HBC in talks to go private

After shuttering Lord & Taylor, selling off Gilt, and working to keep Saks competitive in an increasingly crowded retail field with more luxury e-commerce players popping up, Hudson's Bay Co. is now considering going private. Richard Baker, the executive chairman of Saks, is now leading a bid to take the retail company private. Baker, along with a group of shareholders who own 57 percent of the company, have submitted a proposal to take the company private at 9 dollars and 45 cents a share.