Wal-Mart trumps Sir Geoff with knockout bid for Asda

Article Abstract:

There could be a number of mergers and cross-border deals among supermarket operators following the unexpected 6.7 billion pounds sterling agreed bid by Wal-Mart for Asda. This is the largest foreign takeover of a UK retailer, and is forecast to prompt a fierce round of price competition. The deal will prevent Kingfisher from going ahead with its planned 17 billion pounds sterling merger with Asda. Wal-Mart has stated that it intends to allow existing Asda managers to retain control of the company.

United Kingdom, Asset sales & divestitures, Acquisitions & mergers, Supermarkets and Other Grocery (except Convenience) Stores, Supermarkets, Supermarket Chains, All Other Specialty Food Stores, Discount Stores, Mergers, acquisitions and divestments, ASDA, Wal-Mart Stores Inc.

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'I abolished our former high-prices policy.'

Article Abstract:

Openness and honesty are very important, according to toy retailer Hamleys Chief Executive Simon Burke. He feels that it is vital to develop and express a vision for a business.

Hobby, Toy & Games Stores, Hobby, Toy, and Game Stores, Hobby, toy, and game shops, Officials and employees, Interview, Toy stores, Burke, Simon, Hamleys PLC

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