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EXCLUSIVE-Hudson's Bay to review options after activist pressure -sources
August 25, 2017 / 7:00 PM / a month ago

EXCLUSIVE-Hudson's Bay to review options after activist pressure -sources

Aug 25 (Reuters) - Hudson’s Bay Co, the owner of the Saks Fifth Avenue and Lord & Taylor retail chains, is seeking to carry out a review of its options, including going private, following pressure from an activist shareholder, people familiar with the matter said.

Hudson’s Bay, which is already working with an investment bank to defend itself against activist hedge fund Land and Buildings, has been seeking to hire another financial adviser to carry out the review, the people said this week.

The review will consider all available options, from the possibility of the company going private to potential sales of retail assets and real estate, the sources said, cautioning that no transaction is certain.

The sources asked not to be identified because the deliberations are confidential. Hudson’s Bay did not immediately respond to a request for comment. (Reporting by Carl O‘Donnell and Lauren Hirsch in New York; Additional reporting by Greg Roumeliotis and Michael Flaherty in New York; Editing by Meredith Mazzilli)

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