trending Market Intelligence /marketintelligence/en/news-insights/trending/Yw0Vgfvs3ipXP-LickDBcg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

Thank you for your interest in S&P Global Market Intelligence! We noticed you've identified yourself as a student. Through existing partnerships with academic institutions around the globe, it's likely you already have access to our resources. Please contact your professors, library, or administrative staff to receive your student login.

At this time we are unable to offer free trials or product demonstrations directly to students. If you discover that our solutions are not available to you, we encourage you to advocate at your university for a best-in-class learning experience that will help you long after you've completed your degree. We apologize for any inconvenience this may cause.

In This List

Hudson's Bay agrees to improved take-private bid by majority shareholders

Gauging Supply Chain Risk In Volatile Times

S&P Global Market Intelligence

Cannabis: Hashing Out a Budding Industry


IFRS 9 Impairment How It Impacts Your Corporation And How We Can Help

The Market Intelligence Platform

Hudson's Bay agrees to improved take-private bid by majority shareholders

Hudson's Bay Co. said Oct. 21 that it agreed to a revised take-private deal proposed by a group of its shareholders, who own a total of 57% of the company.

The Ontario-based department store chain said the shareholder group, which includes Governor and Executive Chairman Richard Baker, Rhone Capital LLC, WeWork Property Advisors LLC, Hanover Investments (Luxembourg) SA and Abrams Capital Management LP, raised its offer price to C$10.30 per share from the C$9.45 per share offered June 10. The revised bid represents a premium of about 62% to Hudson's Bay closing share price on the Toronto Stock Exchange on June 7.

"Following this comprehensive evaluation and extensive negotiations with the shareholder group, and consideration of the applicable risks and the opportunities and alternatives available, we are pleased to have reached an agreement with respect to a transaction that provides immediate and fair value to the minority shareholders," David Leith, chair of the Hudson's Bay special committee, said in a statement.

The special committee was set up by Hudson's Bay's board of directors to review the offer, which was opposed by private equity firm Catalyst Capital Group and real estate developer Paradise Developments.

The committee added that it recommends minority shareholders to vote in favor of the revised proposal at the company's upcoming special shareholder meeting scheduled for December.

Shares of Hudson's Bay rose 6.4% to C$10.05 following the announcement.

J.P. Morgan is acting as lead financial adviser to the Hudson's Bay special committee, with Centerview Partners serving as special adviser. Blake Cassels & Graydon LLP is acting as its Canadian legal adviser and Paul Weiss Rifkind Wharton & Garrison as its U.S. legal adviser.

BofA Merrill Lynch and RBC Capital Markets are acting as financial advisers to the shareholder group, with Stikeman Elliott LLP serving as its Canadian legal adviser and Willkie Farr & Gallagher LLP as its U.S. legal adviser.