October 21, 2019 / 12:11 PM / a month ago

Hudson's Bay agrees to chairman's sweetened go-private offer

Oct 21 (Reuters) - Hudson’s Bay Co said on Monday it has agreed to a higher offer of C$1.90 billion ($1.45 billion) from a group of shareholders led by its Executive Chairman Richard Baker to take the struggling Canadian department store chain private.

The group has offered C$10.30 per share in cash for the 43% of shares it does not own, the Canadian retailer said.

The Baker-led group in June offered C$1.74 billion, or C$9.45. ($1 = 1.3104 Canadian dollars) (Reporting by Soundarya J in Bengaluru; Editing by Sriraj Kalluvila)

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