Hudson’s Bay Co. has chosen the new owners of the royal charter that created the company more than 350 years ago.
The Thomson and Weston families emerged with an uncontested $18 million bid for the 1670 document, through their holding companies, and will donate it to a group of four museums.
The purchase is subject to court approval as part of the Hudson’s Bay insolvency proceedings.
The announcement confirms reporting from The Canadian Press, which previously revealed no one came forward to bid against the Thomsons and Westons in the Dec. 3 sale hosted by the shuttered retailer and its financial adviser Reflect Advisors….