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No new bidders for J. Crew
New York City -- J. Crew Group said Wednesday that it did not receive any alternative takeover bids during an 85-day "go shop" period, in which the company sought alternatives to an offer from its former owner.
J. Crew agreed in November to be taken private in a $3 billion deal with two investment firms, TPG Capital and Leonard Green & Partners. It originally had until Jan. 15 to vet other prospects, and that period was extended by a month.
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Report: Tesco growth to outpace competitors
London -- A survey released Thursday said sales growth at Britain's Tesco PLC, the world's third biggest retailer, will outpace its major international rivals -- including Wal-Mart Stores -- in coming years as it expands in Asia, the Associated Press reported.
The report by London-based food and grocery analyst IGD says that Tesco will grow its business at a compound annual rate of 7.5% between 2010 and 2015, taking sales to euro106 billion ($143 billion).