Hudson's Bay Company gets offer for Galeria Kaufhof

SIGNA Holding has made an unsolicited offer to buy Hudson's Bay Company's German department store chain, Galeria Kaufhof, as well as other real estate assets. SIGNA is a competitor to HBC in Europe and management has not demonstrated any interest in selling its German business. “As we’ve previously stated, our European business is an important element of the Company’s strategy,” the company stated in a release.