Wal-Mart is the only company in the Dow 30 to see gains in its stock price this year. And with seemingly everyone else cutting back, the Bentonville, Ark.-based retailing monolith continues to grow. And why not? After all, tough economic times are a boon to Wal-Mart, as American consumers seek out cheap deals.
Even with M&A deals at record-setting lows amid the still-unfolding credit crisis, Wal-Mart has forged onward. Case in point: The company’s announcement on Dec. 19 of its $2.7 billion offer for Chilean supermarket chain Distribución y Servicio D&A. And Wachtell, Lipton, Rosen & Katz is the lucky firm that’s locked up the high-end M&A work for Wal-Mart.
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