Wal-Mart Taking the Rest of D&S

Wal-Mart says it will seek to buy the remaining shares of Chilean retailer D&S that it did not acquire in its initial tender offer, where it purchased 58.3% of the company. Wal-Mart intends to make the purchase on February 24 under the same terms of the original tender offer of $0.408 per common share and $24.48 per ADS. The previous majority owners of D&S will retain a 40.1% stake. The D&S shares, Wal-Mart says, will be pulled from the NYSE. Common shares will only trade on Santiago’s stock exchange.