Trading Partners

Phoenix – The $8.7 billion private equity acquisition of PetSmart Inc. that was announced in December 2014 is one step closer to fruition. Argos Merger is providing a $1.9 billion senior note unsecured offering to finance the purchase.

Costco shoppers may soon have other options for payment. American Express says it is ending its 16-year-old exclusive relationship with Costco next year.

Costco is one of the few big U.S. merchants that accepts only American Express cards. Cards branded by Visa Inc., MasterCard Inc. and Discover Financial Services can’t be used at its warehouse stores.

As the Pacific Maritime Association prepares to shut down U.S. West Coast ports from Feb. 13-16, the National Retail Federation (NRF) is issuing a public statement asking for direct White House intervention.

New York -- Shipping operations will be suspended at U.S. West Coast ports over the coming long weekend, the Pacific Maritime Association announced Wednesday. The planned shut down comes amid  stalled labor talks between the companies and the union representing 20,000 dockworkers.

Rite Aid is set to acquire leading independent pharmacy benefit manager Envision Pharmaceutical in a deal valued at $2 billion.  

DDR Corp.'s board of directors has promoted David Oakes to the chief executive officer post.

Oakes, the company's president and chief financial officer, fills a seat left empty by Daniel Hurwitz, who stepped down as CEO in December.

"After a thorough and robust search process, the board is confident that David is the right person to lead DDR into the future," Terry Ahern, the company's chairman, said. "I also want to thank the team for the terrific job that they have done while the board conducted the search process."

San Francisco – Port management temporarily halted vessel loading and unloading operations at West Coast ports the weekend of Feb. 7-8. In a statement, the Pacific Maritime Association (PMA), representing port management, said it did not want to offer port workers premium pay for diminished productivity in light of continued work slowdowns caused by disagreements with the International Longshore and Warehouse Union (ILWU) over issues such as pay, pensions and contract arbitration.

Walgreens Boots Alliance has appointed Marco Pagni, formerly group legal counsel and chief administrative officer of Alliance Boots, as EVP and global chief legal and administrative officer, effective immediately.

Citing the cost and complexity associated the rollout of the Affordable Care Act, National Retail Federation affirmed its opposition to the health care law in a sharply worded letter to top elected officials.

Moorseville, N.C. - Lowe's Companies Inc. has appointed James H. Morgan, 67, to the company's board, effective immediately. Today's announcement brings Lowe's board of directors to 12 members, 11 of whom are independent.