Looking to buy battered Bauer on the cheap; L. L. Bean first in line, others expected.(News)(Eddie Bauer could be acquired by L.L. Bean Inc.)

Crain's Chicago Business, May, 2003 by Gallun, Alby

Byline: ALBY GALLUN As distressed merchandise goes, Spiegel Inc.'s Eddie Bauer chain looks like an enticing purchase for L. L. Bean Inc. Yet it will take some sharp tailoring to create a good fit-assuming that Bean wins what could be a bidding war for all or part of Eddie Bauer. The Freeport, Maine-based catalog company, which recently expressed interest in making a bid for Bauer, would gain a significant retail presence if it acquired the 529-store Spiegel unit-a presence Bean needs to keep up with Sears, Roebuck and Co.'s Lands' End business.

An Eddie Bauer buyout also would give L. L. Bean a better distribution system, more leverage over suppliers and Bauer's coveted customer lists. With Downers Grove-based Spiegel in bankruptcy, Bean has a rare...

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