Signa makes $3.5 bln bid for Hudson's Bay's Kaufhof: Reuters
Signa Holding, the Austrian property and retail group that owns German department store chain Karstadt, has made a 3 billion euro (US$3.5 billion) offer to acquire Hudson’s Bay Co’s German peer Kaufhof, sources told Reuters. Signa submitted the fully financed bid this week, the sources said. They added that Signa expects Hudson’s Bay, which has been reluctant so far to engage in negotiations to sell Kaufhof, to respond by mid-November.The bid comes one week after Hudson’s Bay agreed to sell its flagship Lord & Taylor building in New York for US$850 million to WeWork Cos and raise an investment from U.S. private equity firm Rhône Capital.
1 November 2017•3 mins read
