Content about Takeover

August 21, 2014

Citing antitrust concerns, Family Dollar Stores on Thursday firmly rejected a takeover offer by larger competitor Dollar General, and said it favors a smaller deal with potential buyer Dollar Tree.

New York -- Citing antitrust concerns, Family Dollar Stores on Thursday firmly rejected a takeover offer by larger competitor Dollar General, and said it favors a smaller deal with potential buyer Dollar Tree. Following an $8.5 billion offer last week by Dollar Tree, Dollar General offered a $9 billion, all-cash deal.

November 4, 2013

Men’s Wearhouse again rejected a $2.3 billion takeover bid by Jos. A. Bank, refusing to allow it confidential access to its books.

Fremont, Calif. -- Men’s Wearhouse again rejected a $2.3 billion takeover bid by Jos. A. Bank, refusing to allow it confidential access to its books. Last week, Jos. A. Bank sent a letter to Men’s Wearhouse, hinting that it might raise its proposed takeover offer above $48 a share if it was allowed to conduct due diligence.

In a statement on Monday, Men’s Wearhouse once again reiterated its belief that its own turnaround plan would be better for shareholders.

October 17, 2013

Jos. A. Bank Clothiers Inc. reportedly may consider a hostile takeover bid for Men’s Wearhouse.

Hampstead, Md. – Jos. A. Bank Clothiers Inc. reportedly may consider a hostile takeover bid for Men’s Wearhouse. According to Bloomberg, Jos. A. Bank chairman Robet Wildrick said he would prefer a friendly acquisition but his company is not ruling any options out.

September 17, 2013

Safeway Inc. announced that it has adopted a one-year stockholder rights plan, or a “poison pill,” to discourage an unfriendly takeover.

Pleasanton, Calif. -- Safeway Inc. announced that it has adopted a one-year stockholder rights plan, or a “poison pill,” to discourage an unfriendly takeover.

The company adopted the plan after it became aware that unnamed investors had accumulated “a significant amount” of its stock. The investor turned out to be hedge fund company Jana Partners, which disclosed in a filing that it has accumulated a 6.2% stake in the supermarket retailer.

August 22, 2013

J.C. Penney Co. isn’t taking any chances. The retailer on Thursday announced it has adopted a one-year shareholder’s rights plan to protect itself against any future hostile takeover efforts.

Plano, Texas -- J.C. Penney Co. isn’t taking any chances. The retailer on Thursday announced it has adopted a one-year shareholder’s rights plan to protect itself against any future hostile takeover efforts.

August 16, 2013

Alco Stores reportedly has received a takeover bid from its largest shareholder, Everbright Development Overseas Ltd., which is larger than the bid it received on July 25 from Argonne Capital.

Abilene, Kan. – Alco Stores reportedly has received a takeover bid from its largest shareholder, Everbright Development Overseas Ltd., which is larger than the bid it received on July 25 from Argonne Capital. According to Reuters, the Everbright offer of $14.30 per share in cash values Alco at $46.6 million.

In contrast, the previous bid from Argonne offered $14 cash per share, or about $45 million. That offer included a clause allowing Alco to take rival bids through Aug. 23.

July 6, 2012

Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders.

Minneapolis -- Christopher & Banks Corp. has rejected Aria Partners’ unsolicited $64 million takeover offer, saying it was not in the best interest of stockholders. The private equity firm owns 4% of Christopher & Banks shares. The retailer also adopted a stockholder rights plan, or poison pill, with a trigger at 15%

Private equity firm Aria owns 4% of Christopher & Banks shares.

May 16, 2012

The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

Hingham, Mass. -- The Talbots and Sycamore Partners extended the exclusivity period for the private equity firm's non-binding $214.6 million takeover offer to May 22.

Talbots had entered into an exclusivity agreement with Sycamore on May 5, which was due to expire on May 15.

March 3, 2011

Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company."

Matthews, N.C. -- Family Dollar Stores on Thursday said its board rejected a takeover bid by an activist investor, saying it "substantially undervalues the company." In February, Nelson Peltz's Trian Fund offered $55 to $60 per share, or about $6.99 billion, for Family Dollar.

The chain said it also adopted a shareholder rights plan, commonly called a "poison pill," that would significantly dilute shares if a takeover attempt proceeds.

February 15, 2011

Jo-Ann Stores announced Tuesday that it has received no other takeover bids after a nearly two-month "go-shop" period.

New York City -- Jo-Ann Stores announced Tuesday that it has received no other takeover bids after a nearly two-month "go-shop" period. The fabric and crafts chain said it will therefore ask shareholders to vote on the company's proposed $1.6 billion sale to Leonard Green & Partners LP.

The meeting is scheduled for March 18.

Jo-Ann Stores, which operates 751 stores in 48 states, announced the proposed sale in December. The company had until Feb. 14 to seek a better offer.

December 8, 2010

Casey's General Stores reported on Wednesday that the costs of its recapitalization plan and its defense against hostile bids by competitor Canada’s Alimentation Couche-Tard take a bite out of its second-quarter net income.

Ankeny, Iowa -- Casey's General Stores reported on Wednesday that the costs of its recapitalization plan and its defense against hostile bids by competitor Canada’s Alimentation Couche-Tard take a bite out of its second-quarter net income.

Casey's said it earned $21.7 million for the quarter that ended Oct. 31, compared with $33.6 million in the same quarter last year. The results include roughly $19.4 million in expenses related to its recapitalization plan and the dispute with Couche-Tard.

September 30, 2010

Alimentation Couche-Tard has given up its months-long battle to acquire Casey’s General Stores....

September 19, 2010

Proxy-advisory firm Institutional Shareholders Services (ISS) said it has recommended that Barnes & Noble shareholders...

September 1, 2010

Alimentation Couche-Tard on Wednesday increased the value of its hostile bid to buy Casey’s General...

August 11, 2010

In its continuing fight against takeover, Casey’s General Stores president and CEO Robert J. Myers...

August 3, 2010

Barnes & Noble said it is exploring strategic alternatives, including putting itself up for sale....

July 21, 2010

Canadian c-store chain Alimentation Couche-Tard said Thursday it has raised its offer to acquire Casey’s...

July 12, 2010

Barnes & Noble board member Michael Del Giudice suggested in his testimony Tuesday that shareholders...

July 11, 2010

The chairman of Barnes & Noble Inc., Leonard Riggio, testified Friday that the poison pill...

July 11, 2010

Alimentation Couche-Tard Inc. is giving Casey’s General Stores’ shareholders more time to warm up...

June 28, 2010

Equity manager ClearBridge Advisors on Monday sent a letter to the board of Casey's General...

June 10, 2010

Convenience store operator Casey's General Stores said Friday it has sued Alimentation Couche-Tard, saying the...

January 21, 2009

Charlotte Russe Holding Inc. said Wednesday that it is considering a possible sale of the...

December 22, 2008

Charlotte Russe Holdings Inc. shareholder B. Riley & Co. LLC said Tuesday that the retailer...

December 9, 2008

With retail stock prices near record lows, it’s likely that more companies will follow in...