Li & Fung Goes on an Acquisition Spree
The big supplier to U.S. retailers reduces its stateside reliance
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By Bloomberg News
Li & Fung, the world’s biggest supplier of goods to retailers including Wal-Mart, Toys “R” Us, and Kohl’s, had an upbeat story to tell when it announced results for the first half of the year on Aug. 11. Profit had dropped only 15 percent, the company said, beating the expectations of analysts.