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Books-A-Million announces withdrawal of acquisition proposal
Birmingham, Ala. -- Books-A-Million said its largest shareholder group, the Anderson family, has withdrawn its non-binding offer to take the company private.
The Anderson family, which owns a 53% stake in the chain, had offered $3.05 per share in cash to take the company private in April.
“After discussing the proposal with the special committee of the company’s board of directors and its advisers, the Anderson family has decided not to pursue the proposed acquisition at this time,” the company said in a statement.
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New MasterCard report: Small retailer growth outpaces larger retailers for nine consecutive months
Purchase, N.Y. -- June spending at small retailers increased 8% in 2012 compared to June 2011, higher than the overall U.S. retail growth rate of 6.9%, according to a new SpendingPulse report issued by MasterCard Advisors in partnership with Wells Fargo. The same report also found that sales growth at small retailers has now outperformed growth of overall retail sales for nine consecutive months, since October 2011.