New York (CNN Business)Walgreens Boots Alliance became the most recent addition to the Dow Jones Industrial Average in June 2018, when it replaced struggling conglomerate General Electric (GE) in America's most famous stock market indicator. Its Dow tenure may be among the shortest. KKR (KKR) has approached Walgreens about taking it over, Bloomberg reported Monday. If Walgreens (WBA) winds up getting bought out, the deal could be the biggest leveraged buyout ever. That news follows a Reuters report last week that said Walgreens was talking to private equity firms about a sale. If such a deal happens, that would mean Walgreens would no longer be publicly traded. In that event, S&P Dow Jones Indices, which selects the stocks for the Dow and S&P 500, would choose a new company to replace Walgreens. S&P Dow Jones Indices was not immediately available for comment about any possible changes to the makeup of the Dow. KKR reportedly wants to buy Walgreens in the largest … [Read more...] about Walgreens could leave the Dow. What should replace it?
New York (CNN Business)Walgreens reportedly wants to go private, and KKR is said to be interested in buying it. The acquisition would almost certainly be the largest private takeover in history. Shares of Walgreens Boots Alliance (WBA) surged 6% in early trading Monday on the report. According to Bloomberg, KKR has approached Walgreens about a deal. The buyout firm KKR is one of the world's largest private equity firms, and its leveraged buyout of RJR Nabisco was cataloged in the book, "Barbarians at the Gate." Walgreens currently is valued at more than $55 billion. Any deal would probably be done at a premium to that price — and also include the assumption of the $16.8 billion in debt the retail and pharmacy giant has on its balance sheet. According to merger research firm Dealogic, the largest private takeover ever was the $44 billion acquisition (including debt) of Texas utility company TXU by KKR (KKR), fellow private equity firm TPG and Goldman Sachs (GS) in 2007. TXU went … [Read more...] about Walgreens may get scooped up in the largest private equity deal in history, report says
Washington (CNN Business)American sneaker company New Balance welcomed President Donald Trump's tough trade stance in 2016 -- but now the athletic footwear manufacturer is strongly opposing the President's latest threat to expand tariffs on China. New Balance boasts that it's the only major company to make more than four million pairs of athletic shoes a year domestically. It has five New England factories, with one more expected to open next year. The catch? It needs to import component parts from China that are no longer made in the United States. "The proposed Tranche 4 tariffs will risk our company's overall financial health, which will in turn limit our ability to maintain and reinvest in our American factories," said a letter submitted by New Balance to the US Trade Representative's Office ahead of a hearing next week. Trump's new tariff threat could make iPhones, toys and shoes more expensive It's just one example of how many American corporations have built supply … [Read more...] about Why New Balance turned on Trump over China tariffs
LOS ANGELES (CBSLA.com/AP) — Amazon is buying Whole Foods in a deal valued at about $13.7 billion, a stunning move into brick-and-mortar retail that sets the stage for more radical store experimentation and intensified competition with grocery rivals. The deal unites the online juggernaut with the grocery store chain that fell behind as the organic and natural foods it helped popularize expanded to more locations and shoppers found “good enough” alternatives. Amazon already offers grocery-delivery services in five markets, but the Whole Foods purchase would let it expand to many more. Amazon also offers grocery shipments elsewhere, but that’s tough with perishable foods. The deal has the possibility to be “transformative,” Moody’s lead retail analyst Charlie O’Shea said in a note, “not just for food retail, but for retail in general.” The “implications ripple far beyond the food segment, where dominant players like … [Read more...] about What Amazon’s Purchase Of Whole Foods Could Mean To Grocery Industry
For years, viewers watched designer, author and Emmy Award-winning television personality Lisa Quinn make over rooms in countless Bay Area residences. On shows such as HGTV’s “Sensible Chic” and KPIX’s “Eye on the Bay” and “Evening Magazine,” she demonstrated that big style could come with a small price tag. As one might expect, budget-minded ideas abound in her own Alameda abode. And in Quinn’s household, decorating is definitely her purview. More Home Design Home DesignBy Erin FeherA quirky SoMa flat grows upHome DesignBy Erin FeherS.F. flat evolves with designer’s growing familyHome DesignBy Erin FeherHow couple redid their S.F. home (Hint: She’s a decorator) In explaining why her husband, Michael Orkin, allows her free rein, Quinn recalls the apartment he was living in when they met: “He had a giant rolled-arm sleeper sofa upholstered in a fabric with giant clocks — and not in a cool Salvador Dali … [Read more...] about Makeover pro’s big style on a sensible budget at home