U.S. firm scraps purchase of Moores

Article Abstract:

Men's Wearhouse Inc., a Fremont, CA-based retailer, has withdrawn its bid to purchase Moores Retail Group Inc. of Montreal, Quebec, in Canada, in a stock deal valued at about $7.2 million due to the declining stock market. Men's Wearhouse previously announced its intention to buy Moores and its other related businesses as Moores The Suit People chain in August 1998. Men's Wearhouse was willing to buy Moores with 2.4 million shares and the assumption of its C$87-million debt. Reportedly, Men's Wearhouse stock price has declined from $30.12 in August 1998 to $16.12 in October 1998.

Comment:

Withdraws its bid to buy Moores Retail Group in a stock deal valued at about $7.2 mil due to the declining stock market

California, Males' Clothing, Retail, Men's Clothing Stores, Men's Wearhouse Inc., Article, Moores Retail Group

---

Chapters looks to spin off Net business as separate public firm

Article Abstract:

Bookstore chain Chapters Inc of Toronto, Canada, is planning to spin off its Internet business as a separate public company, with the book retailer as the majority owners. The company has launched a separate electronic commerce Web site, Chapters.ca, which would allow users to access more than 400,000 titles for next-day delivery. The site, which will complement the book Internet site ChaptersGlobe.com it formed in Oct 1998, will also offer videos, CDs, and software programs.

United States, Chaptes Inc.

---

Ivanhoe eyes Eaton's downtown Montreal site

Article Abstract:

Real estate company Ivanhoe Inc has announced its interest in acquiring some of T Eaton Co Ltd's stores including the prized location in downtown Montreal. The company is the real estate arm the Caisse De Depot et Placement du Quebec, which is the majority shareholder of of one of Eaton's largest landlords, Cambridge Shopping Centres Ltd. Other companies which expressed interests in acquiring the Montreal store are Sears Canada Inc and Les Ailes de la Mode.

Department Stores, Real Estate, Real Estate and Rental and Leasing, T. Eaton Company Ltd.

Similar abstracts:

• Abstracts: U.S. giant plays it cool on Loewen. Weyerhaeuser says it needs MacBlo to compete. Loewen cemeteries to be sold for $193-million
• Abstracts: Gates firm focuses on future of photo images. 3Com rethinks mode of profit beyond modems. Microsoft unloads Sidewalk Web sites
• Abstracts: Alberta power users fight TransAlta's plan for exports. Former Hurricane CEO defends his track record
• Abstracts: Manulife launches Japanese deal. Manulife set to announce deal with Japanese insurer
• Abstracts: Rival snubs Philip scrap-metal assets. Groupe Videotron sells U.S. cable units. Shaw seeks buyer for Headline Sports channel stake

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.