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Mergers & Acquisitions

  • The new East and the old West

    Walmart’s past and future collided this week in a stark juxtaposition of events. While the company’s lawyers were engaged in oral arguments before the U.S. Supreme Court stemming from events in the past, senior executive of the international division were gathered with financial analysts in a hotel ballroom in Shenzhen, China to discuss the future.

  • We might lose and don’t know what it will cost

    Walmart this week filed its annual report on form 10-K with the Securities and Exchange Commission, and in keeping with good disclosure practices around risk factors the company offered an update on the sex discrimination case that has been all over the news.

  • Drugstore.com shareholders challenge Walgreens’ acquisition

    STEVENSON, Md. — The law firm of Brower Piven on Tuesday announced that a class action lawsuit has commenced in the Delaware Chancery Court on behalf of all shareholders of Drugstore.com, alleging violations of state law by the company’s board of directors relating to the proposed acquisition by Walgreens.

    The complaint alleged that Drugstore.com's board of directors breached their fiduciary duties by failing to maximize shareholder value, among other things.

  • Family Dollar Q2 profit climbs 10%

    Matthews, N.C. -- Family Dollar Stores reported Wednesday that net income for the quarter ended Feb. 26 rose 10% to $123.2 million, compared with $112.2 million a year earlier. Results were helped in part by improved traffic and higher transaction value.

    Revenue increased 8% to $2.26 billion, from $2.09 billion. Same-store sales rose 5.1%.

    Earlier in March, Family Dollar turned down an approximately $7 billion buyout offer from minority shareholder Nelson Peltz's Trian Fund.

  • Bar Louie selects Jones Lang LaSalle for 100-location expansion

    Chicago – Bar-and-restaurant concept Bar Louie said Tuesday it is undertaking a major national expansion initiative of more than 100 new locations in 20 markets nationwide and has appointed Jones Lang LaSalle as its exclusive real estate advisor.

    Jones Lang LaSalle will work in tandem with Bar Louie’s real estate team and select brokers in various markets to leverage both tenant-favorable conditions, as well as the availability of vacant full-amenity restaurant space located within high-density urban and suburban markets.

  • Saks extends credit agreement to 2016, revises terms

    New York City -- Saks said Tuesday that lenders have agreed to amend a $500 million revolving credit agreement that now extends to 2016. The agreement also favorably revises other terms.

    As a result, the department store retailer estimates its 2011 interest expenses will total about $50 million, down from its previous estimate of $51 million to $53 million.

    The debt previously was scheduled to mature Nov. 23, 2013. Now, it matures March 29, 2016.

  • Applebee’s selects Buxton to assist in market planning and site selection

    Fort Worth, Texas -- Applebee’s Services said Wednesday it has chosen customer analytics firm Buxton to assist with the franchise system’s real estate expansion and company asset-management strategies for Applebee’s Neighborhood Grill &Bar restaurants.

    Applebee’s, a DineEquity brand, will use Buxton’s Scout platform, to establish future expansion in potential franchise markets and assist in asset management decisions.

  • Report: Blockbuster to close another 186 stores

    Dallas -- A Wall Street Journal report on Monday said that, according to court filings, Blockbuster will start closing 186 more stores by the end of the month, bringing the number of its U.S. locations closed or slated for closure to 1,145, or more than a third of its total, since the video-rental chain filed for bankruptcy protection in September.

    In filings Friday with the U.S. Bankruptcy Court in Manhattan, Blockbuster said it will reject the leases on 186 of its stores by March 31.

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