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Monday, February 14, 2011

TAKEOVERCHATTER-U.S. luxury sector getting ready for more deals, (LVMH), (NYSE: SKS)

Wall Street bankers, the ultra wealthy and even upper middle class shoppers are once again snapping up diamond rings, $10,000 handbags and designer gowns, priming the U.S. luxury sector for more deals. Merger mania has returned to industries such as pharmaceuticals and even stock exchange operators. Now, with names such as French conglomerate LVMH (LVMH.PA) and U.S. department stores Saks Inc (SKS.N) and Neiman Marcus Group [NMRCUS.UL] all reporting strong sales in the past year, analysts and bankers say that the high end sector will see some action if U.S. luxury can keep its hot streak going for another quarter or two.