Jean-Claude Arnobit
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MB Financial To Acquire American Chartered For Roughly $449 Million, Expands Commercial Banking Business
MB Financial, Inc. has announced in a press release that it will be acquiring American Chartered Bancorp, Inc. for approximately $449 million.
TrueCar Names Chip Perry as New President and CEO, Places Restoring Positive Relationship with Car Dealers as Top Priority
TrueCar, Inc. has announced in a press release that it has named Chip Perry, an online automotive pioneer and long-time industry leader, to be the company’s new president and CEO.
Intel Hires Former Qualcomm Executive To Run Client And Internet Of Things Business, Systems Architecture Group
Intel Corporation has announced in a press release that it has hired former Qualcomm Inc. executive Dr. Venkata “Murthy” Renduchintala.
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.
Several Starwood Hotels Infected with Malware, Customer Credit Card Info Breached
Starwood Hotels & Resorts Worldwide, Inc. has announced in a press release that the point of sale systems of some of its hotels in North America was infected with malware.
Alberta, Canada Announces Climate Leadership Plan To Protect Residents' Health
The government of Alberta, Canada has announced in a press release its Climate Leadership Plan that will accelerate the transition from coal to renewable electricity sources, puts a price on carbon pollution, and sets emission limits for oil sands.
Ford Workers Narrowly Ratify UAW-Ford Deal, Some Workers Feel Better Deal Still Available
The United Auto Workers (UAW) has announced in a press release that its members have voted to ratify the new four-year collective bargaining agreement with Ford Motor Company. The approval, though, only won narrowly with only 51.4 percent of the members voting to ratify the new agreement. The Chicago Sun-Times adds that the narrow approval was due to some workers saying that the union didn’t push back hard enough to win some of the things that the workers lost in previous agreements, including the annual wage increase.
Airbnb Raises More Than $100 Million in Latest Round Of Funding, Showing Solid Growth to Attract Investors
Airbnb Inc. has raised more than $100 million in a new round of funding that has closed, a person familiar with the matter has told The Wall Street Journal.
Cisco Announced Intent to Acquire Acano, Accelerate the Company's Collaboration Strategy
Cisco Systems Inc. has announced in a press release its intent to acquire Acano Ltd., a privately held company based in London that provides collaboration infrastructure and conferencing software, for $700 million. The transaction will allow Cisco to accelerate its collaboration business.
Jawbone Lays Off 15 Percent of Staff Worldwide and Closes Down its New York Office
Jawbone Inc., the maker of fitness trackers, speakers and Bluetooth headsets, had laid off 60 employees, or 15 percent of its total staff, according to a report from TechCrunch.
Allegiant Announces Expansion to 2 New Cities and New Routes Service. Offer Fares As Low As $29 on the New Routes to Celebrate the Expansion
Allegiant Air, a low-cost airline owned by Allegiant Travel Company, has announced in a press release that it will be adding nine new routes and adding two cities to its nonstop service. To celebrate the expansion, the airline is offering one-way fares on the new routes for as low as $29.
Tyson Foods to Close Two Prepared Foods Plants, Aims to Improve Overall Performance of its Prepared Foods Business
Tyson Foods, Inc. has announced in a press release that it plans to discontinue operations at two of its prepared foods plants that will affect approximately 880 people. The meat processing company said that the closure is part of its efforts to improve the overall performance of its prepared foods business.
Conde Nast to End the Publication of Details Magazine, Part of Restructuring as the Company Evolve its Business
Condé Nast has now published the last issue of Details, a men's’ fashion and lifestyle magazine, after Bob Sauerberg, the president of the company, announced in an internal memo on Wednesday that production of the magazine will be halted, according to a report from The Huffington Post. Sauerberg said in the memo that Condé Nast is looking to “evolve the business” as the company responds to the changing behavior of its audiences.
Spotify Announced New Parental Leave Policy, One of the Most Generous in the U.S.
Katarina Berg, the chief human resource officer at Spotify has announced in a press release that the company will be introducing a new parental leave policy that is developed to support all of the company’s staff with families. The new parental leave policy is considered as one of the most generous in the U.S.
FDA Approves Genetically Engineered Salmon for Consumption, Says the Fish is "Safe to Eat"
The U.S. Food and Drug Administration (FDA) has announced in a press release that they are approving AquaBounty Technologies’ application for the AquaAdvantage Salmon, a genetically engineered Atlantic salmon that reaches market size quickly than the not genetically engineered farm-raised Atlantic salmon. The FDA said that the genetically engineered Atlantic salmon is “safe to eat.”
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.
Dunkin Donuts Tests On-The-Go Ordering and Delivery Service, Makes their Products More Accessible to Customers
Dunkin’ Donuts has announced in a press release that they will begin testing their On-The-Go Ordering and Dunkin’ Delivery at select U.S. markets. The new program will allow Dunkin’ Donuts to make their products more accessible to their customers.
Airport Workers Go On Strike at Several U.S. Hubs, Fight Against Bad Wages, Threats on Unionizing
Airport workers at seven of the busiest hubs in the U.S. went on a strike on Wednesday, November 18, 2015, and will continue until Thursday, November 19, 2015, according to a report from Reuters. The workers are fighting against what they say are bad wages and threats against unionizing.
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.
Statoil Exits Alaska, Leases in Chukchi Sea No Longer Considered Competitive
Statoil, a major Norwegian oil company, has announced in a press release that it will be exiting its leases and closing its office in Alaska. The company said that it no longer find the leases in Chukchi Sea competitive within its global portfolio.
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.
Wells Fargo Names Tim Sloan as President and COO, Makes Him Likely Successor to Chairman and CEO John Stumpf
Wells Fargo & Co. has announced in a press release that it has named Timothy J. Sloan, a 28-year company veteran, to be the president and COO, effective immediately. The move makes Sloan the likely successor to Wells Fargo chairman and CEO John G. Stumpf, who is 62-years-old.
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.
Taco Bell Aims To Serve Eggs From Cage-Free Chickens In All U.S. Restaurants By End Of 2016
Taco Bell Corp. announced in a press release that 100 percent of its more than 6,000 U.S. corporate and franchised-owned restaurants will exclusively serve cage-free eggs by December 31, 2016. The move would make Taco Bell the first national quick service restaurant to completely implement the change.
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.
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