Rite Aid Corporation and Albertsons Companies announced on Wednesday they are terminating their merger agreement the evening ahead of a shareholder vote over the deal. The $24 billion deal, announced in February, has faced push-back from a number of retail investors as well as top ten shareholder Highfields Capital Management. Critics have argued the deal
The burger chain Jack in the Box has drawn criticism for its new TV commercial, which features not-so-subtle references to male genitalia. The ad for the company’s new Teriyaki Bowls riffs off the word “bowls” and how similar it sounds to a slang term for testicles. The ad’s wink-wink attitude during a time when many
The American Medical Association, which represents U.S. physicians, urged the U.S. Justice Department on Wednesday to stop CVS Health‘s plan to buy insurance provider Aetna, saying the deal could result in higher prices for prescription medicines. The AMA said that the $69 billion deal, announced in December, would lead to a “substantial reduction” of competition
Avis Budget shares dropped on Wednesday after reporting a full-year revenue forecast below estimates. Shares of the rental car company fell as much as 14 percent after the company said it expects full-year revenue between $9.05 billion and $9.3 billion. Analysts were expecting revenue of $9.27 billion for the year, according to Thomson Reuters. Avis
As Mattress Firm reportedly mulls filing for bankruptcy in order to get out of leases and shutter stores, online start-up Casper is planning to open 200 locations within the next three years across the U.S. Casper opened its first permanent store, in New York, earlier this year. CEO Philip Krim told CNBC at the time
This spring’s large E. coli outbreak caused by tainted romaine lettuce may have been caused by a large industrial farm. That’s according to a new Food and Drug Administration hypothesis. A concentrated animal feeding operation, or CAFO, is near a canal whose water came in contact with the affected romaine lettuce from the Yuma, Arizona,