Mergers & Acquisitions

Santiago, Chile -- A report by Santiago newspaper Estrategia said that Wal-Mart Stores is considering opening banks in Chile and Argentina.

The report, circulated by Bloomberg, said that Wal-Mart completed a study into banking services in Argentina. In Chile, Wal-Mart operates the Presto credit card, which it acquired in the takeover of supermarket chain Distribucion y Servicio D&S SA in 2009.

Columbia, S.C. -- Edens & Avant said Tuesday it has promoted Jami Passer to managing director. Prior to joining Edens & Avant in 2006, Passer was a partner and consultant with P3 Partners, a South Florida real estate advisory firm as well as being a managing director in the Real Estate Capital Markets Group of Andersen Corporate Finance LLC.

Conventional wisdom seems to be that Target will be as successful in Canada as it has been in the United States, following last week’s bombshell announcement that the company would enter the market via an acquisition. Target said it would acquire leasehold interests in 220 Zellers stores from the Hudson’s Bay Company, and during 2013 and 2014 it would open between 100 and 150 of the locations as Target stores.

Sarasota, Fla. -- The Retail Industry Leaders Association said Tuesday that Bill Simon, president and CEO of Walmart Stores, along with Steven Preston, president and CEO of OakLeaf Waste management, have joined the RILA board of directors.

Simon replaces Walmart vice chairman and president and CEO of global e-commerce and global sourcing Eduardo Castro-Wright on the board.

The RILA board meets twice a year to discuss the issues facing retailers and to offer insight into the opportunities and challenges confronting the industry.

DEERFIELD, Ill. — Walgreens announced several executive appointments Monday, which included naming a former United Airlines executive to the post of chief customer experience officer.

New York City -- J. Crew Group received no rival bid during a solicitation period and will stick with its nearly $3 billion buyout offer made by two private equity firms in November, according to Reuters. J. Crew agreed in November to be taken private by the two firms. It was able to solicit higher bids until Saturday.

AMSTERDAM — Former Ahold senior executive Albert Heijn, who helped lead the overhaul of the Dutch-based supermarket giant in the 1960s and 1970s, died peacefully last week at his home in the United Kingdom, the company announced. He was 83.

New York City -- The shareholders of South African Massmart chain have overwhelmingly accepted Wal-Mart's offer to buy 51% of their company, the chief executive said Monday, paving the way for Wal-Mart to enter Africa.

Massmart said the proposal was approved by 97% of shareholders who voted Monday -- 75% approval had been needed. Wal-Mart offered 148 rand (about $20) per share in a 17 billion rand (about $2 billion) deal.

The deal will have to be approved by South Africa's anti-monopoly regulators.