Saks May Get $1.7 Bln Private Equity Bid: Report

LONDON -- A consortium of U.S. and U.K. private equity companies is considering a $1.7 billion bid for retailer Saks Inc. , according to a report in the U.K.'s Daily Mail newspaper. The report, which cited rumours from an unnamed source, said the group has almost completed due diligence on Saks and could table a cash bid worth $11 a share soon. It added that one hurdle for the bidders is the fact that billionaires Carlos Slim and Diego Della Valle hold significant stakes in the firm and may want a big premium. Shares in Saks rose nearly 10%