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MarketScreener Homepage  >  Equities  >  Toronto Stock Exchange  >  Hudson's Bay Company    HBC   CA4442181018

HUDSON'S BAY COMPANY

(HBC)
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Hudson Bay : Catalyst Capital raises number of HBC shares it's seeking to 19.8 million

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08/06/2019 | 11:58am EST

TORONTO — Investment firm Catalyst Capital Group Inc. says it has boosted the number of Hudson's Bay Co. shares it's seeking to buy in an effort to oppose a proposal to privatize the retailer.

The firm says it is now seeking to buy up to 19.8 million shares at $10.11 each, up from 14.8 million shares, for a total bid value of $200 million.

The offer, seeking about 10.75 per cent of outstanding shares, came after an insider group led by board chairman Richard Baker made a bid in June of $9.45 per share to take the retailer private.

Catalyst says the Baker-led offer greatly undervalues the company, which owns the Saks Fifth Avenue, Hudson's Bay, Lord &Taylor and Saks OFF 5th retail brands as well as significant real estate holdings.

A committee of independent directors said last week that the Baker-led offer was inadequate.

The Catalyst offer remains open until 5 p.m. ET on Aug. 16 unless it is extended, varied or withdrawn.

Companies in this story: (TSX:HBC)

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

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Financials (CAD)
Sales 2020 8 108 M
EBIT 2020 453 M
Net income 2020 -
Debt 2020 -
Yield 2020 0,57%
P/E ratio 2020 -
P/E ratio 2021 -
Capi. / Sales2020 0,26x
Capi. / Sales2021 0,26x
Capitalization 2 127 M
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Mean consensus UNDERPERFORM
Number of Analysts 6
Average target price 10,71  CAD
Last Close Price 8,78  CAD
Spread / Highest target 36,7%
Spread / Average Target 22,0%
Spread / Lowest Target 16,7%
EPS Revisions
Managers
NameTitle
Helena B. Foulkes Chief Executive Officer & Director
Richard A. Baker Executive Chairman & Governor
Rebecca A. Roof Chief Financial Officer
Stephen J. Gold Chief Technology & Digital Operations Officer
Robert C. Baker Director
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