Hudson's Bay gets C$2.03 bn offer from Catalyst
Catalyst Capital Group Inc has offered to buy Hudson's Bay Company in a deal that values it at C$2.03 billion (US$1.53 billion), challenging the Canadian retailer's agreed deal with a consortium led by its executive chairman, Richard Baker.
Shares of the Saks Fifth Avenue owner rose about 11% to C$9.80 in early trading.
Private equity firm Catalyst, which owns 17.5 % of Hudson's Bay, has offered C$11 per share, topping Baker's raised C$10.30 per share proposal.
Baker's consortium already owns 57 % of Hudson's Bay and has previously informed the company it would block a sale to another party.
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