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Ackman takes “passive” stake in Family Dollar

BY CSA STAFF

New York — Bill Ackman, the founder of Pershing Square Capital Management, has taken a “passive” stake in Family Dollar Stores, Bloomberg reported. Ackman, speaking at the Ira Sohn Conference in New York, said he invested in Family Dollar Stores because it’s “very reasonably priced” and may be acquired.

“It’s a good business, it’s done very well for a long time,” he said, according to the report. “It’s an attractive LBO transaction.”

In March, Family Dollar rejected a takeover offer from Nelson Peltz’s Trian Fund Management LP in March, saying it “substantially” undervalues its business, and adopted a defense to discourage unsolicited offers.

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A&P sells 12 Superfresh stores, to close 13 others

BY CSA STAFF

New York —The Great Atlantic & Pacific Tea Company (A&P), which is working its way through Chapter 11, will close 13 Suprefresh stores in the Baltimore area in July because it can’t find anyone to buy the properties, The Baltimore Sun reported.

A&P announced in April that it was looking trying to sell 25 Superfresh stores, mostly in the Baltimore area. It announced earlier this week it had found buyers for 12 locations, and notified the bankruptcy court in New York on Wednesday. The company said it should generate more than $40 million from the sale of the stores.

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Mega Brands to create Thomas & Friends construction sets through renewed licensing deal

BY CSA STAFF

MONTREAL — Mega Brands announced that it has extended its licensing agreement with Hit Entertainment to develop construction sets based on Thomas & Friends.

Under the expanded contract, Mega Brands is granted the global rights to create all-new construction toy sets based on the exciting world of Thomas & Friends, including new iconic characters and Island of Sodor destinations straight from the popular long-running television series, according to a press release.

"The Mega Bloks Thomas & Friends building sets have been very successful and we look forward to our continued relationship with HIT Entertainment," said Vic Bertrand, chief innovation officer of MEGA Brands. "We’re delighted to bring these beloved characters and adventures to life for children and families to enjoy."

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