Legislative, Regulatory & Legal

Dollar Tree has agreed to sell 330 of its stores to the private-equity firm Sycamore Partners in order to get regulatory approval for its $8.5 billion purchase of Family Dollar.

Sycamore Partners intends to operate the 330 stores, which represent approximately $45.5 million of operating income for Family Dollar, under the Dollar Express banner.

The U.S. Supreme Court ruled against Abercrombie & Fitch Monday in favor of a Muslim woman who filed a lawsuit after she was denied a job at a store operated by the retailer because she wore a head scarf for religious reasons.

Earlier this year, San Francisco sent shockwaves through the business community when it enacted the “Retail Workers Bill of Rights,” two ordinances that significantly burden retail employers operating in San Francisco by requiring large retailers to provide “predictability pay” to any employee who does not receive sufficient notice of scheduling changes.

Deerfield, Ill. – Walgreens Boots Alliance plans to keep its headquarters in the U.S. and never went beyond the consideration stage of moving operations outside the U.S. in an “inversion” to reduce corporate taxes. At  the Walgreens annual shareholder meeting May 28, Walgreens chairman James Skinner said Walgreens headquarters will remain in Deerfield, Illinois.

CHESAPEAKE, Va. -- Dollar Tree on Friday announced it had reached an agreement to sell private equity firm Sycamore Partners a divestiture package of 330 Family Dollar Stores locations, with the deal contingent on the completion of Dollar Tree’s pending acquisition of Family Dollar.  Sycamore Partners intends to operate the 330 stores, which represent approximately $45.5 million of operating income for Family Dollar, under the Dollar Express banner.

Fairfax, Va. – Geeknet Inc. has determined that an acquisition offer from an unnamed strategic bidder of $20 per share, or about $134.6 million, is superior to a previous offer from Hot Topic of $17.50 per share, or about $117.3 million.

Walmart and the attorney for comedian Tracy Morgan reached a confidential settlement agreement of a lawsuit stemming from an accident involving a Walmart truck and the vehicle in which Morgan was riding.

Walmart and Benedict P. Morelli, attorney for Tracy Morgan, Ardley Fuqua, and Jeffrey Millea reached a settlement agreement ending the lawsuit against Walmart that arose from a multi-vehicle accident involving the men on June 7, 2014, on the New Jersey Turnpike.

New York - The proposed $19 million deal between Target Corp. and MasterCard stemming from the retailer's 2013 data breach has fallen apart after it failed to get the support of 90% of the banks affected by the breach, the Minneapolis StarTribune reported. Click here for the full story.