Alco declines alternate acquisition proposal
Coppell, Texas – Alco Stores, Inc. is not accepting an acquisition proposal from Everbright Development Overseas, Ltd., Luis Chang and Mai Wong. The Alco board of directors has determined that the proposal, tendered on Sept. 6, is not a superior proposal to a roughly $47 million offer the retailer received from Argonne Capital Group LLC on July 25.
Alco intends to file proxy materials with the Securities and Exchange Commission (SEC) that will detail the background of the company’s discussions with Everbright and its advisors, and the reasons that the board of directors of the company did not conclude that the Everbright proposal was a "Superior Proposal" under the terms of the Argonne merger agreement.
RILA names former GM exec as public affairs VP
Arlington, Va. –The Retail Industry Leaders Association (RILA) has named Annette Guarisco as executive VP for public affairs, effective Oct. 1. Guarisco will oversee RILA’s federal and state government affairs, as well as the association’s communications efforts.
Guarisco joins RILA following more than 11 years as a senior executive at General Motors, most recently serving as executive director of global public policy.
Guarisco replaces Katherine Lugar, who left RILA earlier this year to become president and CEO of the American Hotel and Lodging Association.
Adobe Target simplifies testing & targeting
San Jose, Calif. — Adobe Systems Inc. is upgrading Adobe Target, an element of the Adobe Marketing Cloud, with aims of easing the optimization of digital marketing efforts. The new solution features a completely redesigned, touch-based interface, as well as a step-by-step framework, with built-in best practices, for creating and implementing A/B testing and targeting activity.
In addition, a Visual Experience Composer enables marketers to create unlimited variations of content directly on a web page, a Custom Audience Library provides a central repository for creating and re-using audience segments for targeting, and enhanced core testing and targeting capabilities for mobile apps. Other new features include real-time interactive reporting and integration across the Adobe Marketing Cloud. The new Adobe Target is expected to be available by the end of September 2013.