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Wal-Mart Stores, Inc. (WMT)

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  • Jun. 20, 2011, 9:54 AM
    Wal-Mart (WMT +0.1%) closes a deal to acquire a 51% stake in South African-based Massmart (MMRTY.PK) for 148 rand, or $21.80, per Massmart ordinary share. Under the agreement, Wal-Mart will be entitled to nominate the chairman and three non-executive directors to Massmart's board. However, Wal-Mart has asked Massmart's Mark Lamberti to stay on as chairman.
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  • May. 31, 2011, 8:48 AM
    South Africa approves Wal-Mart's (WMT +0.4%) $2.4B bid for retailer Massmart (MMRTY.PK) without conditions on local procurement that could have led to Wal-Mart abandoning the deal. Unions, though, had threatened the "mother of all boycotts" if the deal were approved. (previous)
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  • May. 30, 2011, 8:24 AM
    South Africa's competition regulator will tomorrow announce its decision on Wal-Mart's (WMT) $2.4B offer for 51% of local retailer Massmart (MMRTY.PK). Wal-Mart's bid is seen as a test case for major foreign investment in South Africa. (previous)
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  • May. 16, 2011, 11:41 AM
    Wal-Mart (WMT +0.5%) says it might walk away from its $2.4B Massmart (MMRTY.PK -0.5%) merger if South Africa imposes supplier conditions and worker rehires favored by its Competition Commission. The companies say they won't accept conditions, but are still sending trial balloons of possible voluntary pledges. (previously)
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Company Description
Wal-Mart Stores Inc operates retail stores in various formats under various banners. Its operations comprise of three reportable business segments, Walmart U.S., Walmart International and Sam's Club in three categories retail, wholesale and others.