July 31, 2017 / 1:27 PM / 2 months ago

BRIEF-Land and buildings issues letter to Hudson’s Bay shareholders regarding potential call of special meeting to remove directors

July 31 (Reuters) - Hudson’s Bay Co

* Land and Buildings issues letter to Hudson’s Bay shareholders regarding potential call of special meeting to remove directors

* Land and Buildings - is a shareholder of hudson’s bay with ownership approaching 5% of the company’s outstanding shares

* Land and Buildings says recently met with senior management team of Hudson’S Bay, including executive chairman and CEO to discuss concerns‍​

* Land and Buildings says Hudson’s Bay should exit Europe by selling Galeria Kaufhof real estate, operations, or both, with proceeds distributed to shareholders

* Land and Buildings says ‍believe Saks fifth avenue location could be worth in excess of c$16 ‍per share net of debt​

* Land and Buildings says Hudson’s Bay should ‍develop a plan for each asset in US and Canadian joint ventures​

* Land and Buildings says Hudson’s Bay should migrate back to its roots as a canadian retailer

* Land and Buildings says there should be thorough review of all hudson’s bay capital expenditures related to existing assets, new store openings, m&a ambitions

* Land and buildings says ‍a management led buyout of Hudson’s Bay “could be an intriguing avenue to pursue for all parties​” Source text for Eikon: [ID: nBw3nzN8Wa] Further company coverage:

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