OSC adjourns hearing on Rhône investment in HBC: Reuters

The Ontario Securities Commission (OSC) adjourned a hearing this week of U.S. activist hedge fund Land & Buildings Investment Management’s appeal against a conditional approval for a US$500 million ($636 million) investment in luxury retailer Hudson’s Bay Co from Rhône Capital, Reuters reported. The OSC said the hearing will be held from December 6. Land and Buildings had appealed against the Toronto Stock Exchange’s conditional approval for the Rhône investment. Earlier this month, Hudson’s Bay said it had written consent for the investment from shareholders representing well over 50 percent of its outstanding common shares.

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