WALTON TRUST SELLS WALMART SHARES
The Walton Family Holdings Trust sold $256 million of Walmart Stores Inc. as shares hovered around highs for the year.
The trust unloaded 3.5 million shares at prices ranging from $72.45 to $74.28 on Aug. 19 and 22, according to a regulatory filing. Those transactions follow $104 million of sales at the end of June at prices between $70.67 and $71.86. Shares of the retailer have climbed this year after closing at a four-year low of $56.42 in November.
Walton Enterprises LLC, the family’s main investment entity, distributed about 6 percent of the shares to the trust in April 2015. The trust now owns about 170 million shares of the business, the filings show. That’s a fraction of the 1.4 billion shares held by Walton Enterprises. Together the two entities own 51 percent of the retailer.
Colorado Springs tech buildings near foreclosure. Wells Fargo Bank is
seeking foreclosure of a $28.3 million loan on a twobuilding complex in the InterQuest Corporate Campus that houses Quantum Corp. and Cherwell Software, in the county’s largest such filing in seven years.
The bank is acting as trustee for the Wachovia Bank Commercial Mortgage Trust, which issued securities backing that and loans on other commercial property. The foreclosure is the largest handled by the trustee’s office since Hillcrest Bank foreclosed a $29 million loan in 2009 to Morley-Howard Investments LLC.
Pfizer on buying spree.
Drugmaker Pfizer Inc. is continuing its shopping spree with its fourth acquisition since the April collapse of its planned $160 billion megadeal to buy rival Allergan PLC.
In its second deal this week, Pfizer said it’s buying rights to Anglo-Swedish drugmaker AstraZeneca PLC’s portfolio of approved and experimental antibiotic and antifungal pills. The deal is valued in excess of $1.5 billion, including rights to sell the medicines in most countries outside the U.S., royalties and other payments.
Stalling trouble forces Ford recall. Ford is recalling
more than 88,000 cars and SUVs in North America because the engines can stall without warning due to a fuel pump problem.
The recall covers certain Ford Taurus and Police Interceptor sedans, Ford Flex wagons, Lincoln MKS sedans and Lincoln MKT SUVs from the 2013 through 2015 model years.