Majority of Hudson’s Bay shareholders back $500 million Rhone investment

Ben Nelms | Bloomberg | Getty Images

Signage is displayed inside a Hudson’s Bay store in downtown Vancouver, British Columbia.

Canadian retailer Hudson’s Bay Co said almost two-thirds of its shareholders supported a $500 million investment by Rhone Capital, which was opposed by activist fund Land and Buildings LLC earlier this month.

The Ontario Securities Commission (OSC) on Friday adjourned a hearing of the fund’s appeal against a conditional approval for the investment.