Mergers & Acquisitions

WOONSOCKET, R.I. — CVS Caremark posted second-quarter results that were at the high end of its guidance and narrowed its 2011 outlook on continued confidence. But it was the PBM business — and the potential merger of PBM rivals Express Scripts and Medco Health Solutions — that was top of mind for many industry observers, and was a topic that CVS Caremark president and CEO Larry Merlo hit head on at the start of Thursday morning’s conference call.

New York City -- Apple has hired executive search firm Egon Zehnder International to help it find a replacement for its retail head Ron Johnson, according to reports by The Wall Street Journal and Bloomberg.

The reports suggest that in hiring Egon Zehnder, which has offices around the globe, Apple may be looking for an executive with international retail experience. Apple is set to open nearly 30 stores this year outside of the United States.

APOPKA, Fla. – Winn-Dixie announced the opening of the first of several remodeled stores in Central Florida Wednesday as the company looks to reposition itself as the grocery destination in the area.

The store, located in Errol Plaza, is one of 17 planned store remodels. The company expects to invest approximately $5.5 million per store.

PLANO, Texas — Dr Pepper Snapple Group has announced that Carolyn Ross, VP investor relations, will assume leadership of the company’s investor relations function, reporting directly to CFO Marty Ellen.

New York City -- Manhattan-based Atco Properties & Management said it has purchased Crossroads Center, a 99,000-sq.-ft. neighborhood shopping center in Austin, for $14.25 million.

The center is currently 70% leased to a mix of national tenants such as Bennihana, Chili’s, West Marine, Cycle Gear, as well as locals Trudy’s, Plucker’s and Big Daddy’s Burgers. 

New York City -- The Talbots said on Tuesday that its board of directors has adopted a shareholder rights plan -- or a poison pill -- to protect its stockholders after a private equity firm disclosed it had acquired a sizeable stake in the company.

On Monday, Sycamore Partners LP revealed it had acquired a 9.9% stake in Talbots and said it planned to attempt to talk with the retailer about strategy and operations.

Reports put Talbots’ market value at $288 million, and suggest a buyout would exceed $400 million.

NEW YORK  — The end of Borders as we know it may be drawing near. According to court papers filed with the U.S. Bankruptcy Court in Manhattan, Borders Group is planning to auction off its intellectual property, including the Borders brand name and the Borders.com website, in a move that will enable the brand to live on after liquidation in a limited fashion.

The Sept. 14 auction, which will sell off the logo, trademarks, website, customer lists and other intellectual property, is expected to draw millions of dollars worth of offers.

HOFFMAN ESTATES, Ill. — Sears Holdings announced that Edgar Huber has joined the company as CEO and president of Lands' End.  Huber is responsible for driving growth and profit opportunities for Lands' End, as well as continuing to drive the culture that provides customers with the quality, value and service that the brand has long been known for.  He was most recently EVP global business development for Liz Claiborne Inc.