Vive Le Canada

HBC might get taken over
Date: Wednesday, December 10 2003

I think this is the last thing we have left

Hudson's Bay shares jump on takeover talk

Last Updated Wed, 10 Dec 2003 17:00:56

TORONTO - Shares of Hudson's Bay Co. (TSX:HBC) rose sharply Wednesday after an investment firm controlled by an American businessman disclosed it may bid for the venerable retailer.

HBC's stock gained more than 14.5 per cent on the TSX, rising $1.55 to $12.20.

Earlier in the afternoon, Maple Leaf Heritage Investments said it had bought 25,000 common shares of HBC, bringing its total holding to over 6.9 million shares or 10.03 per cent of the common shares of Hudson's Bay Co.

Maple Leaf said it is reviewing its investment alternatives and may acquire additional common shares or make an offer to acquire all or some of the common shares of HBC.

Hudson's Bay shares jump on takeover talk

Hudson's Bay shares jum...

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