Hudson’s Bay Co. (Toronto) is reportedly exploring a potential joint venture with Signa Holding (Vienna).
The news follows a push by one of the company’s activist investors to turn business around and improve shareholders’ returns. To that end, the company has signed a non-binding letter of intent with respect to exploring this potential deal, according to Retail Dive. Any potential deal is still contingent on many factors and subject to board approval.
Last year, Signa offered to buy the company’s German unit, a $3.5 billion proposition that the company denied, stating the bid was too low.