With a $900 million offer for Barneys New York already on the table, Jones Apparel Group says it has received a new bid of $950 million from Fast Retailing, a Japanese company.
Jones says
that Istithmar, the investment arm of the Dubai government, has two days to sweeten its bid. (Before Fast entered the bidding, Istithmar's original offer was $825 million.)
--Sarah Mahoney