the Hudson’s Bay Company (HBC) has agreed to a takeover offer from a consortium led by Richard Baker, the current president of the HBC. According to a statement from the Canadian department store chain. The consortium cites the Hudson’s Bay and the other on the stock exchange, in Canada, in order to put the scenes in order.
the HBC is going to accept a bid in the amount of 11-Canadian dollars (which converted to about 7,60 euro) per share. This enables the company to be valued at 2 billion Canadian dollars.
With an 11-dollar is the offer of the firm is higher than the first bid is from a consortium, that is, at 10,30 a dollar was. The offer will be increased after a Canadian equity firm Catalyst Capital Group, which is also a shareholder in the HBC, a total of $ 2 billion provided for the HBC. It’s a new offer from the consortium, and the bid in the amount of the investment so it can match.
finally, the Catalyst Capital Group has agreed to the new offer because it was “a great deal more suitable for all of the minority shareholders”, claims that managing director Gabriel de Alba, the venture capital firm. Next month, shareholders will vote on the offer.
as The consortium takes the Hudson’s Bay and the other on the stock market behind the scenes to get their house in order. The department store chain saw total revenues of brick and mortar shops over the past few years is declining due to the increasing popularity of online shopping.
it’s about the consumer, the Hudson’s Bay and the other in the last few years, less and less able to find as well. On Friday appealed to the district court to the bankruptcy of the retail chain in the Netherlands. Hudson’s Bay, and had fifteen places in the Netherlands, but which have been since the 1st of January, all will be closed. A lot of the sites have had the doors closed. Only the locations in Breda, the netherlands, and the Kalverpassage in Amsterdam, would have to be kept open by the courts, but that business is now closed.
