Mergers & Acquisitions

New York City -- Blockbuster said on Monday that it reached a $290 million deal to be bought out of bankruptcy by a group of investors.

The offer by a group of hedge firms comprised of Monarch Alternative Capital, Owl Creek Asset Management, Stonehill Capital Management and Värde Partners -- is a so-called “stalking horse” bid. It sets a base price that Blockbuster hopes will attract other potential suitors who will offer more.

Minneapolis -- Best Buy is looking to reinvent its future and late Monday announced a series of moves designed to enhance the company’s growth prospects and profitability.

New York City -- Barnes & Noble reported Tuesday that net income for the quarter ended Jan. 29 decreased 24.7% to $60.6 million, from $80.4 million a year earlier. Although the chain returned to profitability after three straight quarters in the red, its increase in revenue was lower than expected.

Overall sales were up 6.9% to $2.3 billion. Same-store sales at its namesake stores rose 7.3%; same-store sales at its college bookstore chain dropped 2.2%.

Cary, N.C. -- Business analytics software and service provider SAS announced Tuesday that it is acquiring Assetlink, a marketing resource management firm.

Indianapolis -- Electronics and appliances retailer Hhgregg said Friday it is planning to open as many as 20 new stores in the Chicago market this fall.

According to a report by the Chicago Tribune, the openings would make the Chicago area the largest market for the chain, with 11% of its 174 stores.

Hhgregg is leasing former Circuit City, Linens ’n Things and Wickes Furniture sites, and plans to open a DC to support the Chicagoland expansion, it said.

St. Louis -- Brown Shoe Co. said Thursday that it has acquired privately held athletic shoe maker American Sporting Goods Corp. for $145 million.

The acquisition broadens the reach of Brown Shoe, which makes Dr. Scholl's, LifeStride, Franco Sarto and other brands and operates Naturalizer and Famous Footwear stores. ASG's brands include Avia, Ryka women's fitness footwear and AND1 basketball shoes for men and boys.

New York City -- Borders Group on Thursday won bankruptcy court approval to liquidate approximately 200 stores in a deal that may bring in $175 million to creditors. The sales will begin Feb. 19, allowing Borders to take advantage of the President’s Day holiday, typically a major shopping weekend.

Hilco Merchant Resources LLC, SB Capital Group, Tiger Capital Group LLC and Gordon Brothers Group won the bidding to handle the liquidation sales, according to Bloomberg.

New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.

J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.