July 31, 2017 / 1:42 PM / 3 months ago

Activist investor threatens proxy war at Hudson's Bay

July 31 (Reuters) - U.S. activist investor Land and Buildings Investment Management warned it would consider a push to remove some directors at Hudson’s Bay Co if the Canadian retailer did not take steps “to enhance shareholder value”.

The investor last month asked the company to consider going private and monetize its vast real estate holdings amid declining sales at its retail stores.

Jonathan Litt-controlled Land and Buildings, which owns nearly 5 percent of Hudson’s Bay stock, also laid out a plan to monetize the company’s assets, including the Saks Fifth Avenue store in New York. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Saumyadeb Chakrabarty)

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