Mergers and acquisitions
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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How Elliott’s monthslong Starbucks campaign got it a better deal than it asked for
People seen around the Starbucks coffee store in Shenzhen, China. Jakub Porzycki | Nurphoto | Getty Images In May, it was a $2.5 billion stake in Texas Instruments and a $1 billion-plus position at Johnson Controls. In June came a $2 billion stake in Southwest Airlines and an equally large investment in Japanese conglomerate SoftBank. […]
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Reliance, Disney offer concessions to win antitrust nod for India media merger, Reuters reports
Reliance and Walt Disney have offered to sell some channels to win faster antitrust approval for their $8.5 billion India media assets merger, but are resisting changes to cricket broadcast rights they own, two sources familiar with the matter said. Antitrust experts have warned that the Reliance-Disney merger, announced in February, could face intense scrutiny […]
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Italy looks like fertile ground for a mega merger deal in banking
Key Points “If you assess individual banks in Italy, it’s difficult not to believe that something will happen, I would say, over the next 12 months or so,” Antonio Reale, co-head of European banks at Bank of America, told CNBC. Speaking in March, Italy’s Economy Minister Giancarlo Giorgetti said “there is a specific commitment” with […]
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Kellanova stock climbs on reports of potential sale to M&M’s owner Mars
Signage for Kellanova outside the New York Stock Exchange on Sept. 5, 2023. AP Shares of Kellanova climbed 13% in morning trading Monday on reports of buyout interest. M&M’s owner Mars is in talks to acquire the snacking company, CNBC’s David Faber reported, adding rival candy company Hershey is also potentially interested in buying the […]
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Google-parent Alphabet’s partnership with AI firm Anthropic under investigation in the UK
In this photo illustration, the Alphabet Inc. logo seen displayed on a smartphone screen and the Google logo in the background. Jaque Silva | Lightrocket | Getty Images Britain’s competition regulator on Tuesday said that it is investigating to see if Google parent Alphabet’s partnership with artificial intelligence startup Anthropic has resulted in reduced competition. […]
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Lineage begins trading in the market’s largest IPO of 2024
Lineage, the largest temperature-controlled warehouse real estate investment trust (REIT) in the world, rose by as much as 5% in its Nasdaq Stock Market debut on Thursday, after going public under the ticker symbol “LINE.” Lineage priced 57 million shares at $78 apiece on Wednesday, near the top of its initial $70 to $82 target range. […]
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Wiz walks away from $23 billion deal with Google, will pursue IPO
Wiz has walked away from a $23 billion deal to be acquired by Google, in what would have been the search giant’s largest-ever deal, telling employees it would pursue an initial public offering as it initially planned. “Saying no to such humbling offers is tough,” Wiz co-founder Assaf Rappaport said in a memo obtained by […]
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