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Retail

Saks owner HBC’s insider group sends stinger letter to oppose Catalyst Capital offer

December 3, 2019

Fireworks display as Saks unveils holiday windows and lighting at its Fifth Avenue flagship store in New York. Image credit: Saks Fifth Avenue Fireworks display as Saks unveils holiday windows and lighting at its Fifth Avenue flagship store in New York. Image credit: Saks Fifth Avenue

 

By Staff reports

The battle for control of Saks owner Hudson’s Bay Company has escalated after current management sent a letter to a special committee to reject an all-cash offer from Catalyst Capital Group that values the company at around $1.5 billion.

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