PE Deals

Hudson’s Bay special committee rejects Catalyst’s rival bid: Reuters

Canadian retailer Hudson's Bay special committee has rebuffed Catalyst Capital Group's unsolicited bid as not "superior" to its previously agreed upon offer by an investor group, reported Reuters

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Canadian retailer Hudson’s Bay special committee has rebuffed Catalyst Capital Group’s unsolicited bid as not “superior” to its previously agreed upon offer by an investor group, reported Reuters. Last week, Catalyst, which owns a 17.5 percent stake in Hudson’s Bay, made a bid of C$11 per share for Hudson’s Bay, which owns Saks Fifth Avenue. The bid tried to beat the C$10.30 per share offer of the group led by Executive Chairman Richard Baker.

Source: Reuters