TORONTO ― Hudson’s Bay Co.’s board of directors has rejected Catalyst Capital Group’s $2 billion takeover proposal, which it says has no prospect of swaying the majority stake controlled by Chairman Richard Baker. Catalyst offered $11 per share to compete with the Baker-controlled group’s $10.30-per-share bid to take the company private. The majority, however, has said it has no intention of selling. Catalyst is not out of options yet, though: it is still pursuing an application to the Ontario Securities Commission for a hearing into what it calls “numerous omissions and misrepresentations” in the information circular on the Baker group’s bid.
HBC board nixes Catalyst bid
Most Recent
Most Read
Canfor announces earnings, acquisition
Thu, May 02nd, 2024
Two more retailers to showcase Quebec-made products
Thu, May 02nd, 2024
Throwback Thursday: “Canadians are ready to start spending again,” we reported ten years ago
Thu, May 02nd, 2024
RONA stores raise money in May to support communities
Thu, May 02nd, 2024
AD Canada garners recognition as great place to work
Thu, May 02nd, 2024
AQMAT unveils its “Family Portrait” of the industry in Quebec
Wed, May 01st, 2024
Is the honeymoon ending for self-checkout?
Wed, May 01st, 2024
Amazon announces first quarter results, triples profits
Wed, May 01st, 2024
Peavey marks grand opening in Manitoba
Tue, April 30th, 2024
Hiring in Ontario? Legislation around job postings has changed
Tue, April 30th, 2024