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Loblaw-Shoppers Drug Mart deal approved; Loblaw to close 18 stores
New York -- Loblaw Cos. Ltd.’s acquisition of Shoppers Drug Mart Corp. has been approved by Canada’s Competition Bureau. The $12.4 billion (US$11 billion) deal is expected to close on March 28.
To win approval from the Competition Bureau, Loblaw agreed to sell 18 stores and nine in-store pharmacies.
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Golden Gate buys 9.5% stake in Ann Inc.
San Francisco – Private equity firm Golden Gate Capital Corp. disclosed in a regulatory filing that it has purchased a 9.5% ownership stake in Ann Inc., parent of Ann Taylor.
In a letter to the Ann Inc. board of directors, Golden Gate said it looks forward to working collaboratively with Ann Inc. The company said that it did not plan to seek changes to the retailer’s board or executive team, or to push for a sale