Vive Le Canada

One More Canadian Icon About To Be Taken Over
Date: Thursday, December 11 2003

A wealthy South Carolina industrialist and investor is stalking the last Canadian-owned department store chain.

Jerry Zucker, through his conglomerate Intertech Group Inc., has acquired 10 per cent of the shares in Hudson's Bay Co. with a view possibly to buying the national retailer.

"We think this is an undervalued company, a well-run company with good prospects," said Robert Johnston, a vice-president at InterTech, one of America's 50 largest private companies, according to Forbes magazine.

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