Wal-Mart Drops Marginally; Announces Its Acquisition Of Massmart

Wal-Mart Stores, Inc. (NYSE:WMT) shares are currently trading at $53.50, a drop of 0.45% from previous closing price of $53.74. The company's shares have 52-week trading range of $56.27 – $47.77. The stock is trading at volume of 289,313 shares. The market capitalization of the company is $ 194.55 billion. The 1-year target estimate is $61.00. Today, the company announced its acquisition of 51% of the shares of Massmart Holdings Limited for ZAR148 per Massmart ordinary share. The Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity. The offer represents a 19.2% premium to the 30-day weighted average price on September 23, the last trading day prior to the indicative offer announced on September 27, 2010 and has been unanimously recommended by the Massmart Board of Directors. Wal-Mart operates retail stores in three business segments: Walmart U.S., International and Sam's Club. Wal-Mart Stores, Inc. (NYSE:WMT) shares are currently trading at $53.50, a drop of 0.45% from previous closing price of $53.74. The company's shares have 52-week trading range of $56.27 – $47.77. The stock is trading at volume of 289,313 shares. The market capitalization of the company is $ 194.55 billion. The 1-year target estimate is $61.00. Today, the company announced its acquisition of 51% of the shares of Massmart Holdings Limited for ZAR148 per Massmart ordinary share. The Massmart will continue to trade on the JSE Limited to provide Massmart shareholders with the ability to participate in the growth opportunity of the combined entity. The offer represents a 19.2% premium to the 30-day weighted average price on September 23, the last trading day prior to the indicative offer announced on September 27, 2010 and has been unanimously recommended by the Massmart Board of Directors. Wal-Mart operates retail stores in three business segments: Walmart U.S., International and Sam's Club. Disclaimer: The assembled information distributed by epicstockpicks.com is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Epicstockpicks.com does expect that investors will buy and sell securities based on information assembled and presented herein. EpicStockPicks.com will not be responsible in any way for or accept any liability for any losses arising from an investor's reliance on or use of information obtained from our website or emails. PLEASE always do your own due diligence, and consult your financial advisor.
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