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Hudson's Bay Co (HBC.TO)

HBC.TO on Toronto Stock Exchange

17 Nov 2017
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$0.02 (+0.18%)
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Latest Key Developments (Source: Significant Developments)

Hudson’S Bay Company responds to appeal of TSX conditional approval for Rhône Capital Equity Investment
Wednesday, 15 Nov 2017 05:20pm EST 

Nov 15 (Reuters) - Hudson's Bay Co :Hudson’S Bay Company responds to appeal of tsx conditional approval for Rhône Capital Equity Investment.Provided update related to Rhône Capital's Equity Investment of U.S. $500 million in form of 8-year mandatory convertible preferred shares​.Hudson's Bay says received notice of an appeal by land & buildings regarding TSX decision to conditionally approve Rhône Capital's Equity Investment​.Hudson's Bay says "‍will seek to have tsx decision confirmed" regarding Rhône Capital's Equity Investment​ and "appeal dismissed on an expedited basis".Hudson's Bay says ‍will continue to proceed with fulfilling all regulatory requirements to close Rhône Capital's Equity Investment​.  Full Article

HBC appoints Milton Pappas to chief marketing officer
Monday, 6 Nov 2017 04:30pm EST 

Nov 6 (Reuters) - Hudson's Bay Co :HBC appoints Milton Pappas to Chief Marketing Officer.Hudson's Bay Co - ‍Pappas joined HBC in September 2016 as senior vice president, digital marketing​.  Full Article

Hudson's Bay says will consider proposal by Signa
Thursday, 2 Nov 2017 07:30am EDT 

Nov 2 (Reuters) - Hudson's Bay Co :Hudson's Bay Co ‍responds to Land & Buildings' press release issued on November 1, 2017​."‍HBC board will review conditional, non-binding, preliminary proposal by Signa in accordance with its fiduciary duties​".  Full Article

Signa confirms has submitted offer for Hudson's Bay's Kaufhof‍​
Thursday, 2 Nov 2017 05:59am EDT 

Nov 2 (Reuters) - Signa Spokesman :Confirms has submitted offer for Hudson's Bay's <<>> Kaufhof‍​.  Full Article

‍land & Buildings Investment Management issues letter to Hudson's Bay shareholders
Wednesday, 1 Nov 2017 02:29pm EDT 

Nov 1 (Reuters) - ‍Land & Buildings Investment Management Llc::‍Land & Buildings Investment Management Llc issued letter to shareholders of Hudson's Bay Co.‍Land & Buildings Investment Management Llc - Hudson's Bay board should "seriously consider" reported Signa fully financed EUR 3.0 billion offer for its European business​.  Full Article

Riocan-HBC JV to explore possible sale of Vancouver property
Monday, 30 Oct 2017 03:16pm EDT 

Oct 30 (Reuters) - Riocan-HBC JV::Riocan-HBC joint venture to explore possible sale of vancouver property.Says has engaged CBRE and Brookfield Financial Real Estate Group to explore a possible sale of its Vancouver property.Says expects to close on $200 million mortgage on Vancouver property, proceeds of loan to be distributed on a pro-rata basis to JV partners ​.  Full Article

HBC head says sees no reason to change Europe strategy
Tuesday, 24 Oct 2017 08:30am EDT 

Oct 24 (Reuters) - Hbc :Head says sees no reason to change europe strategy.Head says we have no intention of selling German department store chain Kaufhof.  Full Article

Hudson's Bay to sell Lord & Taylor 5th Ave building
Tuesday, 24 Oct 2017 07:30am EDT 

Oct 24 (Reuters) - Hudson's Bay Co ::HBC and WeWork enter into global, multi-faceted strategic relationship.Hudson's Bay Co - ‍WeWork property advisors to acquire Lord & Taylor Fifth Avenue building in a transaction valued at U.S.$850 million​.Hudson's Bay Co - ‍Rhône Capital to make u.s.$500 million equity investment in HBC​.Hudson's Bay Co - ‍HBC to reduce outstanding debt and/or increase cash by approximately c$1.6 billion and increase total liquidity by c$1.1 billion​.Hudson's Bay Co - ‍HBC currently anticipates minimal impact on its earnings from sale of Lord & Taylor Fifth Avenue building​.Hudson's Bay Co - strategic alliance is expected to produce future real estate deals and monetizations, consistent with hbc's strategic objectives​.Hudson's Bay Co - ‍companies intend to implement a reciprocal benefits program to enhance their respective product offerings​.Hudson's Bay Co - ‍lord & Taylor Fifth Avenue flagship store is expected to continue operations in entire building throughout 2018 holiday season​.Hudson's Bay - to use proceeds from private placement & sale of lord & taylor fifth avenue building to reduce indebtedness under asset-based revolving facility​.Hudson's Bay - an investment vehicle affiliated with rhône, subscribed for 50.92 million hbc's series a convertible preferred shares at $9.82 per share​.Hudson's Bay Co - ‍in connection with private placement, hbc has concurrently entered into an investor rights agreement with Rhône​.  Full Article

Hudson's bay CEO ‍Jerry Storch steps down
Friday, 20 Oct 2017 04:30pm EDT 

Oct 20 (Reuters) - Hudson's Bay Co :HBC announces CEO transition.Hudson's Bay Co - ‍Jerry Storch steps down as CEO​.Hudson's Bay Co - ‍governor and executive chairman Richard Baker to reassume CEO role on an interim basis​.Hudson's Bay Co - ‍company has retained an executive search firm to recruit a CEO​.  Full Article

Hudson's Bay says "stands 100 percent" behind Galeria Kaufhof
Friday, 8 Sep 2017 03:32am EDT 

Sept 8 (Reuters) - Hudson's Bay :Says "stands 100 percent" behind Germany's Galeria Kaufhof, no interest in doing business with Austria's Signa.  Full Article

UPDATE 1-Hudson's Bay says no merit in appeal against Rhone investment

Nov 15 Canadian department store operator Hudson's Bay Co said it saw no merit in activist fund Land and Buildings' recent appeal against the Toronto Stock Exchange's conditional approval for a $500 million investment from Rhone Capital.