BENTONVILLE, Ark. (FNS) -- Wal-Mart here began its $1.2 billion tender offer last week to buy a controlling interest in its Mexican joint-venture partner, Cifra SA de CV.
ansion in Mexico.
Retail analysts noted that Wal-Mart has the cash flow to fund expansion in Mexico, where growth outpaces U.S. growth.
Under the offer, Wal-Mart plans to buy 593 million shares, priced at $2.03 each, of Cifra SA de CV. The tender offer expires Aug. 22.
Upon completion of the