Austria's Signa eyes bid for Hudson's Bay Co's Kaufhof: Reuters

Austrian real estate company Signa Holding is considering a bid for Germany’s Galeria Kaufhof, a department store chain owned by Hudson’s Bay Co, sources told Reuters. Signa is working with an investment bank to line up financing for a takeover offer, the sources said. Signa’s potential bid coincides with Hudson’s Bay executives mulling a possible deal of their own. Canada's Hudson’s Bay has reportedly hired a financial adviser to review strategic options, including the possibility of taking the company private. Hudson’s Bay is under pressure from U.S. activist hedge fund Land and Buildings Investment Management.

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