Mergers and acquisitions
Elliott to call for Southwest special meeting ‘as soon as next week’
A Southwest Airlines Boeing 737 departs Los Angeles International Airport en route to Las Vegas on September 19, 2024 in Los Angeles, California. Kevin Carter | Getty Images Elliott Management said Tuesday it will call a special meeting at Southwest Airlines “as soon as next week,” shortly after the company put forward a sweeping board shakeup […]
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Australia’s REA sweetens takeover offer for Britain’s Rightmove to $8.1 billion
Rightmove logo is seen displayed in this illustration taken April 10 2023. Reuters | Dado Ruvic Australian property listing firm REA Group has made a third pitch to buy British rival Rightmove with a new 6.1 billion pound ($8.12 billion) offer on Monday after its two previous offers were rejected. The latest offer consists of 341 pence in […]
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Motel 6 sold to Indian hotel operator Oyo for $525 million
A Motel 6 Fort Worth Star-Telegram | Tribune News Service | Getty Images The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be […]
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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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