Hudson’s Bay Joins Stock Leaders in Last-minute Surge

Shares of Hudson’s Bay Co. shot up 20.9 percent on New Year’s Eve as the on-again, off-again deal to take the company private seemed to be on again. It was a late-year boost that helped the Saks Fifth Avenue parent run with the companies leading the fashion pack in the market — at least for a time. Shares of Hudson’s Bay, which trades on the Toronto Stock Exchange in Canadian dollars, ended the year up 31.7 percent to $9.88.  WWD reported late Monday that executive chairman Richard Baker and a group of shareholders were close to sealing a deal to take the parent of Saks Fifth Avenue private for more than the $10.30 (Canadian) a share minority shareholders initially balked at. Baker and his partners hold 57 percent of Hudson’s Bay’s stock and want to buy out other investors using proceeds from the 1 billion euro sale of the company’s European operations last year. But that is more of a last-minute sprint than a sustainable pace for the department store operator, which has been struggling like the other traditional retailers that have been lagging far behind the market. The other fashion companies from around the world that topped the Dow Jones Industrial Average’s 22.2

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