Macy's approached by Hudson's Bay for acquisition

The deal could help a struggling Macy's.

Hudson's Bay is in preliminary talks with Macy's about a takeover offer. The two companies are also exploring additional cooperative moves outside of the merger, such as Hudson's taking on some of Macy's real estate. The Canadian brand's portfolio currently includes Saks Fifth Avenue and Lord & Taylor. The deal could help a struggling Macy's, which has faced declining sales and a series of store closures, including 68 locations announced last month. (Business Insider)