We inform you that on this website we use our own and third-party cookies to collect information about its use, improve our services and, where appropriate, display advertising by analyzing your browsing habits. You can expressly accept its use by pressing the "ACCEPT" button or configure and select the cookies you want to accept or reject in the settings. You can also get more information about our cookie policy here.

The global fashion business journal

Oct 1, 202011:46pm

Hudson’s Bay going private deal at risk 

The Catalyst Capital Group is one of the shareholders that has announced that it will vote against the deal lead by chairman Richard Baker. 

Nov 1, 2019 — 6:47pm
mds
Save

Hudson’s Bay going private deal at risk 

 

 

Hudson’s Bay hits a wall with its shareholders in its plan to go public. The Catalyst Capital Group and another group of investors, which control a total of 28.24% of the capital, have already announced that they will vote against the bid to take HBC private led by the group’s chief executive officer, Richard A. Baker.

 

Last October, the board of directors of the department store company gave the deal a green light, but the shareholder’s approval is pending. Voting is scheduled for mid-December, according to WWD. Baker and a group of investors that add a total of 57% stake in Hudson’s Bay offered 10.3 Canadian dollars per share to take the remaining 43% of the capital.

 

“We urge shareholders to review the forthcoming information circular to be filed in the coming weeks, which will include further details and analysis that informed the special committee’s determination, before making any decision,” said Gabriel de Alba, CEO and partner of Catalyst. The fund controls 17.49% of Hudson’s Bay.

Advertising
Participation rules

info@themds.com

 

Validation policy for comments: 

 
MDS does not perform prior verification for the publication of comments. However, to prevent anonymous comments from affecting the rights of third parties without the ability to reply, all comments require a valid email address, which won’t be visible or shared.
 
Enter your name and email address to be able to comment on this news: once you click on the link you will find within your verification email, your comment will be published.

0 comments — Be the first to comment
...