U.S. investor makes bid for Hudson's Bay Co.
A 335-year-old retail institution considered central to Canada's cultural and commercial development may soon be an American's newest business venture.
South Carolina businessman Jerry Zucker's Maple Leaf Heritage Investments made an offer to take control of Hudson's Bay Co. Friday, in a deal that values the historic retailer at $1 billion.
In a letter to HBC CEO George Heller, Zucker presented an offer of $14.75 a share, plus debt. He already controls about 18.8 per cent of HBC shares.
*Well that would be an end of an era and sad, just like when my favourite store Woodwards closed but with all the competition and other specialty box stores I guess it is hard to avoid.
A 335-year-old retail institution considered central to Canada's cultural and commercial development may soon be an American's newest business venture.
South Carolina businessman Jerry Zucker's Maple Leaf Heritage Investments made an offer to take control of Hudson's Bay Co. Friday, in a deal that values the historic retailer at $1 billion.
In a letter to HBC CEO George Heller, Zucker presented an offer of $14.75 a share, plus debt. He already controls about 18.8 per cent of HBC shares.
*Well that would be an end of an era and sad, just like when my favourite store Woodwards closed but with all the competition and other specialty box stores I guess it is hard to avoid.