Biz/Tech
Starboard Tells Yahoo to Drop its Plan to Spinoff Alibaba, Sell its Core Business Instead
ConAgra to Separate into 2 Independent Public Companies, However, Move Leaves Bland Taste to Investors
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.
Latest News
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.
Constellation Brands Acquires Ballast Point, Allows it to Compete in Craft Beer Segment
Constellation Brands Inc. has announced in a press release that it will be acquiring Ballast Point Brewing & Spirits, one of the fastest growing craft beer companies in the U.S., for approximately $1 billion. The acquisition allows Constellation to compete in the fast-growing craft beer segment and further strengthen its position in the highest end of the U.S. beer market.
Liberty Global Acquires Cables & Wireless, Creates Leading Consumer, B2B Communications Provider in Latin America and the Caribbean
Liberty Global plc has announced in a press release that it will be acquiring Cable & Wireless Communications Plc for approximately £3.5 billion, or $5.3 billion. The acquisition would create the leading consumer and B2B communication provider in Latin America and the Caribbean.
Julius Baer to Increase its Stake at Kairos, Reinforces its Long-Term Position in Italy
Julius Baer Group Ltd. has announced in a press release that it has agreed to increase its stake at Kairos Investment Management SpA, the leading independent Italian wealth and asset management firm. The acquisition would reinforce Julius Baer’s and Kairos’ long-term position in Italy.
Marriott to Acquire Starwood Hotels & Resorts, Become World's Largest Hotel Company
Marriott International, Inc. has announced in a press release that it will be acquiring Starwood Hotels & Resorts Worldwide, Inc. for $12.2 billion. The acquisition makes Marriott the largest hotel company in the world.
CEO Marcelo Claure Discusses 'One Sprint' Business Strategy
Marcelo Claure, the CEO of Sprint Corp., has just revealed his “One Sprint” business strategy in a weekly newsletter to employees, according to a report from the Kansas City Business Journal.
GE Close to Selling its Japanese Commercial Lending Business with 2 Bidders Remaining, Bids Value Business at $5 Billion
General Electric Co. (GE) is nearing the sale of its Japanese commercial lending business with only two bidders remaining, a person familiar with the matter told The Wall Street Journal. The bids have valued GE’s commercial lending and leasing operation at nearly $5 billion.
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