A U.S. judge ruled on Tuesday that Microsoft can proceed with its planned acquisition of videogame maker Activision Blizzard for $69 billion after the European Union (EU) approved the deal between the two gaming companies. Britain’s Competition and Markets Authority (CMA) objected to the deal in April, arguing that it hurts consumers and that it was…
Christian Church Buys Disney’s Last Radio Station
June 20, 2023
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The Walt Disney Company has sold its last radio station, KRDC, to religious broadcaster Calvary Chapel Costa Mesa for $5 million. Disney filed an application with the Federal Communications Commission (FCC) to transfer the radio station’s license to the religious broadcaster on Monday, reported The Desk. The purchase puts Calvary Chapel Costa Mesa into the AM radio…
Stellantis to Offer Buyouts Amid Electric Vehicle Transition
DETROIT—Another automaker is trying to cut its workforce to trim expenses and stay competitive as the industry makes the long and costly transition to electric vehicles. Stellantis on Wednesday said it’s offering buyouts to groups of white-collar and unionized employees in the U.S., as well as hourly workers in Canada. The cuts are “in response…
GM Offers Buyouts to Most US Salaried Workers to Trim Costs
DETROIT—General Motors is offering buyouts to most of its U.S. salaried workforce and some global executives in an effort to trim costs as it makes the transition to electric vehicles. The Detroit automaker wouldn’t say how many workers it is targeting, but confirmed that the move is aimed at accelerating attrition to meet a previously…
Poshmark Buyout Offer Falls Well Below IPO Price: Analysts Call It Fair—Is It?
When South Korean tech giant Naver confirmed earlier this week that it would purchase Poshmark Inc. at $17.90 per share, many observers said the offer was fair. Was it? After all, Poshmark—an Instagram-like site specializing in apparel resale—went public in 2021 at $42 a share. On Friday, it closed at $17.76. Here’s a look at…
France’s Schneider Considers Full Buyout of AVEVA
PARIS—French industrial conglomerate Schneider is considering buying out minority shareholders in software company AVEVA, it said on Wednesday, sending the British company’s share price up by more than 32 percent. Schneider, which already owns nearly 60 percent of AVEVA, said it would decide by 4 p.m. GMT on Sept. 21 whether to go ahead with…
China to Miss Boom in Asia Buyout Deals Despite Likely Easing of Crackdown
June 16, 2022
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HONG KONG—Buyout funds are set to extend a record spending spree in Asia to the rest of the year but they will be mostly seeking deals outside China, where concerns about the economy are likely to outweigh any easing of a regulatory crackdown, dealmakers said. Private equity mergers and acquisitions (M&A) activity in Asia, not…
Spirit Airlines, a Bidding War Target, Postpones Buyout Vote
Spirit Airlines, the target of a budget airline bidding war, is postponing a Friday shareholder vote on whether to accept one of those buyout offers after a flurry of counter-proposals from Frontier Airlines and JetBlue. The decision to postpone a vote comes two days after JetBlue improved its offer. Spirit said Wednesday that has rescheduled…
Toshiba Receives Interest From 10 Potential Investors
TOKYO—Japan’s beleaguered Toshiba Corp. said on May 13 that it has received interest from 10 potential investors after soliciting buyout offers. The conglomerate, long under pressure from activist shareholders, also announced a special dividend worth some $545 million, the second year in a row it has issued such a payout. Toshiba, which has since 2015…
HP Seeks to Ride Hybrid Work Boom With $1.7 Billion Poly Buyout
HP Inc. said on Monday it would buy audio and video devices maker Poly for $1.7 billion in cash as it looks to capitalise on the hybrid work led boom in demand for electronic products. Shares in HP, which expects the deal will position it for long-term growth, fell 1.4 percent in premarket trade. The…
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