Headlines

Hudson’s Bay to Conduct Review

Department store retailer may go private or sell real estate

Published

8 years ago

August 28, 2017

Hudson’s Bay Co. (Brampton, Canada) is exploring new options for the future of the company, which may include going private, according to Reuters. The review will also consider options such as potential sales of retail assets and real estate, though no transaction is certain.

To that end, the company is looking to hire a financial adviser to carry out that review. The move follows failed attempts to merge with Macy’s (Cincinnati) and Neiman Marcus (Dallas), as well as pressure from an activist shareholder.

In June, the hedge fund Land and Buildings (Stamford, Conn.) began urging the company to consider going private and to monetize its real estate holdings. The company currently owns $10 billion in real estate assets throughout North America and Europe.

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