APinnews.Dallas.12.29.01.
China's first move, immediately after President Bush signed the executive order admitting China as permanent trade partner today, was to make an offer to acquire Walmart at an undisclosed price. A spokesman for the SEC, who spoke on conditions of anomynity, said, "this is a viable opportunity for Corportate International to consolidate operations."
Bob Bixby, a public relations spokesperson for Walmart said, "They're making an offer that we can't refuse. This is a very advantageous move for the American public as well, [b]since 87% of our products are already from China[/b] the public will enjoy greater savings with the elimination of middleman markups. It will be the first direct to the public world market, and we are very excited.
There was some speculation that the name Walmart that has enjoyed so much success and loyalty from the American public will be renamed, Chimart.
In market news today, Walmart is the only major chain that had a successful Christmas season with a 10% improvement in sales over the previous quarter.
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