WBEN Buffalo Business Report - Friday, August 10th 2018

Randy Bushover
August 10, 2018 - 4:31 am

Albertsons has backed out of its plan to acquire U-S drugstore chain Rite Aid through a multibillion-dollar takeover.  The Financial Times reports that just hours before a stockholder vote on the deal, which would have created a food and drugs retail powerhouse with $83 billion in annual sales, the two companies said they had instead decided to go it alone.  Private equity group Cerberus Capital Management owns Albertsons - and had been pushing for the deal.

Toronto investor Jeff Wynn apparently has big plans for the Athletic Club Building,overlooking Niagara Square.  According to Business First, Wynn  may add a level of underground parking to the building.  He's also considering purchasing or developing other downtown Buffalo buildings and bringing at least one of his Wynn Fitness Clubs into the suburbs.

 ATTO Technology, Inc., a computer technology manufacturer based in Amherst, NY, is celebrating 30 years of innovation and success.

Buffalo-based investment advisory firm Pratt Collard Advisory Partners, LLC is changing its name.  With the addition of W. Lawrence Buck as Chairman, the company will now go by Pratt Collard Buck Advisory Group. 

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