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Walmart Bids for 51% Stake in South African Retailer

by Hugh Collins Nov 29th 2010 6:24AM
Updated Nov 29th 2010 8:53AM
Walmart (WMT) made an offer for 51% of the shares in South African retailer Massmart Holdings for 148 rand ($20.75) per share.

The offer represents a 19.2% premium over the 30-day weighted average price on Sept. 23, Walmart said in a statement. Sept. 23 was the final trading day before Walmart announced its initial offer.

"We continue to be excited by the opportunity to invest in Massmart's business and to accelerate its growth and expansion in South Africa," said Doug McMillon, CEO of Walmart International.

The offer is subject to approval by Massmart's shareholders and South African regulators. The documents related to the offer will be mailed to Massmart shareholders by Dec. 9.

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170 Comments

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twohair0314

walmart has ben about the money they dont care about the ameracan people thoes on unenploment they would rather save the allmighty dollar and buy from over seas than keep the econome were it should be. WALMART save you less should say WALMART rob you blind

December 05 2010 at 1:33 AM Report abuse rate up rate down Reply
Jon

Commie-mart spreading it's reign of power....

November 30 2010 at 1:37 AM Report abuse rate up rate down Reply
mantis

Wal*Mart is Un-American!!!

November 29 2010 at 11:18 PM Report abuse +1 rate up rate down Reply
its1luckycat

Without union's you would not HAVE liveable wages or union retirement or medical insurance.

November 29 2010 at 9:32 PM Report abuse -1 rate up rate down Reply
1 reply to its1luckycat's comment
patrickmiller06

most unions are a JOKE! nothing more than legal gangsters.. Ik now union guys who clock in and go home for 8 hours almost every day and drive back to clock out.. They do it, their bosses do it... UNIONS SUCK!!! bunch of fat drunk crybabies!!!

November 30 2010 at 12:14 AM Report abuse +2 rate up rate down Reply
rlpoppyno1

If the unions were all done away with the workers in our country would be working for nothing like most of the people in China and other countries like them.

November 29 2010 at 8:35 PM Report abuse -1 rate up rate down Reply
1 reply to rlpoppyno1's comment
mantis

Sh@#! Americans are making China rich by supporting Wal-Mart's GREED. Over 70% of products sold in Wal-Mart are made in CHINA. On the last FORBES list of the world's wealthiest people, HALF the people on the list in the Top 10 were in the Wal-Mart family! Wal-Mart destroys jobs, communities, and is selling us out to CHINA. I'll see you guys at the local Mom & Pop....or Target!

November 29 2010 at 11:07 PM Report abuse +1 rate up rate down Reply
whatsup gd

Sam is spinning in his grave. Walmart was built on the premise of everything sold would be American made. Walmart makes deals with suppliers which forces them to sell to Walmart at lower prices than they would normally sell for. If you dont then you lose your business. America can rebound if we were to build factories and supply the same things Walmart buys from China. The problem is and has been Unions. They ruined this country with their greed.We need to stop importing goods from China. Put Americans back to work for a reasonable salary without unions and make the products here. Lets stop making Sam so damn dizzy.

November 29 2010 at 8:15 PM Report abuse rate up rate down Reply
1 reply to whatsup gd's comment
patrickmiller06

If we did build factories in the USA the goods would be garbage cause most Americans are lazy slobs!!! Hate to say it but its true!!!

November 30 2010 at 12:17 AM Report abuse -1 rate up rate down Reply
Johnny !

Let them peddle their made-in-China, poisonous, poor quality items in another country. Get the hell out of the USA!!!!!

November 29 2010 at 8:01 PM Report abuse -1 rate up rate down Reply
chicagocubs84

Wal-Mart ain't going anywhere. Go CUBS.....

November 29 2010 at 7:41 PM Report abuse rate up rate down Reply
amcreed

If walmart leaves the US....how many more will be unemployed?? How much more will we have to pay if we don't have the price competition of Walmart? Be careful what you wish for.

November 29 2010 at 7:38 PM Report abuse -1 rate up rate down Reply
1 reply to amcreed's comment
CAE5877

Walmart does not have to leave the U.S. to help the American economy, just sell only products that are made in the U.S. and not China or other countries.

December 01 2010 at 8:47 AM Report abuse rate up rate down Reply
wayne

keith i hope its you job your shoping away to save that buck

November 29 2010 at 7:38 PM Report abuse +1 rate up rate down Reply
1 reply to wayne's comment
KEITH

huh, it's called spell check buddy. pretty sure every computer has one

November 29 2010 at 7:45 PM Report abuse +2 rate up rate down Reply