Activist investor Land and Buildings on Tuesday reiterated that Canadian department store operator Hudson’s Bay Co’s real estate assets were worth substantially more than the company’s current market valuation.
The Canadian retailer has reached an agreement with shareholder Land & Buildings, under which the activist investor would withdraw its appeal against the conditional approval given for an investment by Rhone Capital.
Signa Holding GmbH, the Austrian group that owns German department store operator Karstadt, sent Hudson’s Bay Co this week details of the financing it has put together for its 3 billion euro bid for Kaufhof.
Saks Fifth Avenue owner Hudson’s Bay Co said on Wednesday it had received a bid for its German department store chain Kaufhof from Signa Holding, the Austrian property and retail group that owns Karstadt.
Canadian department store operator Hudson’s Bay Co agreed to sell its Lord & Taylor flagship building in New York for $850m to WeWork, in what may be a step toward easing tensions with activist investor Jonathan Litt.
Premium men’s activewear label Rhone partnered with luxury health club chain Equinox to open 11 "Shop @ Equniox" pop ups across the U.S., featuring an expanded assortment of the label's high-performance apparel.