Apple (NASDAQ:AAPL) announces the availability of the new 21.5-inch iMac from Friday Nov 30. through its online store, retail stores and authorized re-sellers. Stated to be the most advanced desktop ever made by Apple, it is housed in a glass-and-aluminium case measuring only 5mm at the edge. The new 27-inch iMac may be ordered through Apple’s online store and will ship in December. However, supply issues could plague deliveries, considering Tim Cook’s comment at the company’s last earnings call: “We will have a significant shortage here.”
Wal-Mart (NYSE:WMT) has terminated its relationship with an unnamed supplier who subcontracted work, without Walmart’s authorization, to the Tazreen Fashion apparel factory in Bangladesh, where over 100people died in a tragic fire. “The Tazreen factory was no longer authorized to produce merchandise for Walmart,” according to Kevin Gardner, a Walmart spokesman.
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ConAgra Foods (NYSE:CAG) announces its acquisition of Ralcorp Holdings (NYSE:RAH) for $6.8 billion including debt, and paying $90 a share, a 28.2% premium. Cost savings resulting from the acquisition could render it earnings accretive from the very first year, and create in the process the largest North American package foods company with approximate sales of $18 billion annually and more than 36,000 employees. The deal also means ConAgra becomes the largest private label packaged food business in North America with approximate sales of $4.5 billion.
Brown-Forman (NYSE:BF.B) announces a special cash dividend of $4.00 a share on its Class A and Class B common stock. The company is paying out the special dividend within calendar 2012 in view of the likelihood of hike in future dividend tax rates. The company also increased its regular cash dividend by 9.3%.