HIGHER PRICE: In the Saks Inc. regulatory filing with the Securities and Exchange Commission on Thursday, the company said the amount needed to complete the acquisition by Hudson’s Bay and related transactions, as well as pay-related fees and expenses, will be $3 billion. That’s $100 million more than first expected.

The regulatory filing said the completion of the deal is not subject to any financing condition. Funding of the transaction will be through some portion of a combination of equity investments totaling $1 billion, debt financing comprised of $2.3 billion of secured term debt and a $950 million senior secured asset-based revolving facility and available cash on hand.

This story first appeared in the October 4, 2013 issue of WWD. Subscribe Today.

Saks in the filing also disclosed that a shareholders meeting will be held Oct. 30 at 11 a.m. in New York at the University Club to vote on the transaction. The Saks board has already approved of the merger agreement. The filing said that the merger is expected to be completed in November.

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