Latest news with #DavidThomson
9 hours ago
- Business
Billionaire David Thomson wants to buy Hudson's Bay charter, donate it to Manitoba Archives
New court filings show a holding company owned by David Thomson, of Thomson Reuters, wants to buy the royal charter that formed the Hudson's Bay retailer for at least $15 million and donate it to the Archives of Manitoba. The department store previously announced it would seek court approval next month to sell the charter for $12.5 million to a holding company belonging to the Weston family, which intends to donate it to the Canadian Museum of History in Ottawa. An affidavit from a director at Thomson's holding company DRKT says he was taken aback by the Westons' purchase price because it is significantly lower than what David Thomson and experts expected the charter to fetch. Rather than move forward with the sale to the Westons, the affidavit suggests the family's offer should serve as a minimum bid in an open auction. Enlarge image (new window) The royal charter that launched Hudson's Bay Company, issued by King Charles II in 1670, is shown in an undated handout image. Photo: The Canadian Press / Hudson's Bay Company If a court agrees to that approach, the affidavit says Thomson is willing to place bids beyond his initial $15 million offer. The charter was issued by King Charles II in 1670 and gave the Bay rights to a vast swath of land spanning most of Canada and extraordinary power over trade and Indigenous relations for decades. The document became available after the Bay filed for creditor protection (new window) in March under the weight of tremendous debt. To recover whatever cash it could for creditors, it liquidated all of its stores and hatched a plan to put its most prized possessions — 1,700 art pieces and 2,700 artifacts — on the auction block. Before an auction could begin, the Westons swooped in, pitching the Bay on a $12.5 million purchase (new window) of the charter and immediate donation of the document. The Archives of Manitoba, located in downtown Winnipeg, is mandated under provincial legislation to preserve the archival records of the Manitoba government and its agencies, the courts and the legislature. Its holdings are also a rich resource for the history of the Hudson's Bay Company, according to the website of the provincial archives (new window) . Enlarge image (new window) The Archives of Manitoba building is in downtown Winnipeg. Photo: CBC / Darren Bernhardt With files from CBC
CBC
10 hours ago
- Business
- CBC
Billionaire David Thomson wants to buy Hudson's Bay charter, donate it to Manitoba Archives
Social Sharing New court filings show a holding company owned by David Thomson, of Thomson Reuters, wants to buy the royal charter that formed the Hudson's Bay retailer for at least $15 million and donate it to the Archives of Manitoba. The department store previously announced it would seek court approval next month to sell the charter for $12.5 million to a holding company belonging to the Weston family, which intends to donate it to the Canadian Museum of History in Ottawa. An affidavit from a director at Thomson's holding company DRKT says he was taken aback by the Westons' purchase price because it is significantly lower than what David Thomson and experts expected the charter to fetch. Rather than move forward with the sale to the Westons, the affidavit suggests the family's offer should serve as a minimum bid in an open auction. If a court agrees to that approach, the affidavit says Thomson is willing to place bids beyond his initial $15 million offer. The charter was issued by King Charles II in 1670 and gave the Bay rights to a vast swath of land spanning most of Canada and extraordinary power over trade and Indigenous relations for decades. The document became available after the Bay filed for creditor protection in March under the weight of tremendous debt. To recover whatever cash it could for creditors, it liquidated all of its stores and hatched a plan to put its most prized possessions — 1,700 art pieces and 2,700 artifacts — on the auction block. Before an auction could begin, the Westons swooped in, pitching the Bay on a $12.5 million purchase of the charter and immediate donation of the document. The Archives of Manitoba, located in downtown Winnipeg, is mandated under provincial legislation to preserve the archival records of the Manitoba government and its agencies, the courts and the legislature. Its holdings are also "a rich resource" for the history of the Hudson's Bay Company, according to the website of the provincial archives.
