Shares of Saks Fifth Avenue’s owner are soaring by more than 17 percent Tuesday on reports that the company is close to reaching a deal to go private.

The Toronto-based retailer, traded on the Toronto Stock Exchange, has been in a months-long battle with several investor groups over its plan to become a privately held company. But one of the agitators, Catalyst Capital Group, is in talks with the HBC’s executive chairman, Richard Baker, according to reports.

A deal that would allow the company to go private is expected to be reached this week, according to WWD, a fashion trade publication that first reported the talks.

Baker holds a majority stake — or 57 percent — in the department store company and offered in October $10.30 in Canadian dollars—or $7.94— to buy out existing shareholders.

Catalyst, which has a 17.5 percent stake in HBC, countered with an $11 Canadian dollars share bid or $8.47.

Baker’s group is reportedly considering raising its bid to $C11 a share.

HBC and Catalyst could not immediately be reached for comment.