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Mergers & Acquisitions

  • Report: Wal-Mart in Japan insider trading probe

    Tokyo - A report released Tuesday said that Japanese prosecutors will launch an investigation into possible insider trading involving shares of Wal-Mart's Japanese subsidiary Seiyu.

    According to Reuters, which cited the Nikkei business daily website, the trading is suspected to have occurred when Wal-Mart turned Seiyu into a fully owned unit in 2007.

    In early November, Japan's Securities and Exchange Surveillance Commission began an investigation into possible insider trading. Wal-Mart has said it would cooperate with authorities.

  • Barnes & Noble narrows loss, misses Street

    New York - Barnes & Noble Inc. reported Tuesday that it narrowed its loss to $12.6 million in its fiscal second quarter, compared with a loss of $24 million in the year-ago period. Results missed Wall Street expectations, and the book seller has issued a weak outlook for the third quarter and the full year.

    Revenue surged 64% to $1.91 billion, attributed to the company’s acquisition of its college book unit. Without the acquisition, sales rose 1%.

    Same-store sales fell 3.3%.

  • Report: Wal-Mart sees big opportunities in emerging markets

    New York - Wal-Mart Stores sees more opportunity in emerging markets than in Europe, the company’s International Chief Executive Officer, Doug McMcMillion, told Bloomberg.

    “China is top of the list, and Brazil is not far behind” to make deals, McMillon said in an interview on Bloomberg Television’s “InBusiness With Margaret Brennan.” The retailer is being “patient” about finding the right way to expand in Russia, McMillon said.

  • Wal-Mart to buy 51% of South Africa’s Massmart

    Bentonville, Ark. - Wal-Mart Stores announced Monday that it is buying a controlling stake in South Africa's Massmart in an approximately $2 billion deal. The investment gives the discounter a substantial presence in South Africa and paves the way for further expansion across the continent.  Wal-Mart International president and CEO Doug McMillon made clear his company is pursuing a regional strategy.

  • Phillips Edison acquires center in Missouri

    Cincinnati -- Phillips Edison and Co.'s Fund IV announced its acquisition of Marketplace Shopping Center, in Independence, Mo.

    The property was purchased from Centro Properties Group and Ingrid Long and Drew Quinn of Grubb & Ellis represented the Seller on the transaction. The 241,682-sq.-ft shopping center is anchored by Price Chopper.

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