Canadian e-commerce, Hudson’s Bay Co. wants to acquire Macy’s, the American brand

The sales over at the Canadian e-commerce company, Hudson’s Bay Co., might be dwindling but that has not stopped it from dreaming big—dreams that take it across the border to the United States of America.

Hudson’s Bay is looking to acquire the Macy’s but the company has neither confirmed nor denied these rumors. An unnamed source has however said that both companies are in the beginning stages of negotiations.

According to the Wall Street Journal, Hudson’s Bay might raise its equity and debt against its real estate portfolio which is worth like US$14B.

The shares of both companies went up after the rumors began.

Looking at market capitalization, the American brand is much larger than Canadian e-commerce Hudson’s Bay, with market caps of roughly $10.6 billion US and $1.88B Cdn, respectively.

The American brand has unfortunately been struggling in light of stiff competition. E-commerce is also to blame because a lot more of the customers perfer shopping digitally.

Evidence of struggling

The company has plans to close almost 70 stores and over 600 outlets meaning that a lot of persons are going to be out off a job. 

It is sad that Macy’s has found itself in this position but honestly, Hudson’s Bay would not know how to run the company since they themselves are struggling in e-commerce.