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RETAIL TAKEOVER The low-cost retailer 99 Cents Only Stores agreed on Tuesday to sell itself to a group of investors that includes its founding family for $1.6 billion in cash, ending a lengthy sales process.
The Prime Retail takeover was accomplished by merging it into the Prime Outlets Acquisition Company, a Delaware limited liability concern affiliated with Lightstone.
I shudder to think of the consequences to American's already suffering urban populations if Walmart succeeds in duplicating its rural retail takeover.
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Mr Wiese has been linked with a string of UK retail takeovers in recent years, including a bid for department chain BhS, formerly owned by Sir Philip Green.
This looks like it could be a roundabout way of Green effectively financing Retail Acquisitions' takeover of BHS.
This makes such banks, which control about 40% of the retail market, nearly takeover proof.
"Black Jack Dellall helped to finance Green's takeover of retail group Sears in 1998.
Stocks surged Thursday, thanks to strong retail sales and the takeover of Alltel by Verizon Wireless.
Green's Arcadia Group also wrote off £200m of a charge over BHS assets as part of the takeover deal with Retail Acquisitions.
The withdrawal of Steinhoff's potential offer cleared the way for Sainsbury's to finalise its planned takeover of Home Retail which has been under discussion since last year.
Mr Swannell, who was a lead adviser to M&S in its defence against retail tycoon Sir Philip Green's takeover bid in 2004, will succeed Sir Stuart Rose on January 4. Sir Stuart, who will continue as chairman until January 4, previously held the role of both chairman and chief executive.
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