Hudson's Bay Company, the Canadian department store business that also owns Saks Fifth Avenue, has agreed to a buyout by a consortium of investors led by its chairman, in a deal that would allow it to navigate an increasingly challenging retail and real estate market out of the public spotlight. The consortium offered to buy the 43 per cent of HBC it does not already own for C$10.30 per share, a 62 per cent premium to the group's share price before the consortium led by executive chairman Richard Baker made its interest in acquiring the entirety of the company known in June. The deal values the retailer's equity at C$1.9bn (US$1.45bn). HBC carried about C$6.6bn of net debt as of August, according to Bloomberg data. The buyout price falls near the low-end of an acceptable range that a special committee of HBC board members had prepared by its advisers, underlining the continued struggles facing retailers, and department store companies in particular.