Deal reached to sell Saks to Hudson's Bay, sources say

07/28/2013 | New York Post · Reuters

Canadian department-store chain Hudson's Bay has bought Saks, according to sources. The sale adds Saks Fifth Avenue to Hudson's holdings, which include Lord & Taylor and Canada's The Bay chain. Spokespeople for Saks and Hudson's Bay declined comment, but sources say the sale has the blessing of the two largest shareholders in Saks.

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New York Post · Reuters

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