Canadian department store chain Hudson’s Bay has made a takeover approach for US department store chain Macy’s, it has been reported.
Sources told The Wall Street Journal that talks between the companies are at an early stage and also include other ways they could co-operate, such as a deal for Macy’s real estate.
The newspaper reported Hudson’s Bay could also bring in a partner.
Both Hudson’s Bay Company and Macy’s declined to comment.
Hudson’s Bay Company was incorporated in 1670, and is the oldest company in North America. Today it operates 10 retail fascias throughout Canada, the US, Germany and Belgium, including Saks Fifth Avenue, Galeria Kaufhof, Gilt, Hudson’s Bay, Home Outfitters and Lord & Taylor. Read more about the department store chain here.