Saks Incorporated (SKS)

[MWM]

huge new Buys by yet another Millionare!

On May 18, 2009 Diego Della Valle, owner of Tod's, announced the purchase of a share of 5.9% of U.S. luxury department stores Saks Fifth Avenue for 30.3 million dollars, becoming the second largest shareholder. According to Bloomberg Della Valle bought 8,500,000 securities between February 20 and May 15. The founder of Tod's could start negotiations to become a shareholder 'strategic and long-term' of Saks. Della Valle comes in addition to the list of billionaires who have interests at Saks: the largest shareholder with a share of 18% is the Mexican telecommunications magnate Carlos Slim.