New, $900M offer for Barneys

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Jones Apparel Group said today it received an offer for the Barneys New York retail chain that is significantly higher than the $825 million buyout offer from Istithmar that Jones agreed to last month. Jones said Japan’s Fast Retailing Co. has offered $900 million for Barneys. If Jones decides to terminate its agreement with Istithmar, it will have to pay the Dubai-based investment firm around $21 million. more [AP via Crain’s]