By  on October 21, 2019

The Hudson’s Bay Co. has entered into an agreement with a group of shareholders to take the company private at 10.30 Canadian dollars a share.

The agreement is based on the recommendation of an independent special committee of the board of directors following a review of the privatization bid by a group of key shareholders, including HBC’s chairman and governor Richard Baker, representing 57 percent of the common shares of the Toronto-based company.

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