Saks Incorporated To Be Acquired By Hudson Bay

Saks Incorporated To Be Acquired By Hudson Bay

Canadian chain Hudson's Bay company has agreed to buy retailer Saks Incorporated in an all-cash deal.
Canadian chain Hudson's Bay company has agreed to buy retailer Saks Incorporated in an all-cash deal.

The transaction is valued at $2.9 billion, including debt.

Under the terms, the Hudson's Bay Company will pay 16-dollars a share for Saks.

The deal pairs Saks Fifth Avenue with Lord and Taylor, which is also owned by Hudson's Bay Company.
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