Retailer Hudson Bay receives voluntary offer from Maple Leaf
29 Oct '05
1 min read
Board of Directors of Hudson's Bay Company (Hbc), Canada's leading department store retailer and oldest corporation has received an unsolicited offer from Maple Leaf Heritage Investments/Intertech to purchase the outstanding shares in Hbc.The Board, in consultation with retained advisors and management, is assessing the bid.
The Board will make a recommendation to shareholders and advise the market accordingly.
Hudson's Bay Company, established in 1670, is Canada's largest department store retailer and oldest corporation. The Company provides Canadians with the widest selection of goods and services available through retail channels that include 550 stores led by the Bay, Zellers and Home Outfitters chains.
Hudson's Bay Company is one of Canada's largest employers with 70,000 associates and has operations in every province in Canada.
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