Catalyst increases HBC share purchase offer to up to $200 mln
Catalyst Capital Group has amended its cash offer to buy common shares of Canadian retailer Hudson's Bay Co (TSX: HBC) at a price of $10.11 per unit. Catalyst increased the maximum number of shares to be acquired to 19.8 million, or about 10.75 percent of issued and outstanding shares. The amended offer reflects a total value of $200 million. Last month, the Canadian private equity firm offered to buy up to 14.8 million shares, reflecting a value of $150 million. Catalyst is taking the step to block the proposed $1.74 billion take-private acquisition of Hudson's Bay, announced in June. It said the proposal undervalues the business and is detrimental to minority shareholders.
6 August 2019•10 mins read
