Wal-Mart Plans $4.6 Billion Move for South Africa's Massmart

Wal-Mart Stores (WMT) is planning a $4.6 billion offer for South African retailer Massmart.

The deal would value Massmart at 148 rand ($21.10) a share, Bloomberg News said. That's 9.8% higher than the company's last closing price.

"We are continuing to deploy our strategy to accelerate growth and improve returns in our international business and this region of the world fits with our focus on large, high growth markets," Wal-Mart CEO Doug McMillon said in a statement.

Massmart has 290 stores in 13 African countries, with most stores located in South Africa.

The deal would be Wal-Mart's largest since 1999, when it bought U.K. supermarket chain Asda for about $11 billion.

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dhggifg

ahttp://www.wowougg.comin Daily Dose of Style In order to thank the support of new and old customers, we have launched promotional activities: Buy over 100 items to send beautiful plutonium Buy at least 200 to send beautiful T shirt Buy at least 300 to send exquisite handbags And so on, buy more more sent. http://www.wowougg.com http://www.wowougg.com #%#$^$#&#$&*#$#$&#$h

September 28 2010 at 9:55 AM Report abuse rate up rate down Reply
BERNIE/LOIS

Someone could start a business in Africa on how to shoplift.

September 28 2010 at 5:38 AM Report abuse rate up rate down Reply
ebarnish

Wonder what this will do to my stock?

September 27 2010 at 10:02 PM Report abuse rate up rate down Reply
rael216

There goes the neighborhood! But it will sell really cheap!

September 27 2010 at 5:51 PM Report abuse rate up rate down Reply
R L Baker

Now the Africans can have the wonder of Chineese made junk.

September 27 2010 at 1:37 PM Report abuse +1 rate up rate down Reply