kanaka
Joined: 04 Jul 2003
Posts: 916
Location: roaming...
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Posted: Mon Aug 16, 2004 11:46 pm Post subject: Good bye Zellers (and The Bay), hello Target
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U.S. giant seeks to buy The Bay
From Friday's Globe and Mail
U.S.-based Target Corp. is in advanced talks to buy part or all of Hudson's Bay Co., the 334-year-old Canadian institution that owns The Bay and Zellers department stores, sources say.
The sale of HBC would leave Canada's oldest company in foreign hands, relegating to the history books a firm that opened up the country after receiving a monopoly to trade on all the rivers flowing into Hudson Bay, dating back to 1670.
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Analysts disagree on HBC deal with Target
Globe and Mail, Monday, August 16, 2004
Analysts disagreed yesterday on whether it makes more sense for Hudson's Bay Co. to sell its best Zellers discount-store locations to Minnesota-based Target Corp. or accept a takeover by the U.S. chain.
The Globe and Mail reported on Friday that HBC and Target could reach a deal involving stores or shares within two weeks.
Research Capital Corp.'s David Brodie said the awkward part of any sale would be dealing with assets Target would not keep.
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kanaka
Joined: 04 Jul 2003
Posts: 916
Location: roaming...
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Posted: Mon Aug 16, 2004 11:49 pm Post subject:
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A week ago they were dismissing the rumours as nonsense, today they are talking about it like it's a done deal. Another giant falls as we move one step closer to Walmart being the only place to shop, work and invest.
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