{"id":50169,"date":"2019-11-27T10:01:14","date_gmt":"2019-11-27T15:01:14","guid":{"rendered":"http:\/\/mileniostadium.com\/?p=50169"},"modified":"2019-11-27T10:01:14","modified_gmt":"2019-11-27T15:01:14","slug":"catalyst-capital-group-makes-rival-takeover-offer-for-hudsons-bay-co","status":"publish","type":"post","link":"https:\/\/mileniostadium.com\/canada\/catalyst-capital-group-makes-rival-takeover-offer-for-hudsons-bay-co\/","title":{"rendered":"Catalyst Capital Group makes rival takeover offer for Hudson’s Bay Co"},"content":{"rendered":"
Catalyst Capital Group Inc. is making a rival takeover offer for Hudson’s Bay Co.<\/p>\n
The investment firm is offering $11 per share in cash, topping an offer of $10.30 made by a group of investors led by HBC executive chairman Richard Baker.<\/p>\n Catalyst already holds a roughly 17.5 per cent stake in HBC and has said it plans to vote against the offer by the group led by Baker.<\/p>\n Gabriel de Alba, managing director and partner of Catalyst, says the firm’s offer is independently financed, superior in both value and treatment of shareholders and can be completed in a timely manner.<\/p>\n In making its proposal, Catalyst also filed a complaint with the Ontario Securities Commission regarding the Baker group bid.<\/p>\n It alleges the insider issuer offer is the result of a flawed process and asked the regulator to examine the proposal and take appropriate action.<\/p>\n CBC<\/p>\n