Mergers & Acquisitions
February 17, 2016 at 11:28 am
Alibaba disclosed in an SEC filing late Friday that it acquired nearly 33 million shares of Groupon in the fourth quarter. That works out to about a 5.6 percent stake. This makes Alibaba the fourth-largest owner of Groupon. Shares of Groupon soared more than 40 percent in midday trading. That follows a nearly 30 percent…
February 17, 2016 at 10:46 am
DSW Inc. agreed to buy online shoe retailer Ebuys Inc. for an up-front payment of $62.5 million, in a bid to expand its online presence and grow its business abroad. Ebuys, the parent of retail sites ShoeMetro and ApparelSave, is also eligible for additional payments based on its future performance. DSW sells shoes and accessories with 469…
February 16, 2016 at 10:31 am
Kroger keeps growing and growing. Not counting acquisitions, Kroger has notched a stunning 12 straight years of growing sales at its nearly 2,800 stores. But now, thanks to its financial strength, the Cincinnati-based supermarket giant is growing increasingly by taking over rivals too. This week, Kroger was named as a potential suitor for struggling upscale grocer…
February 10, 2016 at 11:51 am
The European Commission said on Wednesday that it had signed off on a $6.3 billion merger of Staples and Office Depot after the companies agreed to sell some of Office Depot’s operations in Europe to ease competition concerns. The approval comes just over two months after the Federal Trade Commission in the United States sued to…
February 8, 2016 at 10:13 am
Honest Company, the consumer products retailer from Jessica Alba that started by selling diapers online, is working with bankers on an IPO, according to a source familiar with the process. Whether the company makes it out into the public market, and how investors value it along the way, will likely be a barometer for what…
February 4, 2016 at 10:31 am
Pat Catan's Craft Centers, the family-run crafts and decor retailer, has been acquired by the Michaels Companies Inc., the largest arts and crafts retailer in North America, for $150 million. Michaels said Lamrite West, the name of the company Pat Catanzarite founded in 1954 to supply craft supplies, window displays and decorations to Cleveland department stores…
February 3, 2016 at 10:04 am
Lowe's is expanding its footprint in Canada with a $2.3 billion acquisition of the home improvement retailer Rona. It's Lowe's second run for the company. Lowe's made a $1.9 billion bid for Rona in 2012, but that deal never went through. Chairman and CEO Robert Niblock said in a written statement Wednesday that the acquisition gives Lowe's…
February 3, 2016 at 9:52 am
CVS Health is about to undertake its biggest expansion in years: the drugstore operator has opened the first of the pharmacies it's taking over from Target. Last summer, the two companies announced that Target would sell its 1,672 pharmacies to CVS for $1.9 billion, a deal that closed in December. Those CVS “stores-within-a-store,” beginning with a…
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…
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.
