Saks Fifth Avenue owner Hudson's Bay Co has fallen short of securing enough...
) has fallen short of securing enough shareholder support for a C$1.9 billion deal to take the department store operator private, people familiar with the matter said on Friday.
A buyout consortium of Hudson’s Bay investors led by its Executive Chairman Richard Baker did not win enough votes from other company shareholders by a Friday morning deadline in advance of a Dec. 17 special meeting, the sources said. The Ontario Securities Commission regulator on Friday said Hudson’s Bay has agreed to postpone the Dec. 17 meeting. It was not immediately clear when this would now be held.
While Baker’s offer would pay Hudson’s Bay shareholders a 62% premium to the value of their stock prior to his bid being announced, it values the company at just a third of its 2015 worth. That has triggered opposition from some Hudson’s Bay investors, including Canadian private equity firm Catalyst Capital Group Inc and hedge fund Ortelius Advisors LP.
México Últimas Noticias, México Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
Kate Hudson Just Sang 'All I Want for Christmas Is You,' And Mariah Better Watch OutThe actress told 'Women's Health' she's 'definitely going to make a record.'
Leer más »
Lyft expands rental car program in San Fran Bay Area, Los AngelesRide-hailing company Lyft Inc on Thursday said it is offering rental cars to a w...
Leer más »
Exclusive: Haier Smart Home plans Hong Kong listing to take $7.7 billion unit private - sourcesHaier, the world's biggest maker of household appliances, is planning a maj...
Leer más »
Exclusive: ING working on digital assets custody technology - sourcesDutch bank ING is working on developing technology to help clients safely store ...
Leer más »
Exclusive: French side of PSA-Fiat merger want governance guarantees - sourcesThe French partners in the planned merger between French carmaker PSA and Fiat C...
Leer más »
Los Angeles beaches contaminated by polluted stormwater, report finds: 'We're endangering every person visiting'Stormwater is the greatest source of pollution in the ocean, rivers and lakes of Los Angeles County, according to Heal the Bay.
Leer más »