Catalyst to vote against Hudson's Bay take-private deal
The Catalyst Capital Group Inc plans on voting against the recently announced agreement to take Canadian retailer Hudson's Bay private by a group of shareholders led by Executive Chairman Richard Baker. Catalyst is against the deal because the Canadian private equity firm feels it's a "severely undervalued share buyback" at the expense of shareholders. As previously reported, a group of Hudson's Bay shareholders offered C$10.30 per share in cash for the 43 percent of shares it does not own in the retailer. Catalyst currently holds an approximate 28.24 percent share of HBC's total common shares.
31 October 2019•3 mins read
