Mergers & Acquisitions

Satellite television provider Dish Network was selected as the winner of a bankruptcy court auction for the assets of Blockbuster late Tuesday with a bid valued at $320 million, the company announced late that day. The actual cash price Dish will pay is closer to $228 million after adjustments are made for cash and inventory. The deal is expected to close during the second quarter, according to Dish Network.

New York City -- Satellite TV company Dish Network Corp. said Wednesday that it won the auction for Blockbuster with a bid valued at $228 million in cash. The transaction, expected to close the deal during the second quarter, needs bankruptcy court approval.

As of Tuesday, Dish, investor Carl Icahn and a group of debt holders were the three remaining bidders for the Dallas movie-rental chain, which filed for Chapter 11 in September.

Minneapolis -- Opus Development Corp. announced that John Gelderman has been hired as senior VP national retail development.

In his new position, Gelderman will lead the current Opus retail team, oversee all existing retail development and will be responsible for seeking all new retail development opportunities across the country.

Irvine, Calif. -- Private-equity firm Apax Partners will acquire California-based ERP software range developer, Epicor Software and Activant Solutions, a provider of business management software solutions. Apax will pay a total of $2 billion for the acquisitions and combine the two companies.

Bismarck, N.D. -- Chicago-based Jones Lang LaSalle announced that it has been named as the new property and leasing manager for Kirkwood Mall, an 845,000-sq.-ft. enclosed mall in Bismarck, N.D., by an affiliate of Radiant Partners that recently purchased the mall from Metropolitan Life Insurance Co.

Kirkwood Mall was built in 1970 and contains 80 shops, anchored by Herberger’s, I. Keating Furniture World, J.C. Penney, Scheels and Target.
 

New York City -- Blockbuster's bankruptcy auction is set to stretch into a second day on Tuesday after preliminary talks between bidders and the chain's representatives dragged on late into Monday, a company spokesman said.

Blockbuster did not say how many bidders it attracted, but halls outside the auction room in Manhattan bankruptcy court were packed with attorneys and investment bankers refining their bids throughout Monday, Reuters reported.

DEERFIELD, Ill. — Walgreens on Tuesday reported March sales of $6.3 billion, an increase of 7.6%. Duane Reade stores, acquired in April 2010, contributed 280 basis points to the total sales increase for the month.

Dallas -- The Retail Connection, L.P., Lincoln Property Company Commercial and the Fidelity Real Estate Group announced Friday that they have acquired Village on the Parkway, a 380,000-sq.-ft. lifestyle center located in the Addison area of the Dallas Fort Worth Metroplex.

The center was sold by J.E. Robert Co. after the default by its previous owner.