Exclusive | Inside the rocky, on-and-off merger talks between Saks and Amazon before and after the luxury giants bankruptcy: Basically dumped

Amazon has been signaling that it wants a piece of the Saks empire — including possibly buying it outright — even as its prospects to break into the luxury market have been complicated by its controversial role in the retailer’s bankruptcy, The Post has learned.About three months before the owner of Saks and Neiman Marcus filed for Chapter 11 in January, Amazon tapped the investment bank Lazard to explore acquiring Saks Global or to take a bigger stake in the debt-ridden chain, according to sources with knowledge of the negotiations.“They spent a lot of time, money and energy working on the deal and there was a strong belief that Amazon would purchase the company — right up until Christmas,” a source told The Post.Amazon — which replaced Lazard with Evercore during several weeks of rough-and-tumble talks — eventually decided against an acquisition, in part over concerns about the company’s brick-and-mortar stores, this source said. “They weren’t sure they could run them,” the source said of Amazon, although the web giant believed it “could deal with Saks Global’s debt.”Shortly after the discussions ended, Saks Global began preparations for bankruptcy.After the Chapter 11 filing, however, Caroline Casey Boman, the Seattle-based e-tailing giant’s director of mergers and acquisitions, took a seat on the unsecured creditors committee for Saks, according to court papers.Amazon’s unusual assignment of an investment banker to such a role — which typically goes to a company’s lawyer — has raised eyebrows, according to insiders.“By putting an M&A person on the committee you are signaling what your interest is in the matter,” said one attorney involved in the case who asked not to be identified.
“I would not be shocked if Amazon was interested in participating in a sales process.It could step in and make an enormous bid.”Thus far, the relationship has been rocky.
At a “tough meeting” in early February, Saks’ new CEO...