TARGET BUYS ZELLERS FOR $1.8 BILLION DOLLARS!

Target is invading Canada.

The mega-chain, which presently has 1,700 stores in the U.S., has announced that it will pay the Hudson Bay Co. $1.8 billion to take over the leases of 220 Zellers stores, Reuters reports.

Zellers is a discount retail chain with more than 250 locations all over Canada.

Target will convert 100 to 150 of those Zellers locations to Target stores in 2013 and 2014 and sell the rest of the current Zellers network of store leases to other retailers.

That could mean Target will be selling off the mega-store space to Walmart or Kohls or anyone they want.


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