British retailer WH Smith Plc said on Thursday it will buy Marshall Retail Group for about $400 million, betting that the American peer’s network of stores at U.S. airports will help boost profits soured by turmoil on the British high street. Business at WH Smith’s stores at airports and railway stations has been booming as the over 200-year-old company benefits from rising passenger footfall and new larger-format outlets. WH Smith said it would fund the all-cash deal for Marshall through a combination of 200 million pounds ($255.42 million) in new debt and a 155 million pound equity raise. …read more
Source:: Yahoo Finance
