Land and Buildings warns of proxy fight with Hudson's Bay
Reuters
Published Sep 06, 2017 03:36PM ET
Land and Buildings warns of proxy fight with Hudson's Bay
(Reuters) - Activist investor Land and Buildings Investment Management threatened a proxy fight with Hudson's Bay Co (TO:HBC) on Wednesday, after the Canadian department store chain reported lackluster second quarter results.
The investor said if the company failed to address its underperformance, then it could call a special meeting to remove directors.
HBC's shares reversed course to trade up 3.02 percent on Wednesday, after falling as much as 6.4 percent, a day after posting a steeper-than-expected loss in the second quarter.
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Written By: Reuters
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