10:43 AM EST - Hudson’s Bay Company : and Saks Incorporated announced today that they have entered into a definitive merger agreement whereby HBC will acquire Saks for $16.00 U.S. per share in an all-cash transaction valued at approximately $2.9 billion U.S., including debt. The transaction has been approved by each company’s board of directors and is expected to close before the end of the calendar year, subject to approval by Saks shareholders, regulatory approvals and other customary closing conditions. Hudson’s Bay Company
shares T.HBC are trading up $1.14 at $17.63.
