Mergers and Acquisitions Recap: Wal-Mart and GameStop Look Across the Pond

British gaming retailer GAME is operating under adverse conditions, but the company is on the short list of both Wal-Mart (NYSE:WMT) and GameStop (NYSE:GME) for purchase, according to industry site MCV. GameStop is said to be waiting for GAME’s bankruptcy to occur first, but now that Wal-Mart is in the picture, that plan could quickly change.

Investors react well to a suggestion from Credit Suisse that a Walgreen (NYSE:WAG) acquisition of Rite Aid (NYSE:RAD) is just what the doctor ordered. The analyst notes that such an event would help the latter drugstore chain with its disputes with Express Scripts and CVS, plus assuaging problems with its reimbursement rate. Chances of such a purchase are given as about one in three. Analysts opine that the possible deal would generation the right synergies, and that the Justice Department would likely approve the combination as well.

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American suppliers of digital imagery GeoEye (NASDAQ:GEOY) and DigitalGlobe (NYSE:DGI), are said to be on the shopping list of Astrium, Europe’s leading space company, which says it’s “generally interested” in buying either firm. Further, EADS, Astrium’s parent company, is currently searching for takeover targets in the U.S. as well.

Home health and hospice services supplier LHC Group (NASDAQ:LHCG) has suffered several reversals in fortune recently, including adverse effects from new Medicare regulations, cuts in reimbursements, and a federal inquiry into its billing practices. Reports emerging now from Reuters suggest that private equity firm TPG Capital is considering making an offer for the struggling firm.

Human Resources Management Systems has been purchased by Insurance concern Arthur J. Gallagher (NYSE:AJG), in a deal that the company says will strengthen its client base, and augment its employment benefit insurance offerings. The money involved in the acquisition was not disclosed.

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To contact the reporter on this story: Mark Lawson at staff.writers@wallstcheatsheet.com

To contact the editor responsible for this story: Damien Hoffman at editors@wallstcheatsheet.com