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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 : HBC minority shareholder files lawsuit to block privatization bid

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12/06/2019 | 01:16pm EST

A minority shareholder filed a lawsuit today to block a bid to take Hudson's Bay Co. private.

New-York based Ortelius Advisors L.P. says it filed a lawsuit at the Ontario Superior Court of Justice against Hudson's Bay Co. and the group making the privatization bid led by HBC executive chairman Richard Baker.

The suit alleges the Baker-led group did not act in the interest of shareholders and prevented a fair market price for their shares, and that HBC made a number of misrepresentations and omissions in an information circular it prepared for shareholders.

None of the claims have been proved in court. Neither HBC nor the shareholder group behind the bid immediately responded to a request for comment.

The matter is also before the Ontario Securities Commission after another minority shareholder, Catalyst Capital Group Inc., requested a hearing to block the bid.

HBC has scheduled a special meeting of shareholders to vote on the privatization proposal for $10.30 per share on Dec. 17. The company is encouraging minority shareholders to support the bid.

This report by The Canadian Press was first published Dec. 6, 2019.

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 8 090 M
EBIT 2020 596 M
Net income 2020 -983 M
Debt 2020 898 M
Yield 2020 0,46%
P/E ratio 2020 -
P/E ratio 2021 -19,1x
EV / Sales2020 0,43x
EV / Sales2021 0,32x
Capitalization 2 565 M
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Mean consensus UNDERPERFORM
Number of Analysts 5
Average target price 11,25  CAD
Last Close Price 10,88  CAD
Spread / Highest target 10,3%
Spread / Average Target 3,40%
Spread / Lowest Target 1,10%
EPS Revisions
Managers
NameTitle
Helena B. Foulkes Chief Executive Officer & Director
Richard A. Baker Executive Chairman & Governor
Edward J. Record Chief Financial Officer
Stephen J. Gold Chief Technology & Digital Operations Officer
Robert C. Baker Director
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