Four billion dollars doesn't count as an "every day low price", but Wal-Mart, the world's biggest retailer, hopes it has found a bargain. That is how much ($4.1bil-lion to be precise) the Arkansas-based "Beast of Bentonville" has offered to acquire Massmart, a retailer with 288 stores in 14 countries in sub-Saharan Africa. On September 27th Massmart's management confirmed it is in exclusive negotiations to sell the South African-based firm to Wal-Mart. The deal is being overseen by Andy Bond (pictured above), who ran Wal-Mart's British arm, Asda. As Massmart's shares initially traded above the offer price, it suggests some investors think there may be other bidders, and that Mr Bond might have to come up with some more money to clinch the deal.
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