Finance & Capital Management

Zug, Switzerland -- Swiss drugstore chain Alliance Boots said Monday it has acquired a 12% stake in Chinese pharmaceutical wholesaler Nanjing Pharmaceutical Co. for $88.5 million.

The deal follows Walgreen Co.’s $7 billion investment in Alliance Boots in a move to expand into China.

Alliance Boots runs the largest drugstore chain in the United Kingdom.

Walgreen’s initial plan is to acquire about 45% of Alliance Boots with an option to buy the rest of the company in three years.

Bentonville, Ark. -- Despite its interest in making a New York City debut in a new Brooklyn neighborhood shopping center, Wal-Mart Stores Inc. said Friday it was unable to agree to economic terms for a new store. Instead, developer Related Cos. struck a deal with ShopRite to open a new grocery store at the 630,000-sq.-ft. Gateway II shopping center planned for Brooklyn.

Former VF Outdoor CFO Dan Templin has joined Eddie Bauer as COO and CFO.

With the addition of Templin, current Eddie Bauer CFO Marv Toland was named to the newly created role of SVP of direct with responsibility for the brand’s e-commerce and catalog businesses.

Eddie Bauer CEO Mike Egeck characterized Templin as a seasoned outdoor industry executive whose responsibilities at VF Outdoor, with leading brands such as The North Face, Vans, JanSport and Timberland, will benefit Eddie Bauer.

Dallas -- Alliance Data Systems Corp. said Monday that it has acquired the receivables associated with The Talbots Inc.’s existing private-label credit card file, and will acquire the credit card accounts, pending regulatory approval. The receivables portfolio totals about $145 million.

Alliance Data also said that its Retail Services business will provide private-label credit card services for Talbots, as well.

Morrisville, N.C. -- Lowe’s Cos. Inc. said Monday it has withdrawn its bid to purchase Canadian home-improvement retailer Rona Inc.

The $1.86 billion unsolicited acquisition proposal had earlier been rejected by Quebec-based Rona, which said the offer was not the best deal for its shareholders. The proposal generated discord among Rona’s dealer companies, many of whom threatened to sever their ties with Rona should Lowe’s succeed in its acquisition attempt.

Foothill Ranch, Colo. -- The Clinton Group Inc., a 7% shareholder in Wet Seal, made a formal request on Monday to replace most of the retailer’s current board of directors.

Delray Beach, Fla. -- Starboard Value disclosed on Monday that it has taken a 13.3% stake in Office Depot. According to a report by Reuters, the activist hedge fund now becomes the office supply retailer’s biggest shareholder.

In a letter to Office Depot CEO Neil Austrian, Starboard CEO Jeffrey Smith called for lowering expenses to improve performance.

Bellevue, Wash. -- Eddie Bauer LLC said Monday it has named Daniel E. Templin as COO and CFO of the company.

Templin was previously CFO for VF Outdoor, which includes brands such as The North Face, Vans, JanSport and Timberland.

Eddie Bauer also announced that current CFO Marv Toland will move into the newly created role of senior VP Direct with responsibility for the brand's e-commerce and catalog businesses.