mergers and acquisitions

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Shell Denies Report of 'Biggest Deal in a Generation'

Sources told WSJ oil giant was in talks to acquire BP

(Newser) - Shell is denying reports that it is in talks to acquire BP in what could be the energy industry's biggest deal in decades. The Wall Street Journal , citing "people familiar with the matter," reported Wednesday that Shell was in early-stage talks to snap up its rival in...

Nippon Steel-US Steel Deal Closes, With a Change

Federal government will have control of a board seat and a say in some matters

(Newser) - Nippon Steel and US Steel said Wednesday they have finalized their "historic partnership," a deal that gives the US government a say in some matters and comes a year-and-a-half after the Japanese company first proposed its nearly $15 billion buyout of the iconic American steelmaker. The pursuit by...

Trump Announces 'Partnership' Between US Steel, Nippon

Merger blocked by Biden might be cleared, but few details are released

(Newser) - President Trump announced a deal on Friday between US Steel and Japan's Nippon Steel, which have been seeking approval to merge, but the scope of the agreement wasn't revealed. The president posted on Truth Social that the companies will enter into a "planned partnership" that will keep...

23andMe Has a Buyer —and Privacy Concerns

Biotech firm Regeneron would take control of clients' genetic data

(Newser) - Biotech company Regeneron Pharmaceuticals is buying 23andMe for $256 million, reports the AP , two months after the genetic testing company filed for Chapter 11 bankruptcy . The Wall Street Journal foresees instant "privacy concerns," given that Regeneron would acquire the genetic data of millions of people under the deal....

Cox, Charter Play to Trump in Announcing $34.5B Merger

FTC chairman has suggested companies shouldn't assume deals will be approved

(Newser) - A merger that would create one of the nation's biggest TV and internet providers will provide an early test case for President Trump's antitrust enforcers. Charter Communications and Cox Communications announced the deal on Friday in a statement tailored to reflect the president's rhetoric, the New York ...

Skechers Deal Is Biggest-Ever Footwear Buyout

Company's board unanimously backs $9B 3G Capital deal

(Newser) - Skechers is set to be acquired by investment 3G Capital for around $9 billion and will become a private company. The board backed the deal unanimously, according to both firms. The $63-per-share offer is a 30% premium over the company's 15-day volume-weighted average stock price. After the transaction...

60 Minutes Reporter Rebukes CBS Owner on Air

Scott Pelley speaks out after longtime executive producer resigns

(Newser) - The AP calls it "an unusual peek behind the scenes at the sort of inner turmoil that viewers seldom get the opportunity to see:" At the end of Sunday's episode of 60 Minutes, correspondent Scott Pelley paid tribute to Bill Owens, the executive producer who left the...

Prada Buys Versace in 'Bold and Ambitious' Move

The $1.4B deal merges 2 luxury fashion titans

(Newser) - In a major shake-up in the fashion world, the Prada Group is set to acquire Versace from Capri Holdings for $1.4 billion, merging iconic Italian style with Prada's global influence. This strategic move promises a powerful synthesis of two luxury fashion titans, poised to reshape industry dynamics....

Google Is Making the Biggest Buy in Its History

Tech behemoth will purchase cybersecurity firm Wiz for $32B

(Newser) - Google will buy cybersecurity firm Wiz for $32 billion to boost the tech giant's in-house cloud computing amid burgeoning artificial-intelligence growth. The all-cash acquisition announced Tuesday would be Google's biggest in its 26-year history, reports the AP , and it's the biggest deal of 2025. Wiz will join...

Japanese Carmakers Scotch That Much Ballyhooed Merger

Honda, Nissan, Mitsubishi decide to end talks of business integration

(Newser) - Japanese automakers Honda, Nissan, and Mitsubishi said on Thursday they're ending talks on business integration. Nissan CEO Makoto Uchida said the talks had changed focus from setting up a joint holding company to making Nissan into a subsidiary of Honda. "The intent was to join forces to win...

