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Mergers & Acquisitions
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Walmart is retreating from Europe, merging its U.K. supermarket business Asda with bigger rival Sainsbury's. In return, Walmart will receive ยฃ2.97 billion ($4.1 billion) in cash and a 42 percent stake in the combined business, the companies said in a statement on Monday. The deal values Asda at ยฃ7.3 billion ($10 billion), and creates aโฆ
ESL Investments, the hedge fund led by Sears Holdings CEO Eddie Lampert, is proposing to buy the Kenmore brand, Sears' Home Improvement business, its PartsDirect division and some of the chain's real estate. In a letter to Searsโ board on Friday, ESL said: "We continue to see value in Sears and its underlying assets, and believe stronglyโฆ
Walgreens said Wednesday that it had completed its takeover of 1,932 new stores that it agreed last year to buy from Rite Aid Corp. โOur growth strategy of increasing and consolidating volume, differentiating ourselves through value and quality of service, and controlling costs is bearing fruit across our businesses,โ Walgreens Chief Executive Officer Stefano Pessina saidโฆ
Athletic retailer The Finish Line said yesterday that it has agreed to be purchased by U.K.-based retailer JD Sports Fashion for $558 million. JD is the leading European retailer of sports, fashion and outdoor brands. The merger agreement is subject to Finish Line and JD shareholder approval, the receipt of all required regulatory approvals, andโฆ
According to a new report, two of the biggest names in food retailing, Target and Kroger, are considering a merger that would bolster their position against the growing threat of Amazon.com. Fast Company reported Friday morning that Target and Kroger started talking "last summer" about "a partnership" that would help Target's grocery business and Kroger's e-commerce capabilities. Theโฆ
Blue Pool Capital, a financial firm that principally invests the wealth of Alibaba founders Jack Ma and Joe Tsai, has invested $20 million into the womenโs clothing rental business Rent the Runway, according to a report in Recode last week. Reportedly, the fundingโฆ
Nordstrom announced yesterday that it's acquiring two leading retail technology companies: BevyUp, a digital selling tool, and MessageYes, a platform rooted in conversational commerce. More specifically, BevyUp is a platform that allows sales associates to communicate with each other on the back end, and encourages shoppers to share information with each other and browse itemsโฆ
Amazon.com announced yesterday the acquisition of smart home company, Ring. The $1 billion-plus price tag represents Amazon's second largest ever acquisition (the online giant paid $13.6 billion for Whole Foods). Recode reports Ring is now being bought for somewhere between $1.2 billion and $1.8 billion. The startup recently authorized a fundraising round that would haveโฆ
Supermarket operator Albertsons agreed to buy the remnants of the Rite Aid drug chain on Tuesday, the latest deal to shake up a grocery industry already experiencing major upheaval. The combined company would have about 4,900 locations in 38 states and the District of Columbia, the companies said. Albertsons would rebrand its in-store pharmacies under theโฆ
Online retailer Boxed.com has spurned an acquisition bid from The Kroger Co. and is instead sending out feelers to Amazon.com, according to news reports. Krogerโs bid was believed to be in the neighborhood of $300 million to $400 million. Industry observers said the Cincinnati-based chain was interested in Boxed to help it boost delivery capabilities, attract moreโฆ