Hudson's Bay makes indicative offer for Metro's Kaufhof

Canadian retailer Hudson's Bay on Tuesday made an indicative offer for Metro's department store chain Kaufhof, two people familiar with the matter told Reuters.

Kaufhof

The value of the non-binding offer is similar to a separate bid made by Austrian investor Rene Benko, they said, adding talks with Germany's Metro were ongoing.

Sources had told Reuters last month that Benko, who owns rival department store chain Karstadt, had offered 2.9 billion euros ($3.18 billion) for Kaufhof.

Metro declined to comment on the matter, while Hudson's Bay was not immediately available for comment.

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