Tonernews.com, November 7, 2008. USA
http://money.cnn.com/news/newsfeeds/articles/djf500/200810291807DOWJONESDJONLINE001006_FORTUNE5.htm
Office Depot De Mexico Rejects Gigante Acquisition Offer
MEXICO
CITY – Mexican retailer Grupo Gigante SAB (GIGANTE.MX) said Wednesday
that its joint-venture partner Office Depot Inc. (ODP) rejected
Gigante’s offer to buy the 50% it doesn’t own of Office Depot de
Mexico.Gigante said in a filing with the Mexican Stock Exchange that it
is continuing discussions with Office Depot to further consolidate and
expand.
The acquisition offer was presented July 30.Gigante’s shares
didn’t trade Wednesday, but closed 0.2% lower at 12.58 pesos ($0.97) in
the previous session.
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MEXICO
CITY – Mexican retailer Grupo Gigante SAB (GIGANTE.MX) said Wednesday
that its joint-venture partner Office Depot Inc. (ODP) rejected
Gigante’s offer to buy the 50% it doesn’t own of Office Depot de
Mexico.Gigante said in a filing with the Mexican Stock Exchange that it
is continuing discussions with Office Depot to further consolidate and
expand.
The acquisition offer was presented July 30.Gigante’s shares
didn’t trade Wednesday, but closed 0.2% lower at 12.58 pesos ($0.97) in
the previous session.