FINANCE

Limited Launches E-Commerce Site

BY CSA STAFF

Columbus, Ohio The Limited announced Tuesday it will debut an online store, entering the e-commerce trade for the first time.

Under the ownership of private-investment firm Sun Capital Partners, Inc., The Limited will launch the first-ever online store, www.thelimited.com, carrying what the company says will be a full selection of in-store apparel, as well as extended sizes, an outfitting guide and a store locator.

After becoming independent from Limited Brands Inc. in 2007, the creation of an e-commerce site was one of The Limited’s first major business objectives, the company said.

The online store will replace the previously offered “Limited Delivers” program which located styles and sizes at store locations and delivered them to the customer’s home.

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Walgreens throws hat into Longs buyout ring

BY CSA STAFF

DEERFIELD, Ill. Walgreens has proposed to acquire all of the outstanding shares of Longs Drug Stores for $75 per share in cash for a total purchase price of approximately $3 billion including the assumption of debt. The offer, which is subject to standard regulatory approvals and the completion of due diligence, represents a $3.50 per share premium over the cash purchase price to be paid to Longs shareholders under the proposed acquisition by CVS/Caremark announced on Aug. 12.

“We believe the combination of Walgreens and Longs is a highly compelling transaction that is superior to the pending transaction with CVS/Caremark, accelerates Walgreens expansion into high growth markets and delivers meaningful cost synergies,” said Walgreens chairman and ceo Jeffrey Rein.

Walgreens is working with Lubert-Adler Management Company, LP and Klaff Realty, LP to address any potential store sales in connection with the transaction.

Goldman, Sachs & Co. is serving as financial advisor to Walgreens on this transaction, and Weil, Gotshal and Manges LLP is serving as its legal advisor.

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Netflix, Amazon to run widgets on Yahoo!

BY CSA STAFF

SUNNYVALE, Calif. Yahoo! is allowing companies like Apple and Netflix to add widgets to its pages enabling users to manage their queue of movies from those company without leaving the Yahoo! page they’re on.

According to reports, the changes, which are the first major alterations to Yahoo’s pages in more than two years, will take place over the next few months.

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