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According to The New York Times, Macy’s (M) approached by Canada’s Hudson’s Bay

  • March 3, 2017

Hudson’s Bay Company (HBC.TO), the Canadian owner of Saks, has approached Macy’s (M) about a potential takeover, people briefed on the matter who were not authorized to speak publicly said on Friday.

Update(s)

March 3, 2017: Canada’s Hudson’s Bay (HBC.TO), owner of the Lord & Taylor and Saks Fifth Avenue retail chains, has yet to line up equity financing for a bid for Macy’s (M), over a month after approaching its U.S. peer, people familiar with the matter said. – Reuters

March 3, 2017: Hopes for a deal to sell Macy’s (M) are fading as the department store giant refuses to take a discount, sources told The Post. Hudson’s Bay, the owner of Saks Fifth Avenue and Lord & Taylor, is the only bidder that has stepped forward so far, and is put off by the “high price”. – New York Post.