business news in context, analysis with attitude

• Sears Canada management has urged its shareholders to reject a $700 million buyout offer from US parent company Sears Holdings, saying that the offer undervalued its assets and projections.

• The Wall Street Journal reports that Muhtar Kent, Coca-Cola’s new chief of international operations, “said the beverage giant's flagship sodas can still generate considerable growth while ‘targeted acquisitions’ of noncarbonated brands remain part of the company's strategy.

Kent “cited the emerging markets of China, Russia and Turkey as models for Coke's future growth in both core sodas and noncarbonated drinks,” according to the WSJ.

• Winn-Dixie reported has asked the bankruptcy court overseeing its finances for more time before filing its reorganization plan.
KC's View:
Winn-Dixie is reported in some places to have asked for 30 days, but MNB is investigating whether the phrase “when hell freezes over” was ever uttered by the chain’s attorneys.