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Thursday, January 13, 2011

Hudson's Bay Co in spotlight with Target deal, (NYSE: TGT), (NYSE: WMT)

No company can say "been there, done that" better than the 340-year-old Hudson's Bay Co, which predates Canada itself -- and the United States too. From fur trading to oil drilling, Toronto-based HBC has dabbled in more than a few business ventures, possessed more land than most countries, and been witness to major political events, including the establishment of Canada as a nation from a scattering of colonies. The C$1.83 billion ($1.84 billion) deal between U.S.-based Target Corp (TGT.N) and HBC's Zellers discount chain puts the focus on a firm that has had to contend with intensifying competition in recent years, especially from the United States, with the arrival of Wal-Mart (WMT.N) in 1994. [ID:nN13263162]