Santiago, Chile Wal-Mart launched on Tuesday its $2.66 billion tender offer for all of the issued and outstanding shares, including American Depositary Shares, of Chile's leading supermarket D&S.
The offer was for 40.8 cents a share of D&S, and $24.48 per ADR, equivalent to 60 D&S shares each.
Holders of stock will have from midnight local time on Dec. 24 through midnight on Jan. 22 to accept the offer.
If completed, the deal would give Wal-Mart a foothold in Chile’s highly competitive retail market. Santiago-based D&S is Chile's largest grocery chain, with more than 140 locations.