- #1
fourier jr
- 765
- 13
after ~140 years of waiting, Americans will finally get to own the HBC! At last HBC agrees to get acquired!
http://www.cbc.ca/story/business/national/2006/01/26/bay-060126.html
I highly doubt that our new conservative government led by the "free-trading" economist will try to stop it like when CNOOC tried to take over UNOCAL:
Hudson's Bay Co., the oldest company in Canada, has agreed to be acquired by South Carolina billionaire businessman Jerry Zucker in a deal worth more than $1 billion...
Hudson's Bay, founded in 1670, is Canada's largest department store chain with 550 stores, including the Bay, Zellers, and Home Outfitters. It has 70,000 employees.
http://www.cbc.ca/story/business/national/2006/01/26/bay-060126.html
I highly doubt that our new conservative government led by the "free-trading" economist will try to stop it like when CNOOC tried to take over UNOCAL:
http://business.timesonline.co.uk/article/0,,13129-1718342,00.htmlCNOOC, the Chinese state-backed oil group, today angrily tore up its $18.5 billion bid for Unocal, the American company, in the process lashing out at American protectionism for ruining its chances of securing a deal.
As it cited "unprecedented political opposition" as the main reason for withdrawing its offer, CNOOC argued that its own bid was delivered on purely commercial grounds and was worth $1 billion more than a rival offer from Chevron.
...
In a statement detailing its withdrawal from the bid process, CNOOC said: "The unprecedented political opposition that followed the announcement of our proposed transaction, attempting to replace or amend the CFIUS [Committee on Foreign Investments in the US] process that has been successfully in operation for decades, was regrettable and unjustified.
Last edited by a moderator: