(Reuters) – Hudson’s Bay Co (HBC.TO) investor Ortelius Advisors LP said it will vote against the Saks Fifth Avenue owner’s C$1.9 billion ($1.4 billion) take-private deal because of what the hedge fund views as lapses in the sales process. Ortelius joins a number of investors who say the sale of the company to its Executive Chairman Richard Baker and a group of Hudson’s Bay shareholders with total voting control of 57% over the retailer is not generous enough.
Hudson’s Bay investor says will vote against take-private deal
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