TORONTO — Canadian retailer Hudson’s Bay Co. says it will acquire U.S. luxury retailer Saks Inc. in a friendly deal worth US$2.9 billion, with financial backing from one of the country’s largest pension fund managers.
HBC plans to keep the Saks as a separate unit headquartered in New York and introduce the Saks brand in Canada through online and other formats. HBC’s other holdings include The Bay in Canada and Lord & Taylor in the US Northeast.
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Hudson’s Bay to buy luxury retailer Saks in $2.9-billion deal | Financial Post
HBC plans to keep the Saks as a separate unit headquartered in New York and introduce the Saks brand in Canada through online and other formats. HBC’s other holdings include The Bay in Canada and Lord & Taylor in the US Northeast.
more
Hudson’s Bay to buy luxury retailer Saks in $2.9-billion deal | Financial Post