Gart bids for 70% of Sports Authority

Article Abstract:

Gart Sports Co., a Denver, CO-based company, has offered to acquire a 70% stake in rival Sports Authority Inc. for $445.2 million in cash. Gart's $20-a-share bid aims to dislodge New York-based Venators Group Inc.'s $16.5-a-share bid for Fort Lauderdale, FL-based Sports Authority. Gart hopes to join together Sports Authority and Sportmart Inc., which was bought in January 1998, under the Sports Authority name. The outcome of the merger would result to over 300 stores with annual revenue of approximately $2.5 billion.

Comment:

Offers to acquire a 70% majority stake in rival Sports Authority Inc for $445.2 mil in cash, challenging Venator Group's bid

Asset sales & divestitures, Florida, Sporting Goods, Bicycle Stores, Sporting Goods Stores, Colorado, Bicycle stores, Sports Authority Inc., Article, Gart Sports Co.

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Rival exchanges have history to overcome

Article Abstract:

Vancouver Stock Exchange and Alberta Stock Exchange will merge into one national junior stock exchange. The national western exchange would also include the Canadian Dealing Network, which is the Toronto Stock Exchange's market for small companies. However, there are still few points that need to be addressed before the merger is finalized. These involve questions of who will head the merged exchange and where the headquarters will be located.

Canada, Securities and Commodity Exchanges, Securities Exchanges, Exchanges, Vancouver Stock Exchange

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Home Depot eyes wholesale spinoff

Article Abstract:

Home Depot Inc. is planning to sell or spinoff its professional supply business to focus on retail stores. The weakening sales and profits are the main driving force behind company's decision.

Sales, profits & dividends, STONE, CLAY, AND GLASS PRODUCTS, United States, Mergers, acquisitions and divestments, Company acquisition/merger, Building materials industry, Company sales and earnings, The Home Depot Inc., HD, Company earnings/profit

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