Department store chain Hudson’s Bay has acquired American
fashion retailer Saks for $2.9 billion or $16 a share, including debt. The
combined company will now operate 320 stores, including 179 full-line department
stores, 72 outlet stores and 69 home stores in locations in the U.S. and Canada
along with three ecommerce websites. The transaction is expected to close
before the end of the calendar year.
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