Hudson’s Bay Co. is in talks to take over Macy’s, according to a report from the Wall Street Journal, citing sources familiar with the matter.
As first reported in The Post, Macy’s CEO Terry Lundgren recently became open to offers from potential friendly buyers as a proactive measure to head off any attempt at a board shakeup by Jeffrey Smith’s Starboard Value, the activist New York hedge fund.
The Journal report said that the talks are at a preliminary stage, adding that one source said they also encompass other ways the companies could cooperate and that a deal for Macy’s real estate is also a possibility.
Canada’s Hudson’s Bay owns Lord & Taylor department stores and Saks Fifth Avenue.
Our editors found this article on this site using Google and regenerated it for our readers.