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4h ago

David Thomson Files Higher Bid for HBC Royal Charter, Urges Auction

A new affidavit asks the court to treat the Westons’ $12.5 million offer as a reserve bid ahead of a Sept. 9 hearing.

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)
David Thomson, seen in a 2024 file photo with Winnipeg Jets owner Mark Chipman, says he wants to buy the Hudson's Bay Company's charter and donate it to Manitoba's provincial archives.

Overview

  • Thomson’s holding company proposes paying at least $15 million for the 1670 charter with a pledge to donate it to the Archives of Manitoba.
  • The offer challenges Hudson’s Bay’s plan to sell the document to the Weston family’s Wittington Investments for $12.5 million for donation to the Canadian Museum of History.
  • The filing argues the $12.5 million price is significantly low and requests an open auction with the Westons’ offer serving as a floor.
  • Thomson indicates he is prepared to bid above $15 million and commits at least $2 million to sharing the charter, consultation with Indigenous groups, and public access.
  • A Sept. 9 court hearing will consider the sale application, and Manitoba Premier Wab Kinew has signaled support for placing the charter in the provincial archives.