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Hudson's Bay Co to Acquire Saks Incorporated For USD16 Per Share

Monday, 29 Jul 2013 07:00am EDT 

Hudson's Bay Company and Saks Incorporated (Saks) announced that they have entered into a definitive merger agreement whereby HBC will acquire Saks for USD16.00 per share in an all-cash transaction valued at approximately USD2.9 billion, including debt. The transaction has been approved by each Company's board of directors and is expected to close before the end of the calendar year, subject to approval by Saks shareholders, regulatory approvals and other customary closing conditions. 

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-0.07 -0.43%
3:20pm EDT