Mergers and acquisitions
Britain does a bad job at keeping globally relevant tech firms, former Arm CEO says
Warren East, former CEO of Rolls Royce and Arm, speaking at a tech event in London on June 13, 2022. Luke MacGregor | Bloomberg via Getty Images CAMBRIDGE, England — The U.K. is doing a bad job of commercializing technology businesses globally and needs a mindset shift from the investor community to win on the […]
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Deep divisions in battleground Pennsylvania over proposed sale of U.S. Steel to Japanese company
A water tower at the United States Steel Corp. Edgar Thomson Works steel mill in Braddock, Pennsylvania, US, on Wednesday, Sept. 4, 2024. Justin Merriman | Bloomberg | Getty Images WEST MIFFLIN, Pa. — It’s one the few things Vice President Kamala Harris and former President Donald Trump agree on: opposing the sale of U.S. Steel to the Japanese […]
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7-Eleven’s parent company rejects takeover proposal, says offer ‘grossly undervalues’ company
Key Points The company said the proposal was “opportunistically timed and grossly undervalues our standalone path and the additional actionable avenues we see to realize and unlock shareholder value in the near- to medium-term.” Even if Couche-Tard increases its offer “very significantly,” Seven & i said the proposal does not consider the “multiple and significant […]
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U.S. warns against Nippon merger with U.S. Steel, citing China steel glut
This picture taken on Feb. 16, 2024 shows a logo of Nippon Steel Corp. at the company’s Kyushu manufacturing base in Kitakyushu city of Fukuoka Prefecture. U.S. President Joe Biden plans to express concern over Nippon Steel’s proposed $14.9 billion purchase of U.S. Steel, a person familiar with the matter said on Wednesday, pushing the […]
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Harris says she opposes U.S. Steel’s sale to a Japanese firm during campaign event
Democratic presidential nominee and U.S. Vice President Kamala Harris reacts as she attends a Labor Day campaign event, at IBEW Local Union #5 in Pittsburgh, Pennsylvania, U.S., September 2, 2024. Elizabeth Frantz | Reuters Vice President Kamala Harris used a joint campaign appearance with President Joe Biden in the critical swing state of Pennsylvania on Monday to say that […]
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Blackstone-led consortium nears $13.5 billion deal to acquire AirTrunk, Reuters reports
Blackstone offices in New York City. Erik Mcgregor | Lightrocket | Getty Images A consortium led by Blackstone is nearing a deal to acquire Australian data center group AirTrunk for A$20 billion ($13.53 billion) including debt, a person with knowledge of the situation said on Monday. Blackstone and its partner, the Canada Pension Plan Investment Board, emerged as […]
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These Asian firms in Buffett’s Berkshire Hathaway portfolio have surged, with one soaring 30%
Warren Buffett, Berkshire Hathaway CEO and chairman. Cnbc | Nbcuniversal | Getty Images Shares of the five trading firms in Warren Buffett-backed Berkshire Hathaway‘s portfolio — Itochu Corp, Marubeni Corp, Mitsubishi Corp, Mitsui & Co, and Sumitomo Corp — have surged, with one rising as much 30% in 2024. These five names are also the […]
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Intel CEO Gelsinger says he respects ‘skepticism’ from investors as chipmaker’s struggles persist
Pat Gelsinger, chief executive officer of Intel Corp., holds a wafer as he speaks at the Computex conference in Taipei, Taiwan, on Tuesday, June 4, 2024. Annabelle Chih | Bloomberg | Getty Images Intel CEO Pat Gelsinger said on Thursday that it’s been a “difficult few weeks” since the chipmaker’s disastrous earnings report and the […]
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Intel has hired Morgan Stanley, other advisers for activist defense
A sign is posted in front of Intel headquarters on August 01, 2024 in Santa Clara, California. Justin Sullivan | Getty Images News | Getty Images Intel is working with advisors including Morgan Stanley to help defend itself against activist investors, according to people familiar with the matter, as CEO Pat Gelsinger attempts to turn […]
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Proposed 7-Eleven buyout deal will likely face anti-trust scrutiny, retail analyst says
A 7-Eleven convenience store, operated by Seven & i Holdings Co., in Kawasaki, Japan, on Monday, Aug. 19, 2024. Bloomberg | Bloomberg | Getty Images Circle K operator Alimentation Couche-Tard’s proposal to acquire Japanese rival and 7-Eleven owner Seven & i Holdings Co., is likely to attract antitrust scrutiny, particularly in the U.S., according to […]
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