By  on August 19, 2013

Saks Inc. posted wider-than-expected losses and weaker sales in the second quarter as well as $2.5 million in costs related to its pending buyout by Richard Baker’s Hudson’s Bay Co.

The luxe retailer is in the midst of a 40-day go-shop period in which it can try to find a bid to top the $16 a share offered by Baker, which values the company at $2.9 billion including debt.

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