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Activist investor wants Hudson’s Bay to sell Saks Fifth Avenue

Business of Fashion 08/01/2017

Jonathan Litt, founder and chief investment officer of Land & Buildings Investment Management, which owns about 4.3 percent of Hudson Bay Company’s shares, has been pushing the company to focus on its Canadian business and consider selling Saks Fifth Avenue as well as taking other steps to unlock shareholder value. Mr. Litt has said he may call for the company to elect new board directors if his concerns are not addressed.

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