Biz/Tech
Airbnb Raises More Than $100 Million in Latest Round Of Funding, Showing Solid Growth to Attract Investors
Cisco Announced Intent to Acquire Acano, Accelerate the Company's Collaboration Strategy
CVC, Canada Pension Plan Close to Acquiring Petco, Will Acquire Pet Retailer for $4,7 Billion
CVC Capital Partners Ltd., a private equity firm, and the Canada Pension Plan Investment Board are nearing a deal to acquire Petco Holdings, Inc., people familiar with the matter told Reuters. The deal will value Petco at $4.7 billion, including debt.
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Pfizer Nearing Agreement to Buy Allergan for about $150 Billion, Final Agreement Remains Uncertain Following Treasury's Tigthening of Rules on Inversions
Pfizer, Inc. is already in advanced talks to acquire Allergan Plc that would value the Botox maker as high as $150 billion, people familiar with the matter told Bloomberg. The people said, though, that a final agreement could be delayed, as well as a change in the terms of the transaction due to the U.S. Treasury Department’s changes on the rules on tax inversion deals.
Starboard Tells Yahoo to Drop its Plan to Spinoff Alibaba, Sell its Core Business Instead
Starboard Value LP is urging Yahoo! Inc. to drop its plan to spin off Aabaco Holdings, Inc., which contains the company’s non-core business assets, including Yahoo’s stake in Alibaba Group, according to Starboard’s letter sent to Yahoo. The activist investor is suggesting that Yahoo should instead be looking to sell its core business.
ConAgra to Separate into 2 Independent Public Companies, However, Move Leaves Bland Taste to Investors
ConAgra Foods, Inc. has announced in a press release that it will be splitting the company into two independent public companies. The split will allow the two businesses to be more focused and operate on their respective markets and capitalize on their long-term growth opportunities.
ON Semiconductor to Acquire Fairchild for $2.4 Billion in Cash
ON Semiconductor Corp. has announced in a press release that it will be acquiring Fairchild Semiconductor for $2.4 billion in cash. The acquisition will allow ON Semiconductor to be a global leader in the power semiconductor market.
Air Liquide to Acquire Airgas for $13.4 Billion in Cash, Strengthen Company's Global Leadership Position
Air Liquide SA, a world leader in gases, technologies and services for Industry and Health, has announced in a press release that it will be acquiring Airgas Inc. for about $13.4 billion. The acquisition will strengthen Air Liquide’s global leadership position, combining Airgas’ number one position in the U.S. with the company’s number one positions in Europe, Africa / Middle East, and Asia-Pacific.
Citrix to Spin Off GoTo Business, Enhances Company's Strategic Focus and Competitive Positions
Citrix Systems, Inc., a cloud computing software maker, has announced in a press release that it plans to spin off its GoTo family of products into a separate, publicly traded company. The move will allow Citrix and its GoTo business to enhance their strategic focus and respective competitive positions.
American Airlines to Change Loyalty Program in 2nd Half of 2016
American Airlines Group has announced in a press release that it will be changing its AAdvantage loyalty program in the second half of 2016. The airlines loyalty program will shift how customers can earn award miles from distance flown to dollars spent.
Canadian Pacific Proposes Merger with Norfolk Southern, Will Reshape North American Rail Industry
Canadian Pacific Railway Ltd. has sent an offer letter to Norfolk Southern Corp. that proposes a business combination of the two companies, according to a press release issued by Canadian Pacific. The merger of the two companies would reshape the North American rail industry.
Media General Rejects Nextstar's Bid, But Agrees to Engage in Negotiations
Media General, Inc. has announced in a press release that their board has unanimously rejected Nexstar Broadcasting Group, Inc.’s unsolicited proposal, as currently constructed, for Nexstar to acquire all the outstanding common stock of Media General. The company, though, agrees to engage in negotiations with Nexstar regarding the proposed merger.
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