CTV News
10 hours ago
- Business
- CTV News
Billionaire David Thomson interested in buying Hudson's Bay charter, donating it
The 1670 royal charter signed by King Charles II establishing Hudson's Bay, is shown on display at the Manitoba Museum where it was loaned to be displayed alongside its permanent collection of Hudson's Bay artifacts, in this 2020 handout photo. THE CANADIAN PRESS/Handout - Manitoba Museum (Mandatory Credit) TORONTO — New court filings show a holding company owned by David Thomson, of Thomson Reuters, wants to buy the royal charter that formed the Hudson's Bay retailer for at least $15 million and donate it to the Archives of Manitoba. The department store previously announced it would seek court approval next month to sell the charter for $12.5 million to a holding company belonging to the Weston family, which intends to donate it to the Canadian Museum of History. An affidavit from a director at Thomson's holding company DRKT says he was taken aback by the Westons' purchase price because it is significantly lower than what David Thomson and experts expected the charter to fetch. Rather than move forward with the sale to the Westons, the affidavit suggests the family's offer should serve as a minimum bid in an open auction. If a court agrees to that approach, the affidavit says Thomson is willing to place bids beyond his initial $15 million offer. The charter was issued by King Charles II in 1670 and gave the Bay rights to a vast swath of land spanning most of Canada and extraordinary power over trade and Indigenous relations for decades. This report by The Canadian Press was first published Aug. 21, 2025. Tara Deschamps, The Canadian Press
Toronto Sun
11 hours ago
- Business
- Toronto Sun
Billionaire David Thomson interested in buying Hudson's Bay charter, donating it
Published Aug 21, 2025 • 1 minute read The original charter of the Hudson's Bay Company is seen at the National Research Council in Ottawa in 1997. Photo by Pat McGrath / Ottawa Citizen / Postmedia Network New court filings show a holding company owned by David Thomson, of Thomson Reuters, wants to buy the royal charter that formed the Hudson's Bay retailer for at least $15 million and donate it to the Archives of Manitoba. This advertisement has not loaded yet, but your article continues below. THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. SUBSCRIBE TO UNLOCK MORE ARTICLES Subscribe now to read the latest news in your city and across Canada. Unlimited online access to articles from across Canada with one account. Get exclusive access to the Toronto Sun ePaper, an electronic replica of the print edition that you can share, download and comment on. Enjoy insights and behind-the-scenes analysis from our award-winning journalists. Support local journalists and the next generation of journalists. Daily puzzles including the New York Times Crossword. REGISTER / SIGN IN TO UNLOCK MORE ARTICLES Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account. Share your thoughts and join the conversation in the comments. Enjoy additional articles per month. Get email updates from your favourite authors. THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK. Create an account or sign in to continue with your reading experience. Access articles from across Canada with one account Share your thoughts and join the conversation in the comments Enjoy additional articles per month Get email updates from your favourite authors Don't have an account? Create Account The department store previously announced it would seek court approval next month to sell the charter for $12.5 million to a holding company belonging to the Weston family, which intends to donate it to the Canadian Museum of History. An affidavit from a director at Thomson's holding company DRKT says he was taken aback by the Westons' purchase price because it is significantly lower than what David Thomson and experts expected the charter to fetch. Rather than move forward with the sale to the Westons, the affidavit suggests the family's offer should serve as a minimum bid in an open auction. If a court agrees to that approach, the affidavit says Thomson is willing to place bids beyond his initial $15 million offer. The charter was issued by King Charles II in 1670 and gave the Bay rights to a vast swath of land spanning most of Canada and extraordinary power over trade and Indigenous relations for decades. Columnists Columnists World Canada World
Yahoo
11 hours ago
- Business
- Yahoo
CP NewsAlert: Billionaire David Thomson interested in buying Hudson's Bay charter
TORONTO — New court filings show a holding company owned by David Thomson wants to buy the royal charter that formed the Hudson's Bay retailer for at least $15 million and donate it to the Archives of Manitoba. The department store previously announced it would seek court approval next month to sell the charter for $12.5 million to a holding company belonging to the Weston family, which intends to donate it to the Canadian Museum of History. More coming. Tara Deschamps, The Canadian Press Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
