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2h ago

David Thomson’s Company Bids at Least $15 Million for HBC’s 1670 Charter, Urges Open Auction

A new court filing asks the judge to treat the Westons’ $12.5 million deal as the opening bid in a competitive sale.

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

  • DRKT, a holding company tied to David Thomson, says it will pay at least $15 million for the Hudson’s Bay royal charter and donate it to the Archives of Manitoba.
  • Hudson’s Bay previously said it would seek court approval to sell the document for $12.5 million to a Weston family company that plans to give it to the Canadian Museum of History.
  • A DRKT director’s affidavit says the Westons’ price came in far below what Thomson and experts expected the charter to command.
  • The filing asks the court to run an open auction using the Westons’ offer as a floor, with DRKT prepared to bid above its initial $15 million.
  • The charter, issued by King Charles II in 1670, granted Hudson’s Bay sweeping control over trade and territory across large parts of what is now Canada.