Saks Fifth Avenue owner Hudson’s Bay gets offer to go private
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A group of shareholders, including Hudson’s Bay Co.’s executive chairman Richard Baker, on Monday offered to take the Canadian retailer private in a C$1.74 billion cash deal.
Under the terms of the deal, Hudson’s Bay shareholders will receive C$9.45 per share, representing a premium of 48 percent to the stock’s closing price on Friday.
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Separately, the company said that it would sell its stake in its real estate joint venture in Germany to Signa Retail Holdings in a deal valued at $1.5 billion.
