Authentic Brands Group Secures Nine West with $340M Bid

The Belmont Stakes wasn’t the only race taking place this weekend. Authentic Brands Group (ABG) won the auction Sunday for the intellectual property of bankrupt footwear and accessories company Nine West Holdings, Inc. ABG’s winning bid is valued at over $340 million, $140 million more than the company’s stalking horse bid. Reuters reported that ABG bested a…