Finance & Capital Management

York, Pa. -- The Bon-Ton Stores announced it has signed a new, multi-year private-label credit card program agreement with Alliance Data, a provider of loyalty and marketing solutions.

New York City -- CVS Caremark executives shared plans to address the challenges facing health care during the company's annual Analyst Day in New York City. The company also said Tuesday it also expects to buy back the $3 billion left in its share repurchase program.

New York City -- Talbots Inc. has rejected a buyout offer from private-equity firm Sycamore Partners its biggest shareholder, saying the bid “substantially” undervalues the company. The bid was valued at approximately at $205.2 million.

Sycamore is Talbots biggest shareholder, with a 9.9% in the company. In a statement, Talbots called the proposal inadequate and said it will explore its strategic options to help maximize value for its shareholders. The retailer did not set a deadline for when its review will end.

MATTHEWS, N.C. — Family Dollar Stores on Monday named Paul White to the position of EVP and chief merchandising officer. White will report to Mike Bloom, president and COO.

“Through Paul’s leadership and strategic vision, Family Dollar has created a compelling mix of discretionary merchandise, which has led to a more fun place to shop for our customers,” Bloom said. “Paul’s promotion will help us continue to broaden our appeal and deliver greater value to our customers.”

GREENVILLE, S.C. — BI-LO and Winn-Dixie Stores on Monday announced that the companies will merge to create an organization of approximately 690 grocery stores and 63,000 employees in eight states throughout the Southeastern United States.

Under the terms of the definitive agreement, BI-LO will acquire all of the outstanding shares of Winn-Dixie stock in the merger. Winn-Dixie shareholders will receive $9.50 in cash per share of Winn-Dixie common stock, representing a premium of approximately 75% over the closing price of Winn-Dixie common stock on Dec. 16.

NEW YORK — Affinity Solutions, a provider of transaction-based marketing programs for financial institutions and retailers in the United States, announced that John Brennan has joined as VP business development.

Greenville, S.C. -- Grocer Bi-Lo LLC said Monday that it has acquired southern supermarket chain Winn-Dixie, in a $560 million transaction that will take Winn-Dixie Stores Inc. private and create the largest grocery operator in the South.

The merger will combine Winn-Dixie’s 480 supermarkets in five southern states (Florida, Alabama, Louisiana, Georgia and Mississippi) with Bi-Lo’s 207 stores in the Carolinas, Georgia and Tennessee to create a company with 690 stores and 63,000 workers in eight states.

Springfield, Ill. -- Illinois Gov. Pat Quinn signed legislation Friday that grants hundreds of millions of dollars in tax breaks and incentives aimed at keeping Sears Holdings Corp., along with CME Group Inc., which operates the Chicago Mercantile Exchange, headquartered in Illinois.

Lawmakers approved the business tax breaks earlier this month, but Quinn had not yet signed the bill. Both companies had openly threatened to leave the state without some kind of significant aid package.

There’s nothing wrong with most of the consumer electronics items that get returned to stores, according to new research by Accenture. A study by the firm found that defects only account for about 5% of the returns and the rest of the time buyers’ remorse (27%) or a perceived flaw (68%) results in the item being returned.

ATLANTA — Coca-Cola on Thursday announced that Geoffrey Kelly will be retiring from his post as SVP and general counsel.

Kelly, who joined the company in 1970, will retire in February 2012. He has served in the role of SVP and general counsel since 2005.

Succeeding Kelly is Bernhard Goepelt, who will take on the role of SVP general counsel and chief legal counsel, effective immediately. Kelly will remain SVP during a transition period, Coca-Cola noted.