Mergers & Acquisitions: Wal-Mart Goes on Safari, Acquires South African Massmart for $4.6 Billion

The nation's largest retail chain, Wal-Mart (NYSE:WMT), announced that it will enter the African market with the offer to acquire South Africa-based Massmart for $4.6 billion. Massmart, headquartered in Johannesburg, is one of the largest distributors of consumer goods on the African continent and is the leading African retailer of general merchandise, home improvement equipment and supplies. Doug McMillon, President and CEO of Walmart International, said, "Walmart's mission is to save people money so that they can live better lives. We believe this proposed acquisition is a great opportunity to deliver on that mission for all the people in the regions of the African continent where Massmart currently operates." SmarTrend is bullish on shares of Wal-Mart Stores and our subscribers were alerted to buy on July 13, 2010 at $50.39. The stock has risen 7.3% since the alert was issued.

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