Mergers & Acquisitions

Fort Myers, Fla. – Chico’s FAS repurchased approximately 6.7 million shares of its common stock, for approximately $125 million, during the fourth quarter of fiscal 2013, completing all but $55 million of its existing share repurchase authorization. The Chico’s board of directors has cancelled the remainder of its March 2013 share repurchase program and approved a new $300 million share repurchase authorization for the company's common stock.

Hollywood, Calif. -- Frederick's of Hollywood Group Inc. has entered into a definitive merger agreement that provides for the acquisition of the company by a consortium consisting of HGI Funding LLC, a wholly-owned subsidiary of Harbinger Group Inc., and certain of the company's other common and preferred shareholders. The members of the consortium as a group beneficially own approximately 88.6% of the company's common stock.

Sears Holdings has elected law firm executive Cesar Alvarez to its board of directors.

Alvarez is co-chairman of the international law firm Greenburg Traurig, which he joined in 1973. Before his appointment as chairman, he served as executive chairman for more than three years and as its CEO for 13 years, starting in 1997.

Hoffman Estates, Ill. -- Cesar L. Alvarez, co-chairman of the international law firm of Greenberg Traurig, LLP, has been elected to membership on the Sears Holdings board of directors.

Alvarez joined Greenberg Traurig in 1973. Prior to his appointment as co-chairman, Alvarez served the firm as its executive chairman for more than three years, and as its CEO 13 years. Prior to becoming CEO in 1997, he practiced securities, corporate and international law for more than 25 years.

The flurry of activity continued at Office Depot as the company which resulted from the merger of Office Depot and OfficeMax laid groundwork for growth in 2014 by identifying some key leaders.

A little more than one month after Roland Smith was named chairman and CEO of Office Depot and one week after choosing Boca Raton, Fla., as the merged company’s headquarters, Smith announced a slate of senior executive positions that touch every aspect of the company along with several roles that are yet to be filled.

New York -- Whole Foods Market sees the potential to expand to 1,200 stores throughout the United States, which is nearly three times the number of locations it currently operates worldwide, the company’s co-chief executives co-CEOs John Mackey and Walter Robb said in an interview on CNBC on Tuesday.

Philadelphia — Pennsylvania Real Estate Investment Trust has completed the financing of Wyoming Valley Mall in Wilkes-Barre, Pa., and used a portion of the proceeds to repay the mortgage loan balance on Beaver Valley Mall in Monaca, Pa., without penalty.

The new 10-year, non-recourse loan on Wyoming Valley Mall totals $78 million and replaces a $65 million loan that was repaid in September. The transaction produced proceeds of $13 million. The interest rate on the new mortgage is 5.17%, a decrease of 68 basis points from the previous rate.