merger

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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...

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...

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...

Say Hello to the 'New Paramount'
Say Hello to the
'New Paramount'
Jul 8, 2024 8:14 AM CDT

Say Hello to the 'New Paramount'

And goodbye to the reign of the Redstone family, as Paramount plans its merger with Skydance

(Newser) - Paramount Global has had a tough time of it in the digital era, struggling to gain a foothold in the streaming arena—but a new merger may remedy some of that. Per t he AP , Paramount announced Sunday that it has struck a deal to merge with the Skydance Media...

Sony Pictures Makes a 'Rare' Acquisition

Studio conglomerate buys Austin-based Alamo Drafthouse movie theater chain

(Newser) - Sony Pictures Entertainment just got a little bigger. CNBC reports that the studio conglomerate has scooped up Alamo Drafthouse, the seventh-largest movie theater chain in North America, from owners Altamont Capital Partners, Fortress Investment Group, and co-founder Tim League. Variety notes that "it marks a rare time in recent...

2 of Our 'Most Recognizable Energy Companies' to Combine

ConocoPhillips to acquire Marathon Oil in a deal worth $22.5B, including debt

(Newser) - ConocoPhillips is buying Marathon Oil in an all-stock deal valued at approximately $17.1 billion as energy prices rise and big oil companies reap massive profits. The Wall Street Journal calls it a deal "that would combine two of America's most recognizable energy companies." The AP notes...

One Big Oil Company Will Absorb Another, for $53B

Chevron is buying Hess, just weeks after Exxon Mobil made its own $60B acquisition

(Newser) - Chevron is buying Hess Corp. for $53 billion as the biggest US oil companies use a recent windfall in profits to buy up smaller competitors. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion, per the AP...

Campbell Soup Is Making a $2.7B Buy
Campbell Soup
Just Made a Big Buy
Aug 8, 2023 9:40 AM CDT

Campbell Soup Just Made a Big Buy

Venerated soup-maker is picking up Sovos, the maker of Rao's pasta sauces, for $2.7B

(Newser) - Campbell Soup is set to buy Sovos Brands, the maker of Rao's pasta sauces. The two companies said in an announcement that they had entered an agreement for Campbell to acquire Sovos for $23 per share in cash—reflecting a total value of about $2.7 billion, the AP...

Golf May Never Be the Same After Stunning Merger
PGA Chief's About-Face
Came in Secret Meeting
the rundown
Jun 7, 2023 10:25 AM CDT

PGA Chief's About-Face Came in Secret Meeting

Jay Monahan once reviled the Saudi LIV tour, but he then agreed to a stunning merger

(Newser) - A lot of words are being thrown around to describe what happened in the world of golf on Tuesday: Shocking, stunning, hypocritical (from the critics), to name a few. One thing clear, though, is that "Tuesday was unlike any other [day] in golf history," writes Brendan Quinn at...

'Stunning' Merger Pairs PGA With Saudi's LIV Tour

Agreement appears to end an acrimonious year in world of pro golf

(Newser) - The most disruptive year in golf ended Tuesday when the PGA Tour and European Tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world, per the AP . As part of the deal, the sides are dropping all...

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...

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...

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....

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...

New Giant Is Born in Defense Industry
New Giant Is Born
in Defense Industry
Jun 10, 2019 10:10 AM CDT

New Giant Is Born in Defense Industry

After merger, Raytheon Technologies will be 2nd to Boeing in aerospace and defense industry

(Newser) - In the lucrative aerospace and defense industry, the top two companies are Boeing and Lockheed Martin. But assuming a giant new merger goes through, the top rankings will have to be reordered: Boeing ($101 billion in annual revenue) will remain No. 1, Lockheed ($53.7 billion) will fall to No....

A New Auto Giant May Be Right Around the Corner

Chrysler-Renault merger would forge the world's third-largest automaker

(Newser) - Fiat Chrysler proposed on Monday to merge with France's Renault to create the world's third-biggest automaker and save billions of dollars needed to invest in the race to make new electric and autonomous vehicles, the AP reports. The merged company would reshape the global industry: It would make...

A Giant Merger Is Cleared, Despite DOJ Objections

Appeals court blesses AT&T acquisition of Time Warner

(Newser) - A federal appeals court has cleared AT&T's takeover of Time Warner, rejecting a challenge from the Trump administration, per the AP . The ruling by the US Court of Appeals in Washington came Tuesday in the high-stakes case, approving one of the biggest media marriages ever. The appeals court...

Sprint, T-Mobile Merger Is Back On
US Wireless
Landscape
About to Change
Apr 29, 2018 12:25 PM CDT

US Wireless Landscape About to Change

But customer-friendly plans may get nixed

(Newser) - T-Mobile and Sprint announced Sunday that they reached an agreement to combine into a new company that would reshape the US wireless landscape by reducing it to three major cellphone providers, the AP reports. The deal would help the companies slash costs and could make them a stronger competitor to...

2 of the World's Biggest Chipmakers May Merge

Broadcom offers $103B for Qualcomm

(Newser) - Broadcom made an unsolicited $103 billion offer for rival chipmaker Qualcomm, the tech industry's largest attempted takeover that is destined to come under intense regulatory scrutiny, the AP reports. The company said Monday that it wouldn't have pushed forward with the proposed buyout if it wasn't confident...

QVC Buying HSN for $2.1B
Home Shopping
Rivals Are Merging
Jul 6, 2017 1:53 PM CDT

Home Shopping Rivals Are Merging

QVC buying HSN for $2.1B

(Newser) - The giants of the home shopping world are merging. QVC is acquiring HSN (which birthed home shopping as the Home Shopping Network in 1977) in an all-stock transaction valued at more than $2 billion, the Wall Street Journal reports. The longtime rivals are joining forces against a bigger rival: online...

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