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Pfizer reiterates $118 billion bid for AstraZeneca was final offer

BY Michael Johnsen

NEW YORK — Pfizer on Monday reiterated that its bid on May 18 of $118 billion for AstraZeneca was the final offer on the table. 

Following the AstraZeneca board’s rejection of the proposal, Pfizer announced that it does not intend to make an offer for AstraZeneca.

“We continue to believe that our final proposal was compelling and represented full value for AstraZeneca based on the information that was available to us," stated Ian Read, Pfizer chairman and CEO. "As we said from the start, the pursuit of this transaction was a potential enhancement to our existing strategy. We will continue our focus on the execution of our plans, bringing forth new treatments to meet patients’ needs and remaining responsible stewards of our shareholders’ capital.” 

 

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ShopRite, P&G partner to bring Caroline’s Carts to ShopRite locations

BY Antoinette Alexander

KEASBEY, N.J. — ShopRite has teamed up with Procter & Gamble to bring Caroline’s Carts, specialized shopping carts created for special needs children, to more than 250 ShopRite stores across the Northeast.

Starting in June, Caroline’s Carts will be available at all ShopRite stores. An unveiling event with Drew Ann Long, founder of Caroline’s Carts, is scheduled for May 29 at the ShopRite of Woodbridge, N.J.

Long created the custom cart for her daughter Caroline, launching Caroline’s Carts in 2013. Also scheduled to attend the unveiling are representatives from P&G; Marc Edenzon, president and CEO of Special Olympics N.J.; and Special Olympics ambassadors Nadia Comaneci and Bart Connor.

 

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Target to test same-day delivery in select markets

BY Antoinette Alexander

MINNEAPOLIS — The online shipping war among retailers continues to heat up as Target plans to launch a same-day delivery pilot in June in select markets.

Target will launch a $10 rush delivery pilot in June in the Minneapolis, Boston and Miami markets, offering guests the ability to order as late as 1:30 p.m. in the afternoon and receive a delivery of qualifying items between 6 p.m. and 9 p.m. the same day, the company stated in its recent quarterly call with analysts.

Later in the year, Target plans to rollout standard shipping from 136 stores in 38 markets across the country. By leveraging the store network as fulfillment centers, it can offer faster, standard shipping — typically one to two days — and provide access to store only items not previously available from Target.com. The retailer stated that it will continue to monitor results to determine further rollout plans.

The retailer also stated that it continues to see “encouraging results” from its recent rollout of in-store pickup of digital orders. These orders make up about 10% of Target’s digital transactions and when guests pick up their items, more than 20% of the time, they take the opportunity to shop the store and spend much more than the average basket, the company stated. In the first quarter, Target expanded the number of SKUs eligible for in-store pickup to more than 60,000, including some shelf stable grocery items.

 

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