Biz/Tech
GM to Import Chinese Made Buick SUV to the U.S., Adds a Third SUV to Buick's U.S. Lineup
Hulu in Talks to Sell a Stake to Time Warner, Advance its Efforts to Compete with Netflix and Amazon
Springleaf to Sell 127 Branches as Part of Settlement with U.S. DOJ, Clears Way for OneMain Acquistion
Springleaf Holdings, Inc. has announced in a press release that it will be selling 127 branches in 11 states as part of the settlement terms it has reached with the U.S. Department of Justice and the Attorney Generals of seven states. The settlement agreement has cleared the way for the closure of Springleaf’s acquisition of OneMain Financial Holdings, LLC.
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KFC Partners with DoorDash, Delivers Bucket of KFC to Select U.S. Cities
Kentucky Fried Chicken (KFC) has announced in a press release published in PR Newswire that they have partnered with DoorDash, a company that offers on-demand delivery. The partnership allows KFC to deliver its food to customers in the San Francisco Bay Area, Los Angeles and Orange County.
Barrick Gold to Sell 4 Non-Core Assets to Kinross and Waterton for $720 Million, Part of Debt Reduction Effort
Barrick Gold Corporation has announced in a press release that it will be selling four non-core assets to Kinross Gold Corporation and Waterton Precious Metals Fund II Cayman, LP for a total of $720 million in cash. The sale of the assets is part of the company’s effort to reduce its debt, which it said is on track to meet.
Airbnb Pledges to Work Together with Cities, Be More Transparent, Pay Fair Share of Taxes
Airbnb said in a blog post that the company is planning for greater cooperation with cities with its new Airbnb Community Compact policy. Under the new policy the company is planning to be more transparent and pay its fair share of taxes.
IAC Offers to Acquire Angie's List, Angie's Board to Review and Evaluate the Offer
InterActiveCorp (IAC) has proposed to acquire all of the outstanding shares of Angie’s List, Inc. common stock for $8.75 per share, according to IAC’s press release published in PR Newswire. The transaction proposed would be structured as an all-cash deal, however, IAC is also considering a combination of Angie’s List with IAC’s HomeAdvisor business through a tax-free stock-for-stock exchange.
Tenable Network Security Raises $250 Million in Funding Round, Will Accelerate Company's Long-Term Global Growth
Tenable Network Security, one of the leading global providers of next-generation cyber security software, has announced in a press release a $250 million Series B funding round led by Insight Venture Partners and Accel. The investment, which is one of the largest funding rounds completed for a private security company, is expected to accelerate Tenable’s long-term global growth.
United Bankshare to Acquire Bank of Georgetown, Enhance Existing Footprint in DC Metro Region
United Bankshares, Inc. announced in a press release that it will be acquiring Bank of Georgetown, a privately held community bank, for approximately $269 million. The acquisition will strengthen United Bankshares’ franchise and enhance its existing footprint in the D.C. Metro region.
Yahoo Hires McKinsey & Co., Will Help Company Decide which Units to Shutter, Sell or Invest More
Yahoo Inc. has hired McKinsey & Co., a global management consultant firm, to help the company, people close to the situation told Re/code. The consultant firm will help Yahoo decide on which unit will it shutter, sell or invest more in.
Canadian Pacific to Explore Takeover of Norfolk Southern, Attempting to Consolidate the North American Railroad Industry
Canadian Pacific Railway Ltd. is exploring a takeover of U.S. carrier Norfolk Southern Corp., people familiar with the matter told Bloomberg. The move is an attempt to consolidate the North American railroad industry.
Singapore Airlines to Buy Remaining Shares of Tiger Airways, Plans to Delist, Privatize Airline
Singapore Airlines (SIA) has announced in a press release that it is launching a voluntary conditional general offer for all the shares of Tiger Airways that it does not already own. SIA, who currently owns 55.8 percent of Tiger Airways, plans to delist and privatize the budget airline through the offer.
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