Hudson Bay Eyes Potential Acquisition Of Dillard's

According to The Deal, Dillard's, Inc. (NYSE: DDS) is being eyed by Hudson's Bay Chief Executive Officer Richard Baker as a potential acquisition target.

According to The Deal's sources, Baker is interested in acquiring Dillard's because of its valuable real estate holdings and it is one of the “better run” department store chains.

An acquisition of Dillard's would also add to Toronto-based Hudson's Bay presence in the U.S. by adding nearly 300 locations in the Midwest, Southeast and Southwest. The company previously acquired Saks Fifth Avenue for $2.4 billion in 2013.

Shares of Dillard's were up 2.8 percent at $120 in the premarket.