 On 1 November 2017, HBC received an unsolicited offer from Austrian firm Signa Holding for Kaufhof and other real estate.An unnamed source told CNBC that the value of the offer was approximately 3 billion euros.This information on the offer was also reiterated in a press release by activist shareholder Land & Buildings Investment Management, which urged HBC to accept the offer; the company replied that the offer was incomplete and did not provide indication of financing for the deal.