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FTC Clears ChoicePoint Takeover
ChoicePoint said the Federal Trade Commission ended the waiting period for its $3.6 billion acquisition by Reed Elsevier Group.
London-based Reed Elsevier, owner of the LexisNexis information service, agreed to buy ChoicePoint in February. ChoicePoint stockholders approved the deal in April.
ChoicePoint, which collects, sells access to, and analyzes the personal information of consumers, will become a unit of Reed's LexisNexis Risk & Information Analytics Group. The acquisition is expected to close Friday.
EARNINGS
Best Buy said its second-quarter profit slid 19 percent compared with the corresponding period a year earlier, to $202 million, as it spent money completing the rollout of its Best Buy Mobile cellphone concept to nearly 1,000 North American stores. Revenue rose 12 percent, to $9.8 billion, as consumers bought more flat-panel TVs, laptops and cellphones.
Kroger, the nation's largest traditional grocery chain, said that its second-quarter profit rose 3.4 percent, to $276.5 million from $267.3 million in the comparable period a year earlier. Revenue rose 12 percent to $18.1 billion.
Compiled from reports by Washington Post staff writers, the Associated Press and Bloomberg News.
