Mergers & Acquisitions

Staples, Office Depot Extend Merger Agreement
January 21, 2016 at 10:01 am

Office supplies retailer Staples Inc. delayed its planned merger with rival Office Depot Inc. on Wednesday as federal regulators continue their effort to block the deal. The boards of both companies said they will extend their merger agreement, which was set to expire Feb. 4, more than three months to May 16. The extension will allow…

Genesco Sells Lids Team Sports to BSN Sports
January 20, 2016 at 10:57 am

Genesco Inc. President, Chairman and CEO Robert Dennis continues to up his efforts to turn around the company’s once-struggling Lids Sports Group. Genesco announced Tuesday that it has sold Lids Team Sports, part of Lids Sports Group, to sporting-goods marketer and distributor BSN Sports.

American Apparel Rejects $300M Takeover Offer
January 15, 2016 at 10:51 am

The board of American Apparel Inc. has rejected a $300 million takeover bid from investors who support the return of ousted Chief Executive Dov Charney, according to a person familiar with the matter. The rejection of an offer from Hagan Capital Group and Silver Creek Capital Partners is yet another dramatic turn for the Los Angeles…

Saks Owner on Deal for Gilt Groupe
January 12, 2016 at 10:15 am

Jerry Storch, the chief executive of Hudson’s Bay, comments on the company's deal to acquire digital retailer Gilt Groupe for a quarter of its private valuation.

Walgreens to Sell Health Clinics to Advocate
January 11, 2016 at 10:02 am

Walgreens has agreed to sell its Chicago-area health clinics to Downers Grove, Ill.-based Advocate Health Care as part of the drugstore chain's massive effort to streamline operations and cut costs. The two companies said Monday that the deal includes all 56 of Walgreens’ in-store clinics in the region, which will come under Advocate's ownership in May. Terms…

Howard Levine to Step Down as Family Dollar CEO
January 8, 2016 at 9:56 am

Howard Levine is stepping down as chief executive officer of Matthews, N.C.-based Family Dollar on Jan. 15, the company announced Friday. Levine’s departure follows Virginia-based Dollar Tree’s acquisition of Family Dollar last summer. At the time, the company had said Levine would remain with the company for two years to assist with the integration, reporting to…

Hudson's Bay to Acquire Gilt for $250M
January 7, 2016 at 10:05 am

Hudson’s Bay Co. is preparing to pay $250 million to buy Gilt Groupe Holdings, Inc., a membership-based online retailer that caters to shoppers in the millennial generation. The Toronto-based retailer says Gilt has more than 9 million members, and the acquisition is expected to add about $500 million to HBC’s overall revenue this year. About half of…

Mills Fleet Farm to Be Sold to Investment Giant KKR
January 5, 2016 at 11:13 am

Family-owned Mills Fleet Farm has agreed to sell to New York-based KKR, one of the country’s largest investment concerns that has holdings in various industries totaling about $100 billion. Terms of the deal, expected to be announced Tuesday, weren't disclosed. However, after the Mills family put the privately held chain of 35 stores up for sale…

Pep Boys Agrees to $947 Million Bridgestone Bid, Shuns Icahn
December 28, 2015 at 3:55 pm

Pep Boys agreed to a $947 million takeover offer from Bridgestone Corp., shunning a competing bid from billionaire investor Carl Icahn that had promised a higher price. Pep Boys said Thursday in a statement that its board no longer considers Icahn’s most recent offer -- which included a vow to beat any bid up to $1.01…

FTC Rejects Staples’ Revised Offer on Office Depot
December 22, 2015 at 10:40 am

Staples offered to give up $1.25 billion in commercial contracts to acquire Office Depot, but federal regulators have rejected it, the company said Monday. The Federal Trade Commission, which is suing to stop the $6.3 billion merger, declined comment on Staples’ claim. Staples said it will continue its court fight to acquire its competitor headquartered…