mergers and acquisitions

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Goodbye, Twitter Inc. Hello, X Corp.
Goodbye, Twitter Inc.
Hello, X Corp.
Apr 11, 2023 10:20 AM CDT

Goodbye, Twitter Inc. Hello, X Corp.

Parent company of social media platform has been absorbed by new Elon Musk firm, per court filing

(Newser) - Twitter the social media platform is still up and running ( last we checked , anyway), but Twitter Inc. the parent company is no more. That's per a court filing from last week that indicates the company has been absorbed into Elon Musk's X Corp., with the news pointed...

Pfizer Buys &#39;Goose That Is Laying the Golden Eggs&#39;
Pfizer Buys 'Goose That Is
Laying the Golden Eggs'
the rundown
Mar 14, 2023 10:10 AM CDT

Pfizer Buys 'Goose That Is Laying the Golden Eggs'

It will acquire cancer biotech firm Seagen, which specializes in ADC treatments, for $43M

(Newser) - It's not Pfizer's priciest acquisition by a long shot , but the numbers are staggering anyway: The pharma giant will pay $43 billion in cash for Seagen, a cancer biotech company that has yet to be profitable. What you need to know:
  • What Seagen does. The Washington-based company uses
...

Feds Are Not Going for JetBlue-Spirit Deal
DOJ on JetBlue-Spirit
Deal: Nope
Mar 7, 2023 11:33 AM CST

DOJ on JetBlue-Spirit Deal: Nope

Biden administration sues to halt sale of Spirit, thinks it would drive prices up

(Newser) - The Biden administration sued on Tuesday to block JetBlue Airways' $3.8 billion purchase of Spirit Airlines, saying the deal would reduce competition and drive up air fares. The Justice Department said the tie-up would especially hurt cost-conscious travelers who depend on Spirit to find cheaper options than they can...

Budget Airline Merger Could Create 5th-Largest US Carrier

Frontier has offered $3B to scoop up Spirit Airlines

(Newser) - Frontier is offering to buy Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday that the transaction will provide...

Times paying $550M for Athletic
Times Paying
$550M for Athletic
Jan 6, 2022 6:20 PM CST

Times Paying $550M for Athletic

Sports site brings 1.2M new owner subscribers

(Newser) - The Athletic, which has been looking for a buyer for months, has found one. The New York Times announced Thursday that it's reached an agreement to acquire the subscription-based sports media outlet in an all-cash deal worth $550 million, Axios reports. The Times said its new subsidiary will operate...

Regulators Might Block Amazon&#39;s MGM Buy
Regulators Might Block
Amazon's MGM Buy
THE RUNDOWN
May 26, 2021 2:45 PM CDT

Regulators Might Block Amazon's MGM Buy

Company's size could make acquisition a 'red flag' for antitrust officials

(Newser) - Amazon announced Wednesday that it has reached an $8.45 billion deal to acquire MGM Studios—but before the online giant can declare itself the owner of the James Bond franchise and the rest of MGM's enormous library, antitrust regulators will need to give the deal the green light....

Amazon Makes Its 2nd-Largest Acquisition

It will buy MGM Studios for $8.45B in deal announced Wednesday

(Newser) - Amazon has made "its boldest move yet into the entertainment industry" with its planned acquisition of movie and TV giant MGM Studios, per CNBC . The company announced Wednesday that it would buy the studio for $8.45 billion, thereby adding MGM's 4,000 films —including the James ...

AT&T Joins With Discovery to Create New Media Titan

New TV, film, and streaming company will compete against Netflix, Disney

(Newser) - AT&T will combine its massive media operations that include CNN, HBO, TNT, and TBS in a $43 billion deal with Discovery, the owner of lifestyle networks including the Food Network and HGTV. The deal reflects a new reality for the industry: Faced with cord-cutting and incursions by streaming services,...

For 2 Internet Giants of Old, Another Change of Hands

Verizon sells Yahoo and AOL

(Newser) - AOL and Yahoo are being sold again, this time to a private equity firm. Verizon will sell Verizon Media, which consists of the pioneering tech platforms, to Apollo Global Management in a $5 billion deal, per the AP . Verizon said Monday that it will keep a 10% stake in the...

