Saks Fifth Avenue has moved into its new home at Hudson’s Bay Co.
Hudson’s Bay said its deal to buy Saks Inc. for $3 billion, which includes debt and expenses, closed today. Saks stockholders get $16 for each of their shares, and Hudson’s Bay’s chief executive officer Richard Baker gets a third, and more upscale, chain for his retail business, which already included Hudson’s Bay and Lord & Taylor.
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