1. Hudson’s Bay Calls Foul on Land & Buildings’ Activist Agitation

    wwd.com BoardNews
    Hudson’s Bay Calls Foul on Land & Buildings’ Activist Agitation

    Hudson's Bay Co. is selling Lord & Taylor's Fifth Avenue flagship for $850 million. AP/REX/Shutterstock Hudson’s Bay Co. is pushing back against agitation by real estate-focused activist investor Land & Buildings...

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    1. The other terms of Rhone's equity investment are customary for transactions of this nature and were, contrary to Land & Buildings' assertion, negotiated at arm's length.
    2. None of them stand to gain any special benefit from the transactions. It is therefore Land & Buildings that is seeking to disenfranchise shareholders in order to try to impose its will on the company's shareholders.
    3. As we've previously stated, our European business is an important element of the company's strategy.
    4. HBC remains focused on executing its strategy and plans for the upcoming holiday season.

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