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Reuters exclusively reports Hudson’s Bay’s take-private deal falls short

Reuters reported exclusively that Saks Fifth Avenue owner Hudson’s Bay Co has fallen short of securing enough shareholder support for a C$1.9 billion ($1.4 billion) deal to take the department store operator private. According to Reuters sources, a buyout consortium of Hudson’s Bay investors led by its Executive Chairman Richard Baker did not win enough votes from other company shareholders by a Friday morning deadline ahead of a Dec. 17 special meeting.

Article Tags
Type: Reuters Best
Sectors: Equities
Regions: Americas