By  on June 10, 2019

Richard Baker hopes to take Hudson’s Bay Co. private to save it — and is shrinking it as well.

Shares of HBC skyrocketed 42.4 percent Monday after its executive chairman, along with a group of other shareholders, proposed taking the company private at 9.45 Canadian dollars, or $7.13. The stock closed Monday up 2.70 to 9.07 Canadian dollars on the Toronto Stock Exchange.

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