Willkie, Wachtell Send Saks To Canada In $3B Deal

Law360, New York (July 29, 2013, 1:29 PM EDT) -- New York shopping icon Saks Inc. will sell itself to North America's oldest company, private equity-backed Canadian retailer Hudson's Bay Co., in a $2.9 billion deal announced Monday that is as heavy on real estate as it is on retail.

Hudson's Bay, partly owned by U.S. private equity firm NRDC Equities, will pay $16 per share for Saks in the deal, which is structured as a leveraged buyout.

Ontario Teachers Pension Plan, one of Canada's largest pension funds, and West Face Capital Inc., a Toronto investment...
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