Mergers & Acquisitions

Warrendale, Pa. -- Rue21 Inc. said Wednesday that the “go-shop” period that would have allowed it to be sold to an alternate buyer has expired, edging the specialty apparel and accessories chain closer to a deal with Apax Partners.
 
In May, Rue21 reached a deal to sell itself to Apax for nearly $1 billion; terms allowed the retailer to shop competing bids until July 2. Although 60 potential buyers were contacted, none submitted a competing bid to acquire the company.
 

Peru tends to be a logical new market for many Chilean retailers and Walmart will be next, according to unconfirmed reports from a company executive who spoke to Reuters.

The news agency this week said Walmart, which is already one of the leading retailers in Chile, will begin work this year to open stores in Peru and plans to form a local management team. As expected, Walmart denied the report but did acknowledge it planned to run a quality assurance office in Peru for procuring products.

Minneapolis – Target has named former U.S. Senator and Secretary of the Interior Ken Salazar to its board of directors.

Salazar, 58, was a US Senator from Colorado from 2005 to 2009. He was named Secretary of the Interior in January 2009 and stepped down in April 2013. Last month, he became a partner for the international law firm WilmerHale. Salazar is the 12th member of Target's board.

Mary Dillon resigned from the board of directors of Target last month after she was named CEO of Ulta Salon, Cosmetics & Fragrance Inc.

Hasbro and Electronic Arts have taken their relationship to the next level and extended their agreement, which will see EA develop several of Hasbro’s bestselling gaming brands for mobile platforms globally. 

CORTE MADERA, Calif. — Restoration Hardware is a company one tends to associate with high-end home furnishings, but the company is expanding into new territory. RH recently launched Hierarchy — an apparel, accessories and footwear brand — and has edited its executive leadership team as a result.

Columbus, Ohio -- Glimcher Realty Trust has announced the appointment and election of Victor Pildes as senior VP development. He will provide leadership in project management and design, strategic planning and overall direction for all new development and redevelopment activities.

With 25 years of development and project management experience, Pildes comes to Glimcher from Centrum Partners LLC, where he served as VP and consultant. He has also served in senior executive positions at Westfield and JMB/Urban Retail Properties Company.

Corte Madera, Calif. – Gary Friedman, chairman emeritus of Restoration Hardware, has been named chairman of the board and co-CEO. Friedman, former co-CEO of Restoration Hardware, will serve with co-CEO Carlos Alberini.

Molson Coors Brewing Company has appointed former human resources director of Vodafone Vicky Cookson as the company’s chief people officer for Molson Coors Europe, based in Prague, Czech Republic, effective Sept. 1.

Cookson will report directly to global chief legal and people officer Sam Walker and join the European leadership team led by Mark Hunter. Cookson is human resources executive with international and cross-cultural experience.