Saks Fifth Avenue, Lord & Taylor, Macy’s and Bloomingdale’s? All of these nameplates could be under one umbrella soon.
The Wall Street Journal is reporting that Hudson’s Bay Co. has approached Macy’s Inc. about a takeover. Macy’s stock jumped more than 7 percent on the news.
The Canadian company, which owns Saks and Lord & Taylor, has made an offer, and the two companies are in early talks. What the result might be is unclear. Beyond takeover, the two entities are considering other scenarios as well. For instance, Hudson’s Bay could be interested in Macy’s real estate.
Read more at Sourcing Journal.