An anonymous director of Catalyst Capital Group reports
CATALYST CAPITAL ANNOUNCES offer TO PURCHASE COMMON SHARES OF HUDSON'S BAY company
The Catalyst Capital Group Inc., on behalf of investment funds managed by it, has made an offer to purchase up to 14,836,795 common shares of Hudson's Bay company at a price of $10.11 per common share, payable in cash.
The purchase price is equal to an approximate 7-per-cent premium to the $9.45-per-share price offered by certain insiders of the company in their buyout proposal announced on June 10, 2019, an approximate 59-per-cent premium to the closing price of the common shares on the Toronto Stock Exchange on June 7, 2019 (the last trading day prior to the announcement of the insider buyout proposal) and an approximate 52-per-cent premium to the volume-weighted average trading price of the common shares on the TSX for the 30 trading days prior to the announcement of the insider buyout proposal.
The Catalyst offer is for up to 14,836,795 of the outstanding common shares of the company. The Catalyst offer is open for acceptance until 5 p.m. (Toronto time) on Friday, Aug. 16, 2019, unless the Catalyst offer is extended, varied or withdrawn.