By  on December 3, 2019

The battle over the Hudson Bay Co. heated up Tuesday with the special committee of the board of directors denouncing a bid by The Catalyst Capital Group to acquire the company as “not reasonably capable of being consummated.”

The HBC committee has already given a thumbs-up on the $10.30 per share bid by Richard Baker, HBC’s executive chairman, partnering with other key shareholders who combined own 57 percent of the shares of the company.

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