Financial News

CAMBRIDGE, Mass. — Biotech company Genzyme is selling its diagnostics business to Sekisui Chemical for $265 million, Genzyme said Thursday.

Under the deal, Sekisui will purchase the diagnostics business’ assets, including product lines and technologies, and offer employment to its 575 employees while maintaining operations in all of its current locations.

CHESAPEAKE, Va. Dollar Tree on Wednesday announced that it has completed its purchase of the assets of 86 Dollar Giant stores for approximately $52 million in cash, plus the assumption of certain liabilities.

This marks Dollar Tree's first expansion of retail operations outside of the United States.

JACKSONVILLE, Fla. A provider of self-service kiosk solutions has inked a definitive agreement to acquire an operator of unattended DVD rental kiosks.

DOWNERS GROVE, Ill. — The European Commission has approved the sale of Sara Lee's global body care and European detergent businesses to Unilever, provided that Unilever divest the Sanex brand of bath and body products in the European market after it acquires the business from Sara Lee.

The global body care and European detergent businesses encompass such brands as Sanex, Radox and Duschdas. The transaction was originally announced in September.

NEW YORK — Soft housing prices drove down the Deloitte consumer spending index for the month of October, Deloitte said Wednesday.

The index, which is comprised of four components — tax burden, initial unemployment claims, real wages and real home prices — fell to 4.63%, from an upwardly revised gain of 4.84% a month ago.

But Deloitte said that the drop is no reason to give up hope on the holiday season.

NATICK, Mass. BJ’s Wholesale Club reported net income of $23 million, or 43 cents per diluted share, for third quarter 2010. For third quarter 2009, the company reported net income of $17.4 million, or 32 cents per diluted share.

Net sales for the third quarter increased by 4.8% to $2.57 billion from $2.45 billion in the prior year period. Comparable-club sales for the quarter increased 2.5%. Excluding the impact of fuel, comparable-club sales increased 1.5%.

ST. LOUIS Energizer Holdings has obtained U.S. antitrust clearance for the acquisition of American Safety Razor.

The waiting period for the antitrust review under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 has expired. Clearance from regulatory authorities in Germany and Taiwan now must be satisfied before closing.

Energizer stated that it will continue to seek clearance from those authorities in advance of the Nov. 23 deadline in the Asset Purchase Agreement between Energizer and ASR.

BENTONVILLE, Ark. Weak sales trends continued at Walmart’s U.S. stores division during the third quarter as same-store sales declined 1.3%; however, the company managed to meet analysts’ third-quarter earnings per share target of 90 cents.

Inclusion of a five cents a share tax benefit resulted in third-quarter earnings per share of 95 cents and caused the company to raise the full-year profit forecast to a range of $4.08 to $4.12 from $3.95 to $4.05.