Hudson's Bay agrees to be acquired by U.S. investor Zucker

[tuvor]

Hudson's Bay Co., the oldest company in Canada, has agreed to be acquired by South Carolina billionaire businessman Jerry Zucker in a deal worth more than $1 billion.

Zucker's company, Maple Leaf Heritage Investments, increased its offer for shares of HBC by 50 cents a share to $15.25 a share.

HBC shares closed Thursday at $15.03 on the TSX, up $1.10.

HBC's board, which said it had considered "several offers" for the company, has endorsed Zucker's all-cash bid and is recommending that shareholders tender their shares to the offer.

http://www.cbc.ca/story/business/national/2006/01/26/bay-060126.html

[Botany]

1. I hope Hudson's Bay stays true to it's roots.

[applegrove]

2. Yup. Oldest company in North America. From 1670. That makes it

335 years old or so. By the way - those blankets were pretty. The aboriginal people certainly thought so ... that was what came after beeds and alcohol. Who wouldn't want a wool blanket if you lived North of the USA.

[applegrove]

3. Americans better hurry up and buy up Canadian corporations. Because

when peak oil hits - you will not be able to afford our dollar.:sarcasm: