Shareholder group bids to take Hudson’s Bay private for $1.74 bln
A group of shareholders of Hudson’s Bay Co, including Executive Chairman Richard Baker, has offered to take the Canadian department store operator private, according to a news release. The proposed deal reflects a purchase price of $9.45 per unit in cash, representing a total value of $1.74 billion, Reuters reported. The group, which owns a combined 57 percent interest in Hudson’s Bay, includes U.S. private equity firm Rhône Capital, which in 2017 agreed to invest US$500 million in the company. The deal is conditional on the sale, announced today, of Hudson’s Bay’s stake in its German real estate joint venture, and divestment of its related retail joint venture, to Signa for $1.5 billion.
10 June 2019•1 min read
