By  on June 19, 2017
Taxis pass Saks flaship store on New York's Fifth Avenue, . Saks Inc. agreed to sell itself to Hudson's Bay Co., the Canadian parent of upscale retailer Lord & Taylor, for about $2.4 billion in a deal that will bring luxury to more North American localesSaks Acquisition, New York, USA

Saks Fifth Avenue's parent company, Hudson's Bay Co., is being pressured to get more value out of its real estate.

Richard Drew/AP/REX/Shutterstock

The pressure is growing for Hudson's Bay Co. to raise shareholder value.

With HBC's stock price sinking, Land & Buildings Investment Management LLC  sent a public letter to HBC's board of directors to "evaluate all strategic alternatives to maximize shareholder value." Land & Buildings holds 4.3 percent of Hudson's Bay shares.

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