Bidding war for Barneys department store

Fast Retailing of Japan and Dubai investment vehicle Istithmar lock horns over upmarket US department store chain Barneys.

Barneys has become the target of a bidding war between Istithmar of Dubai and JapanÆs Fast Retailing.

On Monday, Fast Retailing upped its offer for Barneys to $950 million. This was in response to the latest bid of $900 million submitted by Istithmar one day earlier on Sunday. IstithmarÆs Sunday bid was up 9% from its original offer and matches the offer tabled by Fast Retailing on July 31.

Analysts say the speed with which Fast Retailing responded suggests that...

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