Hudson’s Bay Company and Saks Incorporated have entered into a definitive merger agreement whereby HBC will acquire the upscale retailer for $16.00 per share in an all-cash transaction valued at approximately US$2.9 billion, including debt. The transaction has been approved by each company’s board of directors and is expected to close before the end of the calendar year, subject to approval by Saks shareholders, regulatory approvals and other customary closing conditions. HBC also owns Lord &#0...