acquisition

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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...

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...

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...

Capital One-Discover Deal Faces 'Gale-Force Headwinds'
Capital One-Discover Deal
Seen as 'Dangerous'
THE RUNDOWN
Feb 21, 2024 9:03 AM CST

Capital One-Discover Deal Seen as 'Dangerous'

Sen. Elizabeth Warren leads charge against $35B merger, saying it will hurt 'working people'

(Newser) - Capital One announced on Monday that it was buying Discover Financial Services, in a $35 billion deal to combine two of the nation's largest credit-card firms. But experts say it will take at least a year for the merger to be completed, and there's already pushback from advocacy...

Big Layoffs at Roomba After Amazon Deal Falls Through

Companies say the planned acquisition is off

(Newser) - Amazon and Roomba won't be getting together after all. The retail giant and vacuum maker iRobot said Monday that Amazon's planned acquisition is off, reports the Wall Street Journal . The deal had faced big regulatory hurdles in Europe and the US. Amazon will pay the Massachusetts company a...

Japan's Nippon Steel Scoops Up US Steel for $14B

New combined company will be among top 3 steel-producing companies in the world

(Newser) - US Steel, the Pittsburgh steel producer that played a key role in the nation's industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will...

Meta Unloads Giphy, Is Out Hundreds of Millions

Facebook parent sells GIF search engine to Shutterstock for $53M after UK regulators' decision

(Newser) - In 2020, Meta scooped up Giphy, a GIF search engine used by Facebook, Instagram, TikTok, and other platforms, for $400 million. On Tuesday, Facebook's parent company announced it had sold the product to stock image service Shutterstock for a mere $53 million—effectively taking a nearly $350 million loss....

UK Just Nixed the Biggest Tech Deal in History

Microsoft's $69B attempt to buy video game maker Activision scuttled over fears of stifling competition

(Newser) - British regulators have blocked Microsoft's $69 billion deal to buy video game maker Activision Blizzard over worries that it would stifle competition in the cloud gaming market. The UK's Competition and Markets Authority said in its final report Wednesday that "the only effective remedy" to the significant...

Pfizer Buys 'Goose That Is Laying the Golden Eggs'
Pfizer Buys 'Goose That Is
Laying the Golden Eggs'
the rundown
Mar 14, 2023 10:10 AM CDT

Pfizer Buys 'Goose That Is Laying the Golden Eggs'

It will acquire cancer biotech firm Seagen, which specializes in ADC treatments, for $43M

(Newser) - It's not Pfizer's priciest acquisition by a long shot , but the numbers are staggering anyway: The pharma giant will pay $43 billion in cash for Seagen, a cancer biotech company that has yet to be profitable. What you need to know:
  • What Seagen does. The Washington-based company uses
...

FTC Sues to Block Microsoft's Takeover of Activision Blizzard

But Microsoft has good shot of winning a legal challenge

(Newser) - The Federal Trade Commission said Thursday it is suing to block Microsoft’s planned $69 billion takeover of video game company Activision Blizzard, saying it could suppress competitors to its Xbox game consoles and its growing games subscription business. The FTC voted 3-1 to issue the complaint after a closed-door...

Netflix Signs Biggest Content Deal Yet

Streaming service buys Roald Dahl's entire catalog, plans 'unique universe'

(Newser) - Netflix has acquired the rights to the estate of Roald Dahl, the late British novelist who brought us some of the most beloved children's books of all time, with plans to create a "unique universe" of offerings based on those works. The company has purchased the Roald Dahl...

Amazon Makes Its 2nd-Largest Acquisition

It will buy MGM Studios for $8.45B in deal announced Wednesday

(Newser) - Amazon has made "its boldest move yet into the entertainment industry" with its planned acquisition of movie and TV giant MGM Studios, per CNBC . The company announced Wednesday that it would buy the studio for $8.45 billion, thereby adding MGM's 4,000 films —including the James ...

Not-So-Sweet News for Friendly's Chain
Another Corporate
Casualty of COVID
Nov 2, 2020 10:00 AM CST

Another Corporate Casualty of COVID

Friendly's restaurant chain, known for its ice cream sundaes, has filed for Chapter 11

(Newser) - Friendly's Restaurants, an East Coast dining chain known for its sundaes, is filing for bankruptcy protection. The company, which runs its restaurants under the parent company FIC Restaurants Inc., will sell substantially all of its assets to the restaurant company Amici Partners Group, per the AP . All 130 of...

DOJ Approves $26.5B Deal. Now, a 'Disruptive Force in Wireless'

T-Mobile greenlit to take over Sprint, while Dish now enters the arena as 4th big wireless company

(Newser) - US regulators are approving T-Mobile's $26.5 billion takeover of rival Sprint, despite fears of higher prices and job cuts. Friday's approval by the Justice Department and five state attorneys general comes after Sprint and T-Mobile agreed to conditions that would set up satellite-TV provider Dish as a...

The 6 Things to Know About Disney's Goliath Acquisition
At 12:02am, Disney Made
a World-Shaking Acquisition
THE RUNDOWN
Mar 20, 2019 6:47 AM CDT

At 12:02am, Disney Made a World-Shaking Acquisition

Its $71B purchase of 21st Century Fox properties is complete

(Newser) - "Disney had been a mere behemoth," observes the New York Times . At 12:02am Wednesday, it became something greater, a Goliath among Davids. That's thanks to the closing of its $71.3 billion acquisition of 21st Century Fox properties, transforming Disney into an entertainment company of unprecedented...

As Michael Kors, Versace Merge, a Big Name Change

After $2.1B buy goes through, new company will be called Capri Holdings

(Newser) - Michael Kors is buying the Italian fashion house Gianni Versace in a deal worth more than $2 billion, continuing its hard charge into the world of high-end fashion. The deal announced Tuesday follows the New York handbag maker's $1.35 billion acquisition last year of the shoemaker Jimmy Choo,...

SiriusXM Is Buying Pandora Media
SiriusXM Is Buying Pandora
Sep 24, 2018 11:10 AM CDT

SiriusXM Is Buying Pandora

In an all-stock $3.5B deal

(Newser) - Subscription radio company SiriusXM says it's buying music streaming service Pandora Media Inc. in a stock deal valued at about $3.5 billion that'll allow it to expand its service beyond cars and into homes and other mobile areas. Pandora stockholders will receive 1.44 newly issued SiriusXM...

Blowback Against Plastic Straws Is Great News for This Company

Indiana's Aardvark Straws makes a paper version, and the company was just purchased

(Newser) - The sole US producer of paper straws has been bought up in the latest sign that plastic straws are becoming a thing of the past . In a deal announced Monday, disposable tableware manufacturer Hoffmaster Group will acquire Indiana-based Aardvark Straws, whose degradable and compostable paper straws have been in high...

Walmart's Huge Bet on India Involves Short-Term Pain

Pays $16B for stake in Flipkart

(Newser) - Walmart is breaking into India's massive and growing consumer market with its biggest acquisition yet, spending $16 billion for a controlling stake in the online retailer Flipkart, whose delivery drivers, with their motorcycles and oversized backpacks, have become ubiquitous across the nation of 1.3 billion people. Flipkart's...

Nestle's 3rd Biggest Acquisition in 152 Years Involves Starbucks

Paying $7B for right to sell Starbucks beans, ground coffee, pods

(Newser) - How much does it cost to secure the right to sell Starbucks coffee? Nestle says the answer to that question is $7.15 billion, the amount it on Monday announced it would pay Starbucks for a business whose annual sales total $2 billion, reports the AP . The acquisition, the third-biggest...

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