By  on October 21, 2019

Richard Baker and his group of key Hudson Bay Co. shareholders have moved another step toward taking the retailer private.

A special committee of HBC’s board has approved the latest offer by Baker and his group, which collectively own 57 percent of the company, to purchase the remaining 43 percent of the shares for $10.30 per share in cash in Canadian dollars, or $7.86 U.S.

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