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Hudson’s Bay Disappears from the Toronto Stock Exchange

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The Canadian department store group, Hudson’s Bay, disappears from the Toronto stock exchange.

 

A group of minority shareholders has agreed to an offer of 11 Canadian dollars per share of a group of majority shareholders under the leadership of CEO Richard Baker. The Canadian company announced this on Saturday.

Baker and his colleagues previously offered 10.30 Canadian dollars per share, but that bid was swept off the table. His first bid was 9.95 Canadian dollars. With the offer now accepted, the value of Hudson’s Bay can be set at 2 billion Canadian dollars.

Hudson’s Bay is in heavy weather. The company already divested most of its European activities and decided to leave the Netherlands.

The Canadian department store chain wanted to take the place of the bankrupt V&D in the Dutch retail landscape a few years ago, but it failed. Almost all the Dutch branches have now been closed definitively.

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