Footwear retailer Brown Shoe Company Inc is in contention to acquire women's luxury shoe retailer Stuart Weitzman Holdings LLC, in a deal that could reach $1 billion, three people familiar with the matter said on Tuesday. Brown Shoe is competing against other potential suitors, that include private equity firms and financial investors, for Stuart Weitzman, the people said. An outcome in the auction for Stuart Weitzman is expected this month, the people added.Buyout firm Sycamore Partners, the owner of Stuart Weitzman, has been working with Goldman Sachs Group Inc and Citigroup Inc on the sale of the company, Reuters reported in August.The sources asked not to be identified because the sale process is confidential. Representatives for Sycamore declined to comment. Representatives for Brown and Stuart Weitzman did not respond to requests for comment. (Reporting By Olivia Oran and Mike Stone in New York; Editing by Chris Reese)
Citigroup Inc. (Citigroup) is a global diversified financial services holding company whose businesses provide consumers, corporations, governments and institutions with a broad range of financial products and services, including consumer banking and credit, corporate and investment banking, securities brokerage, transaction services and wealth management. Shares of C traded higher by 1.87% or $1.0/share to $54.35. In the past year, the shares have traded as low as $45.18 and as high as $55.28. On average, 16910700 shares of C exchange hands on a given day and today's volume is recorded at 13006626.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 1.13% or $2.13/share to $190.33. In the past year, the shares have traded as low as $151.65 and as high as $192.68. On average, 2779460 shares of GS exchange hands on a given day and today's volume is recorded at 2147213.
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