HBC could get new U.S. buyer: reports
Hudson's Bay Co. could be the target of a possible acquisition by the owner of U.S. department store chain Lord & Taylor, according to published reports on Thursday.
The owner of 47-store Lord & Taylor, NRDC Equity Partners, already owns about 20 per cent of HBC, and NRDC's chief executive officer, Richard Baker, is on the board of the 338-year-old Canadian company.
The future of HBC has been a bit uncertain since governor and CEO Jerry Zucker died of cancer in April. Zucker's widow, Anita Zucker, became the company's governor. The Zucker family said it would continue to hold HBC, but there were some suggestions it might try to sell the company.
Jerry Zucker, a South Carolina billionaire, bought HBC for $1.1 billion in 2006.
Based in New York, Lord & Taylor is a 182-year-old upscale chain.
HBC runs the Bay, Zellers and Home Outfitters.
0 comments:
Post a Comment