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Hudson's Bay Investors Urge Debt Reduction

TORONTO, Canada — As Hudson’s Bay Co steps up the pace of extracting value from its $ 5 billion property portfolio, the department store chain’s shareholders want it to reduce debt, return cash to them and not invest the proceeds in traditional retail operations.

Hudson’s Bay is not new to selling real estate, but its actions are under greater scrutiny amid rising tensions between the company and activist hedge fund Land & Buildings, which says it holds about…
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