05:43 PM EDT, 04/03/2024 (MT Newswires) -- Apollo Global Management ( APO ) is considering to finance Saks Fifth Avenue's potential acquisition of rival Neiman Marcus, Bloomberg reported Wednesday, citing people with knowledge of the matter.

The alternative asset manager is in discussions to provide a loan of at least $1 billion, the report said. The financing may also involve other lenders and is not final.

Representatives for Apollo and Saks declined to comment to Bloomberg.

The companies did not immediately reply to requests for comment from MT Newswires.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 113, Change: +0.41, Percent Change: +0.36