Majority of Hudson’s Bay shareholders back $500 million Rhone investment

Signage can be displayed inside a Hudson's Bay store in downtown Vancouver, British Columbia.

Ben Nelms | Bloomberg | Getty Images

Signage can be displayed inside a Hudson’s Bay store in downtown Vancouver, British Columbia.

Canadian retailer Hudson’s Bay Co said almost two-thirds of its shareholders supported a $500 million investment by Rhone Capital, which was opposed by activist fund Land as well as Buildings LLC earlier This particular month.

The Ontario Securities Commission (OSC) on Friday adjourned a hearing of the fund’s appeal against a conditional approval for the investment.

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