Déjà Vu All Over Again: Frontier Pushes Spirit Merger

It tried the same thing in 2022

(Newser) - Once scorned, twice shy doesn't appear to apply to Frontier Airlines, which on Wednesday said it has again made a "compelling proposal" to merge with Spirit Airlines. CNBC reports the two airlines announced they intended to merge in 2022, but an offer from JetBlue Airways ended up thwarting...

US Steel, Nippon React to Biden Decision With a Lawsuit

They contend the decision was unfounded, and process was rigged by a rival and union boss

(Newser) - Nippon Steel and US Steel filed a federal lawsuit challenging a Biden administration decision to block Nippon's proposed $15 billion acquisition of the Pittsburgh company and said that the head of United Steelworkers union and a rival steelmaker worked together to scuttle the deal. Biden said Friday that US...

Biden Blocks Sale of US Steel to Nippon

President pushes back against takeover bid by Japan's Nippon Steel to scoop up US Steel

(Newser) - President Biden has long expressed his disapproval for a deal in which Japan's Nippon Steel scoops up the iconic US Steel, and this week he made that disapproval official. In a Friday morning statement, the commander in chief rebuffed the proposed $14 billion-plus deal, noting that "we need...

Nordstroms Acquiring Nordstrom in $6.25B Deal

Mexican retail group joins in arrangement to take iconic chain private

(Newser) - Century-old department store Nordstrom has agreed to be acquired and taken private by Nordstrom family members and a Mexican retail group in a $6.25 billion deal, with the industry being squeezed by discount chains and other competition. Public companies are under a lot more scrutiny, and if private, the...

FTC Wins Order Blocking Coach-Michael Kors Deal

FTC opposed the acquisition, saying it would reduce competition

(Newser) - A judge has agreed with the Federal Trade Commission, ruling Thursday that brands including Coach, Kate Spade, Michael Kors, Versace, and Jimmy Choo do not belong under one roof. Tapestry, which owns the Coach label, had reached an $8.5 billion deal to acquire Capri, a rival whose lines include...

True Value Declares Bankruptcy
True Value Files for Bankruptcy
Oct 15, 2024 1:30 AM CDT

True Value Files for Bankruptcy

Hardware chain's operations are being sold to a rival

(Newser) - A hardware company founded in 1948 is going out of business. True Value announced Monday that it has filed for Chapter 11 bankruptcy and that almost all of its assets and operations will be sold to a rival, Do it Best. However, True Value's 4,500 independently operated locations...

DirecTV Scoops Up a Major Rival
DirecTV Scoops Up
a Major Rival
Sep 30, 2024 8:11 AM CDT

DirecTV Scoops Up a Major Rival

Company will buy Dish and Sling in a deal it's been seeking for years

(Newser) - DirecTV is buying Dish and Sling, a deal it has sought to complete for years, as the company seeks to better compete against streaming services that have become dominant. DirecTV said Monday it will acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that...

Sale of US Steel to Japanese Firm Clears Major Hurdle

Board rules in favor of US Steel in union dispute

(Newser) - An arbitration board has cleared the way for the acquisition of US Steel by Nippon Steel to proceed. The board, jointly chosen by US Steel and the United Steelworkers union, ruled in favor of US Steel, saying terms of the successorship clause in its basic labor agreement had been met,...

Famous Budget Hotel Chain Scooped Up for $525M

Purchase is latest move for India-based Oyo, which has been expanding in US since 2019

(Newser) - Motel 6 has 1,500 or so locations sprinkled throughout the United States and Canada, and now a hotel giant from India is about to take over. The Wall Street Journal reports that Oyo has agreed to buy the budget motel chain for $525 million from parent company Blackstone, as...

7-Eleven Parent Company on Canadian Takeover Bid: Um, No

Offer 'grossly undervalues' Japanese firm, committee chair says

(Newser) - 7-Eleven's Japanese parent company has rejected a takeover bid that would have created the world's fourth-biggest retail company. Stephen Dacus, chair of a committee of independent directors tasked with considering Alimentation Couche-Tard's bid for Seven & i, said the Canadian company's bid is "opportunistically timed"...

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