Ann: Expansion of US Retail Distribution, page-28

Agree - I am not a fan of Acquisitions. The reality is that most fail, especially going from private businesses into public companies. I recall working for one major listed company that accepted that only 3/10 acquisitions succeed. But because those 3 did so well, it compensated for the remaining failures. But what it means is that a single acquisition has a high chance of failure.
So I hope they don't go down this path!