BUZZ-Dillard's Inc: Hudson's Bay considering acquisition - report

Tue Dec 23, 2014 10:08am EST
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** Department store operator's shares up 5 pct at $122.3

** Dillard's is being considered an acquisition target by Canada-based Hudson's Bay Co's Chief Executive Richard Baker, The Deal reported on its website, citing people familiar with the situation (

** Baker is interested in acquiring Dillard's because of its valuable real estate holdings and as it is one of the "better run" department store chains, the report said, without specifying a deal value

** Dillard's and Hudson's Bay was not available for comment

** Dillard's shareholder Marcato Capital Management had recommended a spin off the company's real estate assets into a stand-alone real estate investment trust in November

** Up to Monday's close, the company's shares had risen 20 pct this year