Industry News

Reliance Industries Ltd will expand its retail network to cover the entire country, going to towns where it does not have a physical presence, the company said. This is likely to be done using a hybrid online-offline model. "With multi-channel initiatives for grocery and apparel under its belt, Reliance Retail will extend its reach to cover the entire country much beyond the 500 towns where its physical stores are operational," the company said in its annual report."/>
Reliance Retail to expand beyond 500 towns [Mint, New Delhi]
Paul Foster ready to remake Plaza Hotel [El Paso Times, Texas]
Mattress Firm Holding Corp., the nation's largest mattress retailer, today announced that the Company and Steinhoff International Holdings N.V. have entered into a definitive merger agreement under which Steinhoff will, subject to the successful consummation of a cash tender offer and satisfaction of other customary closing conditions, acquire Mattress Firm for $64.00 per share in cash, which represents a premium of 115% over the Company’ s closing stock price of..."/>
Mattress Firm To Be Acquired by Steinhoff International for $64.00 Per Share in Cash
SPORTS Direct's acting finance chief, Matt Pearson, is employed on a contract with just eight weeks' notice and is paid pounds sterling 80,000 a year, it emerged on Friday. The FTSE 250 sportswear firm, run by billionaire Mike Ashley, has already faced criticism for having no permanent finance director and the terms of Pearson's contract have added to fears that the group is not taking the role seriously enough. 'In most big companies the chairman's driver would be on a contract..."/>
Sports direct finance boss paid just pounds sterling 80k [Financial Mail on Sunday, London]
Mattress Firm Holding Corp. has agreed to be purchased by South Africa-based furniture retailer Steinhoff International Holdings N.V. for USD 64.00 per share in cash, the company said. This deal represents a premium of 115% over the company's closing stock price of USD 29.74 on Friday, August 5, 2016. It represents a total equity value of approximately USD 2.4 bn and an enterprise value of approximately USD 3.8 bn, including net..."/>
US Retailer Mattress Firm Agrees to USD 3.8bn Buyout by South Africa’s Steinhoff International
Diversified Restaurant Holdings, Inc. plans to split into two separate, publicly-traded companies through the tax-free spinoff of its Bagger Dave's business to DRH stockholders, the company said. Diversified Restaurant is the largest franchisee for Buffalo Wild Wings and creator and operator of Bagger Dave's Burger Tavern. The company previously announced on May 24, 2016 that it was evaluating strategic alternatives for its..."/>
Diversified Restaurant to Spin Off Bagger Dave’s Restaurants But Alibaba's chief technology officer, Jeff Zhang, says it is also one of the best big-data companies in the world, with a scale of business that generates vast amounts of data and tentacles that reach into everything from social media to financing and payment, navigation to digital entertainment. "That's our competitive..."/>
Alibaba tech chief says it's looking far beyond retail [The Seattle Times]
ON SEMICONDUCTOR AGAIN EXTENDS TENDER OFFER FOR FAIRCHILD US-based chipmaker ON Semiconductor Corp. has again extended its tender offer to purchase all of the outstanding shares of common stock of US-based chipmaker Fairchild Semiconductor International Inc. for USD 20.00 per share in cash, this time until 18 August, the company said. All other terms and conditions of the offer remain unchanged."/>
M and A Navigator: Deal pipeline –8 August
IMAX Corporation and IMAX China today announced that Time Raiders, the 3 D adventure film from director Daniel Lee, debuted in China with approximately $5 million on 309 IMAX screens, making it the highest three-day summer opening weekend for a Chinese local-language film. Launching in China on Aug. 5, Time Raiders— a co-production between Shanghai Film Group, Le Vision Pictures, Nanpai Entertainment Co. and S&C Pictures Co., Ltd.— also now ranks..."/>
Time Raiders Scores Estimated $5 Million for Benchmark Opening at Chinese Box Office in IMAX® 3D Theatres

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