Saks Fifth Avenue parent reviewing two offers to go private
Saks Fifth Avenue parent Hudson's Bay Co. said Thursday that the company's Special Committee is reviewing two offers to take the company private. A group of Hudson's Bay shareholders, including the company's executive chairman offered C$9.45 per share in cash on June 10. Separately, The Catalyst Capital Group Inc. has offered to acquire more than 14.8 million common shares of Hudson's Bay for C$10.11 per share in cash. Other retail chains in the Hudson's Bay portfolio include Lord & Taylor. Hudson's Bay announced in May that it was considering strategic alternatives for Lord & Taylor, including a sale. Hudson's Bay stock has gained 35.3% for the year to date while the S&P 500 index is up 20.5% for the period.
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