Hudson's Bay makes takeover approach for Macy's: Reuters
Hudson's Bay Co has made a takeover approach for retail chain Macy's Inc, sources told Reuters, in a deal that would push the Canadian department store operator deeper into the U.S. market. Shares of Macy's had a market value of about US$9.4 billion as of Thursday's close. A deal would add another retailer to Hudson Bay's expanding portfolio, which includes Saks Fifth Avenue and Lord & Taylor in the United States, as well as Galeria Kaufhof in Europe. The Canadian retailer was acquired in 2008 by private equity firm NRDC Equity Partners, headed by Richard Baker, now HBC's executive chairman.
3 February 2017•3 mins read
