Hudson’s Bay hires advisors to evaluate $1.74 bln acquisition offer
Hudson’s Bay Co (TSX: HBC) said a special committee of its board has hired advisors to assess a $1.74 billion proposal to take the Canadian retailer private. The committee hired TD Securities as independent valuator and Centerview Partners as special advisor. It also retained J.P. Morgan Securities as financial advisor and Blake, Cassels & Graydon as legal counsel. The board formed the committee to evaluate a $9.45 per-share acquisition offer by a group led by Executive Chairman Richard Baker, announced in June. The group includes Rhône Capital and WeWork Property Advisors. Several Hudson’s Bay minority shareholders, including Land & Buildings Investment Management, oppose the deal.
11 July 2019•2 mins read
