbers are a bit different than the ones I saw on Facebook nm su-ks page
Either way even those rich guys in the middle east sitting on billions may backtrack. Unless the wanna lose their money
Sorry for typos ..it sent before I could correct them .need a new phone .