Jeff Bezos Buys His Florida Neighbor’s Mansion for $79M

The deal is the latest upheaval in the U.S. department store landscape as companies try to find new ways to boost sluggish revenue and compete against online juggernauts.

The founding family is betting that the retail chain will be more successful without the scrutiny and demands of the public market.

The chain wants compensation for the “multiple years and hundreds of millions of dollars it devoted to obtaining approval for the merger.”