Mergers & Acquisitions

Bentonville, Ark. -- A report Thursday by the Associated Press said that Wal-Mart Stores executives met Thursday to discuss the proposed Massmart acquisition, which is expected to close in June.

According to the report, as Wal-Mart expands its international business, the company wants to bring ideas it gains from the South African chain to other markets.

New York City -- Private equity firm Gores Group is in talks to buy more than half of Borders Group's remaining stores, the Wall Street Journal reported on Wednesday, citing people familiar with the matter.

Borders, which filed for Chapter 11 bankruptcy protection in February, would be able to continue operating as a going concern, according to the report.

Other suitors are also talking with Borders, the Wall Street Journal reported.
 

Colorado Springs, Colo. -- Addison, Texas-based Coyote Management L.P. and Garrison Investment Group, through their affiliates, have acquired Chapel Hills Mall, located in Colorado Springs, Colo.

Chapel Hills Mall is a 1.2 million-sq.-ft. enclosed super-regional mall anchored by Dillard’s, J.C. Penney, Macy’s, Sears, Dicks Sporting Goods and Burlington Coat Factory, and features a 15-screen Carmike Cinema and over 100 specialty stores.

Dallas -- Real estate investment firm The Cogent Group said Thursday it has acquired 12 convenience stores & gas stations in the Charlottesville, Va. market.

The properties are leased to Charlottesville-based Virginia Oil Co. and feature food partnerships with McDonald’s, Blimpie and Dairy Queen.

Cogent’s real estate purchase was part of a simultaneous transaction among The Cogent Group, VPS Convenience Store Group and Virginia Oil Co.

New York City -- Capital spending for the retail industry is expected to increase 16% in 2011 to $42.5 billion, with all sub-segments projecting double-digit percentage increases (except for mass merchants, whose growth is projected to rise 9%), according to a survey by Equity Research.

EL SEGUNDO, Calif. — Tesco said it is turning its attention to its U.S. supermarket chain, according to the company's annual report.

According to the company, despite the fact that its U.S. operations, which include its Fresh & Easy supermarket chain, have been slower to recover when compared with its European counterparts, Tesco said, "We are now seeing signs of improvement. ... Customer feedback at Fresh & Easy remains excellent, and strong growth in customer numbers is driving steady sales improvement in each store."

New York City -- South Carolina legislators gave final approval Wednesday to a deal bringing Amazon.com and its promise of 2,000 jobs to the state, the Associated Press reported.

The House voted 90-14 to approve a compromise brokered last week in the Senate, sending the measure to Gov. Nikki Haley's desk.

New York City -- Seattle’s Best Coffee LLC, a division of Starbucks Corp., has asked a bankruptcy judge to reject Border Group’s request to end the companies’ licensing agreement.

Borders is not entitled to cancel the agreement and continue to use Seattle’s Best’s trademarks and products, the coffee company said today in a court filing. Seattle’s Best also disputed Borders’s claim that terms of the agreement are excessive.