Mergers & Acquisitions

Carl Icahn Raises Offer for Pep Boys, Tops Bridgestone's Offer
December 22, 2015 at 10:25 am

Pep Boys, a U.S. auto parts retailer, said billionaire investor Carl Icahn raised his offer for the company, topping Bridgestone Corp's bid by $1.00 a share, to value the company at about $900 million. Pep Boy's shares rose as much as 6.6 percent to $16.80, touching a more than eight-year high. Pep Boys said on Monday its…

Avon to Sell 80% of North America Unit to Cerberus Capital
December 18, 2015 at 11:16 am

Avon Products said on Thursday it had agreed to sell 80.1 percent of its North America business to private equity firm Cerberus Capital Management for $170 million. New York-based Cerberus will also invest $435 million for a 16.6 percent stake in the direct-seller of cosmetics in a deal that values Avon at about $2.5 billion.…

Whole Foods Dismisses Rumor it Plans to Go Private
December 17, 2015 at 11:09 am

Whole Foods Market Inc. said don’t listen to rumors that the company is looking for a buyer. “Recent rumor and speculation regarding the possibility of Whole Foods Market going private are exactly that – just rumor and speculation,” Spokesperson Michael Silverman told MarketWatch. Co-founder and co-chief executive officer John Mackey also responded to the chatter…

Report: Gilt to Be Acquired by Saks Fifth Avenue's Parent
December 15, 2015 at 10:27 am

Fashion e-commerce site Gilt, once valued at $1 billion, is in advanced talks to be acquired by Saks Fifth Avenue’s parent Hudson’s Bay Company for $250 million, according to The Wall Street Journal. Gilt, which operates limited-time sales of designer clothes, accessories and home goods, has been struggling to maintain its once red-hot growth. Earlier…

Destination Maternity Rebuffs French Offer
December 15, 2015 at 10:16 am

Destination Maternity Corp. has rejected a French suitor, according to a Securities and Exchange Commission filing Monday. Shares of Destination Maternity, which makes maternity wear, shot up 17 percent at the start of trading Monday on the Nasdaq Stock Exchange, but soon settled down to about the same level as its Friday close of $9.…

lululemon Founder Says He Considered Acquiring Under Armour
December 15, 2015 at 10:11 am

lululemon athletica founder Chip Wilson, who split from the company over strategy disagreements, said he once considered acquiring Under Armour, a deal that would have combined two of the biggest brands in athletic apparel. “Three years ago, when I was chairman and lululemon was worth twice as much as Under Armour, I personally was thinking…

Icahn Offer for Pep Boys Matched by Bridgestone
December 14, 2015 at 9:56 am

Bridgestone Corp. increased its offer for auto parts retailer Pep Boys, the companies announced late Friday afternoon, matching the price offered by activist investor Carl Icahn. Pep Boys had agreed to sell itself to Bridgestone for $15 a share in October, but those plans were thrown into turmoil earlier, thanks to Icahn. The investor’s Icahn…

Newell Rubbermaid Buys Rival Jarden for $13B
December 14, 2015 at 9:52 am

Newell Rubbermaid said Monday that it had reached a deal to acquire Jarden Corp., maker of Crock-Pots, Sunbeam, Rawlings, Coleman and other consumer goods, for $15.4 billion, or $13.2 billion when excluding convertible debt. The Rubbermaid brand manufacturer, which also makes Sharpie, Paper Mate and Irwin products, is buying Jarden for a combination of cash…

As Office Depot Merger Falters, Staples’ Next Step Won’t Be Easy
December 9, 2015 at 10:59 am

Staples Inc. needs a Plan B as federal regulators move to block its merger with rival Office Depot Inc., analysts said Tuesday. But whatever that plan turns out to be, it won’t be as simple as pressing the big, red “Easy” button that once dominated Staples’ advertising. Staples’ next step — assuming its challenge to…

Carl Icahn Makes Counterbid for Pep Boys
December 8, 2015 at 10:33 am

Carl C. Icahn, unhappy with Pep Boys’ decision to sell itself to Bridgestone, the tire company, is fighting back with his own takeover offer. Mr. Icahn, the billionaire investor, disclosed on Monday that he had offered to buy Pep Boys, the car parts retailer, for $15.50 a share in cash, topping the $15 a share…