Catalyst Capital set to buy stake in Hudson’s Bay

TORONTO — Catalyst Capital has announced its offer for a 10% stake in Hudson’s Bay Co. has been accepted. Under the transaction, which will close within three business days, Catalyst is purchasing nearly 18.5 million shares at a cash price of $10.11 per share, for a total cost of about $187 million. Catalyst says it stands behind the special committee of HBC’s board and is urging it to reject the offer from a group led by Chairman Richard Baker who want to take the retailer private.