TOP NEWS
* Greene King PLC recommended an all-cash takeover offer from Hong Kong-based property investor CK Asset Holdings Ltd. that values the U.K. pub company at £2.7 billion.
* Juul Labs Inc. raised $325 million in an equity and debt offering, according to an SEC filing. The U.S. e-cigarette maker plans to use the funds to increase its global presence amid tightening regulatory pressure in its home market, Reuters reported.
FOOD RETAIL & DISTRIBUTION
* Supermarket operator Kroger Co. and pharmacy chain Walgreens Boots Alliance Inc. said they will expand their experimental store format, announced in 2018, to Knoxville, Tenn. The companies will add Kroger Express fill-in grocery stores to 35 Walgreens sites and stock Walgreens' owned-brand health and beauty products in 17 Kroger stores.
* Seven & i Holdings Co. Ltd.'s overseas unit 7-Eleven said it added a new mobile checkout feature to its app, allowing users in New York City to avoid the cashier and pay for items directly on their phones.
* U.K. caterer CH&Co Catering Group Ltd. is acquiring MITIE Catering Services Ltd, a unit of Mitie Group PLC, for a consideration of up to £85 million.
* Walmart Inc. and Buzzfeed Inc. launched a "shoppable recipes" feature that enables viewers of the online media company's Tasty platform to add ingredients directly to their Walmart online grocery carts.
* Casino Guichard-Perrachon SA amended the terms of the simplification of its Latin American operations, increasing the offer price for the stake in its Brazilian subsidiary Companhia Brasileira de Distribuição held by its Colombian unit Almacenes Éxito SA to 113 Brazilian reais from 109 reais.
* Casino's board approved a new round of asset disposals in France for a target amount of €2 billion by the end of the first quarter of 2021. The retailer aimed for €2.5 billion worth of sales for the first stage of its plan, of which €2.1 billion have been agreed to date.
* J Sainsbury PLC recorded the smallest sales drop of the four major U.K. supermarket chains in the 12 weeks to Aug. 11, Reuters reported, citing data from Kantar. Sainsbury's 0.6% fall in sales compared to declines of 1.6% at Tesco PLC, 1.5% at Walmart-owned Asda Stores Ltd. and 2.7% at Wm Morrison Supermarkets PLC.
TOBACCO & SMOKING PRODUCTS
* Legal charges were filed in the U.S. District Court for the Northern District of Illinois against Juul Labs Inc. and Philip Morris USA Inc., accusing the companies of using "fraudulent and deceptive" youth marketing practices that allegedly violate racketeering laws. Altria Group Inc., the parent company of Philip Morris USA and an investor in Juul, was also named in the complaint. A Juul spokesperson told S&P Global Market Intelligence in an email that its products have always been intended only as an alternative for cigarette smokers, while spokespersons for Philip Morris and Altria could not be reached.
* Canadian cannabis products maker NewLeaf Brands Inc., formerly known as New Age Brands Inc., said it signed a letter of intent to acquire around 400 acres of ranch property in Pottus, Texas for $1.3 million.
PACKAGED FOODS
* Meal-kit company HelloFresh SE will offer Beyond Meat Inc.'s plant-based Beyond Burger in the U.S., starting the week of Sept. 14.
* The U.S. Commodity Futures Trading Commission pulled statements posted on its website that were deemed to be in violation of the agency's settlement with Mondelez International Inc. and The Kraft Heinz Co., the Financial Times reported. The financial regulator on Aug. 15 fined the two consumer goods giants $16 million to settle claims that they fixed wheat prices in mid-2011. The agreement included an unusual provision censoring what the agency could say in public about the case, the report said.
* Cannabis company Aurora Cannabis Inc. completed its C$63.4 million, all-share acquisition of hemp food products manufacturer Hempco Food and Fiber Inc.
RESTAURANTS
* Jollibee Foods Corp. announced leadership changes at Smashburger, the burger chain it fully acquired in December 2018, including the promotion of COO Carl Bachmann to president.
The day ahead
Early morning futures indicators pointed to a mixed opening for the U.S. market.
In Asia, Hang Seng dropped 0.23% to 26,231.54, while the Nikkei 225 gained 0.55% to 20,677.22.
In Europe, around midday, the FTSE 100 climbed 0.43% to 7,220.27, and the Euronext 100 rose 0.07% to 1,045.99.
On the macro front
The Redbook Index for retail sales is due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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