Hudson’s Bay Completes Saks Acquisition

Hudson’s Bay announced it successfully completed its previously announced acquisition of all of the outstanding shares of Saks

Hudson’s Secures $1.9B in Commitments from BofA, RBC

Bloomberg reported that Bank of America and Royal Bank of Canada provided $1.9 billion in term loans to finance HBC’s previously announced acquisition of Saks, citing regulatory filings.

BofA Merrill, RBC Support Saks Sale to HBC

Lord & Taylor parent Hudson’s Bay Company and Saks agreed to merge in an all-cash transaction valued at approximately $2.9 billion. BofA Merrill and RBC provided HBC with fully committed credit facilities to help finance the transaction.