Financial/Banking

New York -- Sycamore Partners extended the expiration date of its tender offer to buy The Talbots by 14 days. Sycamore said in May that it would buy the women's apparel retailer for $193.3 million, or $2.75 per share -- a price that was lower than its previous offers.

The tender offer was previously scheduled to expire at midnight, New York City time, on July 13. It now has been extended to July 27.
 

Visa and MasterCard on Friday announced a proposed $6.6 billion settlement to a long-running dispute over the fees they charge merchants, but one major trade group was clearly annoyed at the prospect.

New York -- Barnes & Noble announced the appointment of Thomas Donohue as VP treasurer, and Kanuj Malhotra as VP corporate development.

The company also said it has promoted Andy Milevoj to VP investor relations, all reporting directly to Mike Huseby, CFO.
 

NEW YORK — Barnes & Noble has announced the appointment of Thomas Donohue as VP treasurer; Kanuj Malhotra as VP corporate development; and the promotion of Andy Milevoj to VP investor relations, all reporting directly to Mike Huseby, CFO.

New York -- A judge in Delaware on Monday denied requests from the California State Teachers Retirement System and a group of New York City pension funds to seek appointments of lead plaintiff and lead counsel in a consolidated shareholder lawsuit over allegations of bribery involving Wal-Mart Stores’ operations in Mexico, the Associated Press reported.

NEW YORK — TLB Merger Sun, an affiliate of Sycamore Partners, has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock, and the associated stock purchase rights, of The Talbots Inc. for $2.75 per share, net to the seller in cash, without interest, and less any applicable withholding taxes, to 5 p.m., New York City time, on Friday, July 27, unless further extended.

Riverwoods, Ill. -- Discover on Monday announced that its cards are now accepted at Neiman Marcus stores nationwide.

“By adding Discover as another payment option, Neiman Marcus continues to give customers more flexibility and convenience at the point of sale," said Jim Gold, president, specialty retail, The Neiman Marcus Group. “We are happy to open our Neiman Marcus stores to loyal Discover card members so they can shop their favorite brands and earn more rewards.”

 

Michael Williams has joined Jackson Hewitt, the nation’s second largest tax preparation firm, as SVP and chief marketing officer.

Williams joins the tax service provider following a tax season in which the firm saw its relationship with Walmart expand to 2,800 in-store locations from 2,000 locations the prior year.