Mergers & Acquisitions

New York -- Sycamore Partners extended its tender offer to buy The Talbots Inc. to Aug. 2. It is the second extension given by Sycamore to the retailer.

The private equity firm said in May that it would buy Talbots for $193.3 million. The tender offer was previously scheduled to expire at 5 p.m. ET on July 27.

Birmingham, Ala. -- Books-A-Million has named Michael Rediker as corporate development analyst. Rediker will be responsible for identifying, analyzing and implementing strategic corporate initiatives within the organization, including new business growth opportunities.

Rediker was most recently with the investment banking firm Paces Battle Group Inc. where he also provided a broad array of transactional and other corporate finance services to bank and thrift clients.

MINNEAPOLIS — Supervalu on Monday named Wayne Sales, a Canadian hall-of-fame-caliber retailer, as the company's president and CEO, replacing Craig Herkert.

“In my new role, I will work closely with our leadership team to improve our sales and earnings trajectory and generate long-term shareholder value, focusing relentlessly on identifying factors that will drive meaningful improvements in our strategy execution and overall performance,” Sales stated.

Minneapolis -- Supervalu Inc. said on Monday that its chairman Wayne Sales has been named president and CEO. He replaces Craig Herkert as CEO.

Roswell, Ga. -- PGA Tour Superstore announced plans to open a location in Paramus, N.J. The store, scheduled to open later this year, is PGA Tour’s 15th location.

The PGA superstores are owned and operated by Golf & Tennis Pro Shop, whose controlling owner and chairman is Arthur M. Blank, retired Home Depot co-founder and owner of the Atlanta Falcons.

LONDON — Unilever has put its North America frozen meals business on the sales block.

Retired KPMG International chairman Timothy Flynn was named to the Walmart board of directors on Monday amid ongoing investigations into whether the company violated the Foreign Corrupt Practices Act.

New York -- Richard Schulze, the founder of Best Buy, is recruiting a team of managers to run the company should his attempt to take the company private be successful, according to a report by Bloomberg.

“He is talking to people he trusts. There is a small group he’d like to have with him in righting the ship,” J.D. Wilson, senior VP of enterprise capabilities, said in an interview with Bloomberg.

Wilson said his position is being eliminated as part of Best Buy’s planned cutbacks.