Mergers & Acquisitions

Hibbett Sports has promoted Jared Briskin to SVP and chief merchant. Briskin replaces Rebecca Jones, who left the company this week.

It’s official. Following a strategic review of the company’s growth strategies and structure, the eBay board has approved a plan to separate the company’s eBay and PayPal businesses into independent publicly traded companies in 2015, subject to customary conditions.

Men's Wearhouse has named Scott Norris as Men's Wearhouse brand and Moores brand president and Paul Fitzpatrick as Jos. A. Bank's brand president. Additionally, it has appointed Jim Thorne EVP of direct sourcing. All three will report to Mary Beth Blake, the company's president and chief merchandising officer.

Walgreens posted fourth-quarter sales of $19.1 billion, representing an increase of 6.2% compared to the year-ago period, while sales for the fiscal 2014 ended Aug. 31 increased 5.8% to a record $76.4 billion.
 

Johnson & Johnson has entered into a definitive agreement to acquire Alios BioPharma, a privately held clinical stage biopharmaceutical company focused on developing therapies for viral diseases, for approximately $1.8 billion in cash.

The acquisition will include Alios BioPharma's portfolio of potential therapeutics for viral infections including compound AL-8176, an orally administered antiviral therapy currently in Phase 2 studies for the treatment of infants with respiratory syncytial virus.
 

Alpharetta, Ga. - McAlister's Deli has signed an agreement with new franchise group MidSouth Hospitality Inc. to open 10 locations in Middle Tennessee. Led by McAlister's veteran Charles Corley, MidSouth Hospitality will be opening its first McAlister's in early 2015.

The newly formed company plans to open a total of 10 new restaurants during the next seven years.

New York - MG Properties, the real estate investment and development arm of McCourt Global, is entering an equity and development partnership with Hines, the international real estate firm, on the development of its mixed-use project at 360 Tenth Ave. in New York City. MG Properties and Hines have selected SHoP Architects to design the project.

In 2013, 360 Tenth Avenue was purchased from Sherwood Equities for approximately $167.5 million. The property is zoned for up to 733,406-sq.-ft. of Total Zoning Floor Area (ZFA).

By now it’s old news that Apple plans to disrupt retail payment with its Apple Pay platform. However, lost in the hoopla surrounding Apple Pay was an interesting announcement that Apple is also working on a new interactive, piracy-proof digital music service that it hopes will bring consumers back to purchasing whole albums, as well as individual songs.

New York -- Standard General LP is in talks to improve RadioShack’s cash position in advance of the holiday season, Reuters reported. The hedge fund said it was in talks with the struggling retailer to buy the company's loans and other commitments under its asset-backed credit facility.

Standard General has also raised its stake in RadioShack to 9.8% from 7.08%. It is now the retailer’s largest shareholder.

Lakewood, Colo. -- Einstein Noah Restaurant Group, whose banners include Einstein Bros., Bagels, Noah's New York Bagels, and Manhattan Bagel brands, has agreed to be acquired by JAB Holding Company for approximately $374 million.

The agreement, unanimously approved by Einstein Noah Restaurant Group’s directors, represents a premium of approximately 47% over Einstein Noah’s 30-day average trading price.