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Catalyst Group Capital planning on rival bid for Hudson’s Bay: Bloomberg

Catalyst Group Capital Inc, a Canadian private equity firm, is reportedly planning on surpassing a rival bid for Hudson’s Bay at more than C$2 billion (US$1.5 billion), reported Bloomberg. Catalyst, which currently holds a 17.5 percent stake in Hudson’s Bay, is offering C$11 per share in cash for the rest of the company. In October, Hudson’s Bay agreed to be taken private by a group of shareholders led by Executive Chairman Richard Baker. As previously reported by PE HUB, the group offered C$30 per share in cash for the 43 percent of shares it did not own in Hudson’s Bay. Also included in this investors group are Rhone Capital and WeWork Property Advisors.