Hudson's Bay Co. chairman considers raising offer for retailer

Hudson's Bay Co. chairman Richard Baker and his partners have approached the company's minority shareholders about raising the offer to take the company private. Baker has suggested the idea of raising the offer to 11 dollars a share up from 10 dollars and 30 cents a share. Collectively, Baker and his group own 57 percent of Hudson's Bay Co., but they need a majority of the minority stakeholders to go through with this deal.