Hudson's Bay soars amid calls to go private, monetize real estate: Reuters
U.S. activist investor Jonathan Litt on Monday called for Canada's Hudson's Bay Co to consider going private and to monetize its vast real estate holdings, sending shares in the owner of Saks Fifth Avenue up 13 percent, Reuters reported. Litt made the request to the board of directors in a letter which disclosed his investment firm Land & Buildings Investment Management LLC had acquired a 4.3 percent stake in Hudson's Bay. The company, also known as HBC, said in a statement that it was reviewing the letter from Litt, a former Citigroup real-estate analyst whose activist hedge funds focuses on the property sector.
19 June 2017•3 mins read
