Hudson’s Bay Co. nears deal for Gilt Groupe: WSJ

The Hudson’s Bay Co. is near a deal to buy Gilt Groupe Inc. for about $250 million, according to the Wall Street Journal. The sale price is a fraction of the $1.1 billion value that venture capitalists placed on Gilt in 2011, the story said. Gilt, a pioneer of flash sales, has raised about $280 million in capital since 2007, the WSJ said.