Mergers and acquisitions
Pfizer threatened to sue renegade executives prior to activist schism, Starboard’s Smith says
Ian Read, chairman and chief executive officer of Pfizer Inc., gestures as he speaks during a panel session at the World Economic Forum (WEF) in Davos, Switzerland, on Tuesday, Jan. 17, 2017. Simon Dawson | Bloomberg | Getty Images Activist Starboard Value accused Pfizer of threatening litigation against the company’s former CEO and CFO in […]
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7-Eleven’s parent company cuts full-year earnings forecast, presses ahead with restructuring
A customer is seen inside a 7-Eleven convenience store along a street in central Tokyo on September 9, 2024. Richard A. Brooks | Afp | Getty Images Japanese convenience retailer Seven & i Holdings slashed its earnings forecasts and pressed ahead with restructuring plans that include spinning off non-core businesses into a standalone subsidiary. The […]
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Former Pfizer CEO, finance chief step back from Starboard’s activist campaign
Ian Read, chairman and chief executive officer of Pfizer, speaks as President Donald Trump, left, listens during an announcement on a new pharmaceutical glass packaging initiative in the Roosevelt Room of the White House in Washington, D.C., July 20, 2017. Andrew Harrer | Bloomberg | Getty Images Former Pfizer CEO Ian Read and ex-CFO Frank […]
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Activist Starboard Value has $1 billion Pfizer stake, taps former executives for help, sources say
People pass by the Pfizer headquarters building in New York City, Jan. 29, 2023. Kena Betancur | View Press | Corbis News | Getty Images Activist investor Starboard Value has a roughly $1 billion stake in pharmaceutical giant Pfizer and is seeking to mount a turnaround at the struggling company, according to people familiar with […]
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Online retailer Shein to hold roadshows soon ahead of London IPO, Reuters reports
The logo of fast fashion e-commerce company Shein outside its office in Guangzhou in southern China’s Guangdong province. Jade Gao | Afp | Getty Images Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering, three sources with knowledge of the matter said, pushing ahead with preparations […]
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PepsiCo to buy tortilla chip maker Siete Foods for $1.2 billion
Siete Foods Tortilla Chips Courtesy: Siete Foods PepsiCo said Tuesday that it’s buying Mexican-American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio to include healthier options in recent years, usually through acquisitions. Recent additions […]
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London-based Robinhood rival Freetrade buys UK arm of Australian investing platform Stake
Key Points British retail investing app Freetrade has entered into an agreement with Australian rival Stake to take on all of the company’s U.K. clients and their assets, Freetrade told CNBC Tuesday. Sydney-based Stake launched its services in the U.K. in 2020, however the firm has decided to focus primarily on its Australia and New […]
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Major CVS shareholder plans activist push, will meet with management, sources say
CVS Pharmacy logo is seen at store in Florida Keys, United States on May 7, 2024. Jakub Porzycki | Nurphoto | Getty Images Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, […]
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EchoStar nears deal to sell Dish to DirecTV with $2 billion debt payment looming
Charlie Ergen, chairman and co-founder of Dish Network Corp. Jonathan Alcorn | Bloomberg | Getty Images Charlie Ergen is getting close to selling the pay-TV business he founded more than 40 years ago. EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned […]
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Commerzbank and UniCredit hold talks as takeover prospect looms
A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty Images Commerzbank and UniCredit began talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. The discussions, which […]
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