February 3, 2017 / 3:58 PM / 7 months ago

BUZZ-Macy's Inc: Hudson's Bay in early-stage takeover talks

** Biggest U.S. department store operator's shares rise as much as 11.8 pct to $34.35 - biggest pct gain in more than 6 months

** Canadian department store operator Hudson's Bay Co in early-stage talks to acquire Macy's - source

** Macy's' trades at 9.6 times forward PE vs 15.7 times median forward PE for diversified retailers

** Macy's long-term debt as of October was $6.56 bln; It had a market value of about $9.4 bln as of Thursday's close

** Hudson's Bay shares up 2.5 pct at C$10.20

** Macy's' shares trading 1.8 times their 30-day average

** Up to Thursday's close, Macy's shares had fallen 26.2 pct in the last 12 months

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