Hudson’s Bay to Buy German Department Store Chain

Hudson’s Bay Co. has a $3.9-billion (Canadian) deal — including pension liabilities — to buy German department store chain Galeria Kaufhof, industry sources say. Toronto-based Hudson’s Bay, which has been in talks for weeks with Metro AG, the parent of Kaufhof, is expected to announce the purchase as early as Monday. Hudson’s Bay was drawn to the German company both for its retailing name in that country and for its prized real estate.