Catalyst challenges Baker’s C$1.9 bln offer for Hudson’s Bay

(Reuters) – Private equity firm Catalyst Capital Group Inc on Wednesday offered to buy Hudson’s Bay Co in deal that valued it at C$2.03 billion ($1.53 billion), challenging an agreed deal with a consortium led by executive chairman Richard Baker.

Catalyst, which owns 17.5% of the Hudson’s Bay, offered C$11 per share, topping Baker’s C$10.30 per share proposal.

Reporting by Uday Sampath in Bengaluru; Editing by Sriraj Kalluvila