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Report: Canadian retailer Hudson's Bay to own Saks Fifth Avenue
NEW YORK, July 29 () -- The race to scoop up U.S. luxury retailer Saks Fifth Avenue has been won by Canadian chain Hudson's Bay, sources told the New York Post."It's a done deal. Baker has won his prize," one source told the Post, referring to Richard Baker,[url=http://www.panyam.com/]gucci outlet online[/url], the chairman at Hudson's Bay who orchestrated a purchase of Lord & Taylor in 2006.Saks had hired Goldman Sachs to find a buyer,[url=http://www.ksacinc.com/christianlouboutindiscount]christian louboutin discount[/url], but a spokesman for the financial giant would not comment on the sale, the Post said.The price of the deal was not disclosed but the final figure is likely between $17 and $18 per share, a jump ahead of Hudson's Bay's original offer of $15 to $16 per share,[url=http://www.ewwealth.com/]christian louboutin outlet[/url], the Post said.Real estate tycoon Barry Sternlicht was interested in Saks, but backed down after his partner, Catterton Partners, pulled back. A late bid from an undisclosed candidate also failed to materialize. That bid was reported to be from a sovereign investments fund in the Middle East.