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Albertsons buyout bid looming
Three groups will wrap up preparations for their bids this weekend to buy Albertsons, the nation's No. 2 supermarket chain, says a report in The Financial Times. The long-struggling grocer, which seeks a deal, could fetch up to $16 bil. The bidders, which face a Tuesday deadline, include mostly private equity investors, plus some grocery rivals. Shares rose 2% to 24.16.
** Walgreens' same-store sales rose 7.8% in Nov., beating views of 7.1%. Front-end comps were up 8% while pharmacy comps rose 7.7%. Shares edged up 6 cents to 46.17.
** Ann Taylor, a women's clothing chain, was upgraded to a buy by Wedbush Morgan Securities. The analyst pointed to positive momentum and prospects for better margins. Shares rose 2% to 32.01.
** Gap's shares rose 2.5% to 17.79 after Lazard Capital Markets raised its rating on the struggling ...