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Clone of A deal is a deal, except in South Africa
Operating internationally is full of pitfalls and political peculiarity, as Walmart has again discovered in South Africa where various government officials are attempting to wring additional concessions from the company related to its acquisition of Massmart.
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A&P seeks more time to submit reorganization plan
New York City -- The Great Atlantic & Pacific Tea Company (A&P) has asked U.S. Bankruptcy Court in White Plains, N.Y., for a second extension of its deadline to submit an exclusive plan of reorganization to its creditors.
The supermarket operator is looking for an extension to Jan. 16, 2012, from a previous deadline of Dec. 31, 2011. In court papers, it said the extension would provide it with "the very best opportunity for a successful exit from Chapter 11."