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•  Walmart said this morning that it has reached an agreement to buy the 47 percent of South African retailer Massmart that it does not own for about $377.6 million, a number that is a 53 percent premium over the stock's closing price on Friday.

Bloomberg writes that "Walmart is preparing for increased competition amid press reports that Inc. is planning to expand into Africa’s most-industrialized nation. Taking Massmart private may help Walmart cut costs and invest in the company," which has been a losing proposition for the company.  Walmart acquired majority control over Massmart a dozen years ago.

Bloomberg also reports that "Jonathan Molapo, who joined Massmart in January as COO will take over as chief executive officer a year after he joined the company. He replaces Walmart veteran Mitchell Slape."