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Company News

Catalyst challenges Baker's C$1.9 bln offer for Hudson's Bay

Nov 27 (Reuters) - Private equity firm Catalyst Capital Group Inc on Wednesday offered to buy Hudson’s Bay Co in deal that valued it at C$2.03 billion ($1.53 billion), challenging an agreed deal with a consortium led by executive chairman Richard Baker.

Catalyst, which owns 17.5% of the Hudson’s Bay, offered C$11 per share, topping Baker’s C$10.30 per share proposal.

$1 = 1.3301 Canadian dollars Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila

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