mergers and acquisitions

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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...

FTC Wins Order Blocking Coach-Michael Kors Deal

FTC opposed the acquisition, saying it would reduce competition

(Newser) - A judge has agreed with the Federal Trade Commission, ruling Thursday that brands including Coach, Kate Spade, Michael Kors, Versace, and Jimmy Choo do not belong under one roof. Tapestry, which owns the Coach label, had reached an $8.5 billion deal to acquire Capri, a rival whose lines include...

True Value Declares Bankruptcy
True Value Files for Bankruptcy
Oct 15, 2024 1:30 AM CDT

True Value Files for Bankruptcy

Hardware chain's operations are being sold to a rival

(Newser) - A hardware company founded in 1948 is going out of business. True Value announced Monday that it has filed for Chapter 11 bankruptcy and that almost all of its assets and operations will be sold to a rival, Do it Best. However, True Value's 4,500 independently operated locations...

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...

Sale of US Steel to Japanese Firm Clears Major Hurdle

Board rules in favor of US Steel in union dispute

(Newser) - An arbitration board has cleared the way for the acquisition of US Steel by Nippon Steel to proceed. The board, jointly chosen by US Steel and the United Steelworkers union, ruled in favor of US Steel, saying terms of the successorship clause in its basic labor agreement had been met,...

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...

7-Eleven Parent Company on Canadian Takeover Bid: Um, No

Offer 'grossly undervalues' Japanese firm, committee chair says

(Newser) - 7-Eleven's Japanese parent company has rejected a takeover bid that would have created the world's fourth-biggest retail company. Stephen Dacus, chair of a committee of independent directors tasked with considering Alimentation Couche-Tard's bid for Seven & i, said the Canadian company's bid is "opportunistically timed"...

US Steel Warns Its Sale Had Better Go Through

CEO says plants will close, headquarters will move south from Pittsburgh if Nippon deal fails

(Newser) - You can count President Biden , former President Trump, and Vice President Kamala Harris as being in agreement on at least one thing—all are against the proposed sale of US Steel to a decidedly non-US steelmaker, Japan's Nippon Steel. But as the Wall Street Journal reports, US Steel CEO...

Mars to Spend $36B to Get a Lot Saltier

Company to acquire Pringles and Cheez-It maker Kellanova

(Newser) - Mars is about to become an even bigger food behemoth after announcing "one of the largest food deals in years" on Wednesday, reports the New York Times . The privately owned maker of M&M's and Snickers will acquire Kellanova in an all-cash deal that values the company at...

Startup Rejects Google's Staggering Acquisition Offer

Cybersecurity firm Wiz turns down $23B deal, which would been Google's biggest ever

(Newser) - Thanks, but no thanks. That's the message cybersecurity startup Wiz delivered to Google as it rejected a $23 billion takeover offer, reports CNBC . It would have been Google's biggest acquisition ever. "Saying no to such humbling offers is tough," Wiz co-founder Assaf Rappaport wrote in a...

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...

Saks Is Buying High-End Rival in a Deal That Cuts in Amazon

$2.65B agreement makes Neiman Marcus part of Saks Global

(Newser) - Saks Fifth Avenue and Neiman Marcus announced Thursday that after months of negotiations, they're ending their high-end competition. The boards of both privately held companies have approved the agreement, which calls for Saks' parent company to acquire its rival for $2.65 billion and create a new group called...

Boeing Flips 2-Decade Strategy With $4.7B Acquisition

Company says it will buy Spirit AeroSystems, which it previously owned

(Newser) - Boeing announced plans to acquire key supplier Spirit AeroSystems for $4.7 billion, a move that it says will improve plane quality and safety amid increasing scrutiny by Congress, airlines, and the Department of Justice. Boeing previously owned Spirit, and the purchase would reverse a two-decade strategy of outsourcing key...

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...

Dollar Tree Wants to End Its 'Disastrous Merger'

Company announces it would like to sell or spin off Family Dollar chain

(Newser) - Dollar Tree is seeking to put an end to what CNN calls its "disastrous merger" with Family Dollar. The parent company on Wednesday announced it's looking into selling or spinning off Family Dollar, which it bought for $8.5 billion in 2015. The thinking at the time was...

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...

T-Mobile to Buy Majority of US Cellular
T-Mobile Makes a Big Purchase
May 28, 2024 8:27 AM CDT

T-Mobile Makes a Big Purchase

Company to gain 4M customers in $4.4B US Cellular deal

(Newser) - T-Mobile is buying US Cellular's wireless operations and certain spectrum assets in a deal valued at $4.4 billion that further consolidates the industry. T-Mobile would get more than 4 million new customers and control of US Cellular's wireless operations and about 30% of spectrum assets across several...

Home Depot Announces $18.25B Acquisition

In its biggest-ever deal, company is buying materials provider SRS Distribution

(Newser) - Home Depot has announced the largest acquisition in its history. The company will buy SRS Distribution, a materials provider for professionals, in a deal valued at approximately $18.25 billion, the AP reports. With the deal, Home Depot steps more aggressively into the fast growing professional builder and contractor business....

$3.8B JetBlue-Spirit Airlines Merger Is No More

After court blocked the deal, airlines say they're unlikely to meet regulatory hurdles by the deadline

(Newser) - JetBlue and Spirit Airlines are ending their proposed $3.8 billion combination after a court ruling blocked their merger, reports the AP . JetBlue said Monday that even though both companies still believe in the benefits of a combination, they were unlikely to meet the required closing conditions before the July...

FTC Sues to Block Massive Grocery Merger

Kroger and Albertsons want to merge in the biggest such deal in US history

(Newser) - The Federal Trade Commission sued to block a proposed merger between grocery giants Kroger and Albertsons, reports the AP , saying the $24.6 billion deal would eliminate competition and lead to higher prices for millions of Americans. The FTC filed a lawsuit in US District Court in Oregon on Monday....

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