Walgreen plans to buy drugstore.com for $429 million, expanding the online presence of the world’s largest drugstore chain. Drugstore.com shareholders will receive $3.80 a share, which is more than double the company’s closing stock price on Wednesday.
A sale of the British government’s $107 billion stake in Lloyds Banking Group and RBS may start next year, Bloomberg said, citing four people familiar with the matter.
Geothermal energy is likely to attract interest as investors rethink the outlook for nuclear power following the crisis in Japan, writes Leonora Walet and Tessa Dunlop. Japan sits on enough untapped geothermal power to replace all of its planned nuclear stations over the next decade, but the quake-prone country’s only plan to harness that energy’s potential is to develop hot springs.
Cheap valuations along with their respectable free cash flow and extensive real estate assets have made discount and dollar stores attractive targets for companies and private equity firms, and it looks like Wall Street can wring a few billion dollars more out of them, writes NR Sethuraman.
Dutch navigation and digital map maker TomTom, which is struggling with competition from offerings by Google and Nokia, is not looking to sell its mapping unit, denying a report it might consider a sale. TomTom exec Taco Titulaer told Reuters “our content assets are core to our strategy and product offering”.