Legislative, Regulatory & Legal

The entire Walmart board was re-elected last Friday at the company’s shareholders meeting, but a substantial number of negative votes indicate some investors are not happy with long-time board members and key senior leaders.

The Sobey’s chain of food stores, whose parent company counts former Walmart Canada head Dave Ferguson among its board members, has added new square footage to its retail portfolio with the acquisitions of Safeway’s Canadian stores.

The $5.8 billion deal, announced late Wednesday will added Safeway’s 223 stores and 12 manufacturing facilities to Sobey’s existing operation which includes about 1,500 stores under banners such as Sobeys, IGA extra, Thrifty Foods, IGA, Foodland and FreshCo.

Deerfield, Ill. -- Walgreens will pay $80 million as part of a settlement with the Drug Enforcement Agency (DEA) over a failure to report unusually large shipments of prescription painkillers from a distribution center in Jupiter, Fla. Six Walgreens pharmacies in Florida received tens of thousands of orders for regulated painkillers that were up three times the normal size, but the distribution center did not report them to the DEA as they were required to by law.

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Covington, La. -- Marty Mayer, president and CEO of Stirling Properties, won election as VP of the International Council of Shopping Centers’ Southern Division at RECon in May.

As a divisional VP, Mayer will also sit on the Government Relations Advisory Committee. In addition, he currently serves on the Executive Committee of ICSC’s Worldwide Board of Trustees.

 

WESTLAKE VILLAGE, Calif. — Dole Food Company's board of directors has received an unsolicited proposal from David H. Murdock, the company's chairman of the board and CEO, to acquire all the outstanding shares of common stock of Dole not already owned by Murdock or his family for $12 per share in cash.

SALT LAKE CITY — Overstock.com announced it would resume using Missouri advertisers after Missouri Gov. Jay Nixon's veto of the recently enacted affiliate nexus bill. The bill sought to recruit remote sellers into state sales tax collection if they continued to use Missouri Internet advertisers.

Naperville, Ill. – OfficeMax shareholders will vote on a proposed merger with Office Depot on July 10, in a special meeting to be in Naperville, Ill. Shareholders of record as of May 28, 2013 are eligible to participate.

Shareholders will vote on a merger initially announced by OfficeMax and Office Depot on February 20, 2013. The merger process is ongoing and the transaction is expected to be completed by the end of this year subject to shareholder and regulatory approval.

HOUSTON — One World Holdings has appointed Wilma Delaney, former VP of federal, state and provincial governmental and regulatory affairs for Dow Chemical, to its board of directors.

"We are very pleased to welcome Wilma to the One World board," said Joanne Melton, CEO of One World Holdings. "Wilma brings deep expertise in corporate governance and global market expansion that will prove invaluable as One World continues its growth trajectory."

INDIANAPOLIS — Kroger central division employees working at Kroger stores in the Indianapolis area have ratified a new four-year labor agreement with UFCW Local 700.