Hope to be open by February 2013: Bass Pro Shops is negotiating to be the anchor tenant of a mixed-use development in New Orleans, reports The Times-Picayune. The outdoor retailer, which has stores in Denham Springs and Bossier City, is looking at building in the Market Street power plant project. Developers hope to turn an abandoned power plant near the Ernest N. Morial Convention Center into a center with retail, restaurants and hotel rooms. The Times-Picayune says one of the conditions of the deal would be to open Bass Pro in time for the 2013 Super Bowl, slated to be played in the Superdome in February.
Deal will boost chain’s online offerings: Drugstore operator Walgreen Co. says it will spend about $429 million to buy online retailer drugstore.com in a deal that gives it access to 3 million online customers. The largest U.S. drugstore operator will give drugstore.com shareholders $3.80 in cash for each share of stock in a deal it expects to close by the end of June. The acquisition will add about 60,000 products to Walgreen’s online offerings, and the company says it will significantly speed up its online strategy. Walgreen says it will fund the deal with existing cash. Drugstore.com shareholders still must approve the acquisition, but the Bellevue, Wash., company’s board has already unanimously approved it.
