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Activist Investor Says $1.3 Billion Take-Private Offer Undervalues HBC Real Estate

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A day after Hudson’s Bay Co. said it closed on the sale of its European real estate and retail joint ventures, investor Paradise Developments fired off a letter to the company opposing HBC chairman’s proposed takeover offer. Paradise sent the letter to HBC’s Special Committee, which is reviewing the non-binding proposal from chairman Richard Baker…

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