TORONTO (Reuters) - Hudson’s Bay Co (HBC.TO) shares extended gains on Wednesday, as trading resumed, after the company confirmed an earlier Reuters report that it had received a bid for HBC’s German department store operation Kaufhof from Austrian property and retail group Signa Holding.
When the shares were halted, they were trading up 6.8 percent on the back on Reuters story. By 1736 GMT, the stock was up 8.5 percent at C$12.23, retreating from day’s high of C$12.53.
The Toronto-based company said the bid was unsolicited, with no evidence of financing, HBC said in a statement, adding the company will review the offer.
Reporting by Nichola Saminather, editing by G Crosse