Realty Income (NYSE:O), a real estate company dedicated to providing shareholders with monthly income agrees to buy leading REIT American Realty Capital Trust Inc (ARCT) in an all-stock transaction worth $2.95 billion. Shareholders of ARCT will receive 0.2874 shares in Realty Income per share owned by them, this consideration being equivalent to $12.21 as per close prices prevailing yesterday.
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Disney (NYSE:DIS) moves to diversify into a new brand of baby products, and is set to open its first Disney Baby retail store in California, selling items such as its Peeking Pooh Premiere Crib Bumpers priced at $69.99.
AIG (NYSE:AIG) could raise as much as $2 billion by offloading its 18 percent in the Hong Kong AIA Group after the expiry of the lock-up period on the holding. The offer price is HK$25.75-HK$26.75 for the 60o million shares issue. AIG’s board also approves a share repurchase program of $5 billion.
August sales at Walgreen (NYSE:WAG) declined 4.5 percent y-on-y to $5.85 billion and comparable stores saw traffic fall 2.2 percent. The break-up with the Express Scripts pharmacy network cost 10.7 percentage points in comparable store prescriptions.
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