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Catalyst discloses it has raised HBC stake to 16%

Sep 11, 2019 - The Globe and Mail (Canada)

Catalyst Capital Group Inc. has amassed a 16-per-cent stake in Hudson's Bay Co. as the Toronto-based private-equity firm seeks to stymie a privatization bid from the retailer's executive chairman.

Catalyst said in a regulatory filing on Tuesday that it controls 29.4 million HBC shares after a tender offer for $10.11 a share it completed last month. The firm, led by financier Newton Glassman, spent $187-million on the stock, which added to a position it had previously purchased.

HBC e...