Quantcast
Get breaking news alerts via email

Click here to manage your alerts
Hudson’s Bay buying Saks for about $2.4 billion


< Previous Page


Saks will continue to run as a separate company under Hudson’s Bay and will have its own merchandising, marketing and store operations employees. Key management personnel are expected to remain with the company. But it wasn’t clear whether Sadove would be staying on.

In an email statement to The Associated Press, Saks spokeswoman Julia Bentley said "specific decisions about management and the organizational structure have not been made at this time." Sadove wasn’t available for an interview.

Join the Discussion
Post a Comment

Saks will have a 40-day period in which to seek out alternative third-party bids.

The buyout, which was approved by both companies’ boards, is targeted to close before year’s end. It still needs approval from Saks’ shareholders.

Hudson’s Bay said that it will look at strategic options for the combined property portfolio, which could include establishing a real estate investment trust.

Hudson’s Bay said it aims to save $100 million in operating costs in the first three years by combining distribution centers and other back-office facilities of Hudson’s Bay and Saks Fifth Avenue.




Copyright 2014 The Salt Lake Tribune. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Top Reader Comments Read All Comments Post a Comment
Click here to read all comments   Click here to post a comment


About Reader Comments


Reader comments on sltrib.com are the opinions of the writer, not The Salt Lake Tribune. We will delete comments containing obscenities, personal attacks and inappropriate or offensive remarks. Flagrant or repeat violators will be banned. If you see an objectionable comment, please alert us by clicking the arrow on the upper right side of the comment and selecting "Flag comment as inappropriate". If you've recently registered with Disqus or aren't seeing your comments immediately, you may need to verify your email address. To do so, visit disqus.com/account.
See more about comments here.
Staying Connected
Videos
Jobs
Contests and Promotions
  • Search Obituaries
  • Place an Obituary

  • Search Cars
  • Search Homes
  • Search Jobs
  • Search Marketplace
  • Search Legal Notices

  • Other Services
  • Advertise With Us
  • Subscribe to the Newspaper
  • Access your e-Edition
  • Frequently Asked Questions
  • Contact a newsroom staff member
  • Access the Trib Archives
  • Privacy Policy
  • Missing your paper? Need to place your paper on vacation hold? For this and any other subscription related needs, click here or call 801.204.6100.