HBC spikes after Catalyst, Baker group reach deal on sweetened bid

Shares in Hudson’s Bay Co. jumped nearly 10 per cent in Monday trading after a deal that appeared to put a months-long privatization battle to rest.

HBC shares closed up 96 cents, or 9.72 per cent, to $10.84 on the Toronto Stock Exchange Monday.

The lift came after a group led by HBC executive chairman Richard Baker boosted its privatization offer for the retailer to $11 per share late Friday night.

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2020-01-08T12:18:35-04:00 January 8th, 2020|