ORLANDO, Fla. — As rumors swirl over whether Saks Fifth Avenue will acquire Neiman Marcus, Neiman's CEO told CNBC there's "no need" to sell the business, adding it's unlikely to change hands in the next five years.
Some people close to the companies have told CNBC a merger between the two is inevitable, and is a matter of when, not if.
But Neiman's CEO Geoffroy van Raemdonck said there is currently "no process to sell the company."
Eventually, those owners will seek to offload the business, but van Raemdonck said it won't be any time soon.
They have not yet received an offer that was large or attractive enough to move the needle, a source familiar with the matter previously told CNBC.
Persons:
Neiman Marcus, Geoffroy van Raemdonck, there's, van Raemdonck, Neiman, There's
Organizations:
Saks, CNBC, Street, Pacific Investment Management, Davidson, Capital Management, Sixth Street Partners, Neiman, CNBC PRO
Locations:
ORLANDO, Fla, Orlando