Yesterday, I wrote about Hudson Bay buying Saks for 16 dollar a share. Now, do you think the price is right? Saks still have 40-day window to seek out another bid. Any chance it could get higher bidder? Well, I think it could. If you apply enterprise value to EBITDA multiple of 7 to projected EBITDA of Saks in 2017 and discounted that with 5% discount rate, you will get the price of around 18 dollar a share. Now, is that the fair price of Saks? Who knows. But could Saks get a higher bidder? Sure, but it would be hard to anyone to try to top Hudson Bay in my opinion.