Not-So-Sweet News for Friendly&#39;s Chain
Another Corporate
Casualty of COVID
Nov 2, 2020 10:00 AM CST

Another Corporate Casualty of COVID

Friendly's restaurant chain, known for its ice cream sundaes, has filed for Chapter 11

(Newser) - Friendly's Restaurants, an East Coast dining chain known for its sundaes, is filing for bankruptcy protection. The company, which runs its restaurants under the parent company FIC Restaurants Inc., will sell substantially all of its assets to the restaurant company Amici Partners Group, per the AP . All 130 of...

They Rule the Roast Beef World. Now They Want the Doughnuts

Arby's owner Inspire Brands to bring Dunkin', which owns Baskin-Robbins, private

(Newser) - Doughnuts and ice cream go with chicken wings and roast beef sandwiches, right? Hopefully so, because Dunkin', which owns Baskin-Robbins, is about to get scooped up by Inspire Brands, the holding company that owns Arby's, Buffalo Wild Wings, Sonic, and other eateries, CNN Business reports. The $11.3 billion...

The Lighting Game Made GE. Now It Says Goodbye

Savant Systems to acquire GE Lighting for a reported $250M

(Newser) - General Electric has sold its lighting business, which originated with Thomas Edison more than 140 years ago. For some, it's "as if Kellogg had jettisoned its cornflakes business or Ford had stopped making cars," reports the New York Times , noting GE floodlights allowed for the first MLB...

Uber Might Buy GrubHub
Uber Might Swallow GrubHub
May 12, 2020 3:36 PM CDT

Uber Might Swallow GrubHub

Merger would create food-delivery market leader

(Newser) - Uber might be preparing to swallow GrubHub in a deal that would create a clear market leader in the burgeoning food-delivery business. Sources tell the Wall Street Journal that Uber, which is focusing on its Uber Eats unit as ride-sharing slumps, approached GrubHub with a takeover offer earlier this year...

Intuit Drops $7.1B in Stock and Cash to Buy Credit Karma

Companies plan to build 'a personalized financial assistant'

(Newser) - Credit Karma, which had been planning an initial public offering by now, has agreed to be taken over by Intuit for $7.1 billion in cash and stock. Intuit's products include TurboTax, Quickbooks and Mint. Credit Karma offers free credit scores and free tax filing services, then sells other...

On Wall Street, One of Biggest Deals Since Financial Crisis

Morgan Stanley will scoop up the online brokerage for $13B

(Newser) - Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly $13 billion, one of the biggest deals on Wall Street since the financial crisis. The deal also is the latest chapter in Morgan Stanley's transformation from a scrappy, deal-doing, stock-trading investment bank to a more...

Huge Wireless Merger Now One Step Closer

Judge approves T-Mobile's takeover of Sprint

(Newser) - A federal judge on Tuesday approved T-Mobile's $26.5 billion takeover of Sprint, rejecting objections from a group of states and removing a major obstacle to a shake-up in the wireless industry. After the deal closes, the number of major US wireless companies would shrink from four to three....

Feds Sue to Block a Big Shaving Merger

Schick is trying to buy Harry's

(Newser) - Federal antitrust regulators say a proposed merger that would combine old-school shaving company Schick with upstart Harry's would end up costing consumers some skin. The Federal Trade Commission on Monday sued to block Edgewell Personal Care Co.'s $1.37 billion acquisition of Harry's, which was supposed...

The World Is Getting a New No. 4 Automaker

Via the merger of Fiat Chrysler and Peugeot

(Newser) - The boards of Fiat Chrysler Automobiles and PSA Peugeot on Wednesday signed a binding merger deal creating the world’s fourth-largest automaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies. The companies said in a joint statement the new group...

Huge Deal in the Works in World of Online Brokers

Charles Schwab will buy smaller rival TD Ameritrade

(Newser) - The word "behemoth" is being thrown around a lot Monday to describe a merger in the world of online brokers: Charles Schwab plans to buy TD Ameritrade in a stock deal worth $26 billion, reports Reuters . Just how big would this be? Schwab is already the dominant player in...

Jenner to Sell Majority Stake in Kylie Cosmetics

CoverGirl owner Coty to pay $600M for a 51% share

(Newser) - The world's youngest self-made billionaire is about to be $600 million richer. The downside is that Kylie Jenner will be without the majority share in her own beauty company. Jenner is expected to sell a 51% stake in Kylie Cosmetics, founded in 2015, to American beauty company Coty, which...

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