Richard Baker news and archive

Hudson's Bay Co. chairman considers raising offer for retailer

Hudson's Bay Co. chairman Richard Baker and his partners have approached the company's minority shareholders about raising the offer to take the company private. Baker has suggested the idea of raising the offer to 11 dollars a share up from 10 dollars and 30 cents a share. Collectively, Baker and his group own 57 percent of Hudson's Bay Co.,...

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Hudson’s Bay Company agrees to takeover bid from Baker-led group

Hudson’s Bay Company (HBC) has announced that, it has entered into a definitive arrangement agreement with a group of HBC shareholders backed by Executive Chairman Richard Baker, to take the Company private. The company said in a statement that the shareholder group, who collectively owns approximately 57 percent of the common shares, will be...

Business

HBC in talks to go private

After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with...

Business

Richard Baker to buy Ontario pension fund stake in retailer

A venture controlled by HBC Chairman Richard Baker will buy the stake owned by a unit of Ontario Teachers’ Pension Plan Board in the Canadian retailer, according to L&T B Cayman, a top shareholder in Hudson’s Bay and a joint buyer. The news was reported by CNBC. Hudson's Bay portfolio includes Saks Fifth Avenue, Lord & Taylor, and Galeria...