Saks investor buys 8.48 million shares for initial stake of 5.9%

By Lisa Kerner

Charlotte, N.C., May 15 - Saks Inc. investor Diego Della Valle bought an initial stake of 8.48 million shares, or 5.9%, of the company's common stock between Feb. 20 and May 7 for a total of $30.33 million.

The transactions were reported in a schedule 13D filed with the Securities and Exchange Commission on Friday.

Saks is a New York-based retailer.

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