Luxury store group eyed by bargain basement retailer
Saks Fifth Avenue is being sized up by US discount chain Bon-Ton, according to reports in the US. Bon-Ton is thought to be in discussions with hedge fund operator Cerberus Capital Management to make a US$4.1 billion (£2.29 billion) offer for Saks.

Commentators note that any merger between the two retailers would bring together two brands from opposing ends of the social spectrum, but that Saks' customer base is typically elderly and in danger of dying out altogether.

Saks operates 58 Saks Fifth Avenue luxury department stores and 238 department stores serving a more mid-range market. The company also owns 52 Off 5th stores, which sell designer clothing at discount prices, as well as 38 Club Libby Lu stores targeting pre-teen girls. Bon-Ton operates 139 department stores.