mergers

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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...

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...

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...

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...

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...

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...

One Big Oil Company Will Absorb Another, for $53B

Chevron is buying Hess, just weeks after Exxon Mobil made its own $60B acquisition

(Newser) - Chevron is buying Hess Corp. for $53 billion as the biggest US oil companies use a recent windfall in profits to buy up smaller competitors. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion, per the AP...

Twinkies Maker Hostess Sells in $5.6B Deal
An Iconic Snack-Maker Sells
Sep 11, 2023 11:02 AM CDT

An Iconic Snack-Maker Sells

JM Smucker picks up a new acquisition, Twinkies maker Hostess, for $5.6B

(Newser) - Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to JM Smucker in a deal worth about $5.6 billion, reports the AP . Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it...

Campbell Soup Is Making a $2.7B Buy
Campbell Soup
Just Made a Big Buy
Aug 8, 2023 9:40 AM CDT

Campbell Soup Just Made a Big Buy

Venerated soup-maker is picking up Sovos, the maker of Rao's pasta sauces, for $2.7B

(Newser) - Campbell Soup is set to buy Sovos Brands, the maker of Rao's pasta sauces. The two companies said in an announcement that they had entered an agreement for Campbell to acquire Sovos for $23 per share in cash—reflecting a total value of about $2.7 billion, the AP...

Golf May Never Be the Same After Stunning Merger
PGA Chief's About-Face
Came in Secret Meeting
the rundown
Jun 7, 2023 10:25 AM CDT

PGA Chief's About-Face Came in Secret Meeting

Jay Monahan once reviled the Saudi LIV tour, but he then agreed to a stunning merger

(Newser) - A lot of words are being thrown around to describe what happened in the world of golf on Tuesday: Shocking, stunning, hypocritical (from the critics), to name a few. One thing clear, though, is that "Tuesday was unlike any other [day] in golf history," writes Brendan Quinn at...

'Stunning' Merger Pairs PGA With Saudi's LIV Tour

Agreement appears to end an acrimonious year in world of pro golf

(Newser) - The most disruptive year in golf ended Tuesday when the PGA Tour and European Tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world, per the AP . As part of the deal, the sides are dropping all...

Budget Airline Merger Could Create 5th-Largest US Carrier

Frontier has offered $3B to scoop up Spirit Airlines

(Newser) - Frontier is offering to buy Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday that the transaction will provide...

Uber Might Buy GrubHub
Uber Might Swallow GrubHub
May 12, 2020 3:36 PM CDT

Uber Might Swallow GrubHub

Merger would create food-delivery market leader

(Newser) - Uber might be preparing to swallow GrubHub in a deal that would create a clear market leader in the burgeoning food-delivery business. Sources tell the Wall Street Journal that Uber, which is focusing on its Uber Eats unit as ride-sharing slumps, approached GrubHub with a takeover offer earlier this year...

On Wall Street, One of Biggest Deals Since Financial Crisis

Morgan Stanley will scoop up the online brokerage for $13B

(Newser) - Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly $13 billion, one of the biggest deals on Wall Street since the financial crisis. The deal also is the latest chapter in Morgan Stanley's transformation from a scrappy, deal-doing, stock-trading investment bank to a more...

Feds Sue to Block a Big Shaving Merger

Schick is trying to buy Harry's

(Newser) - Federal antitrust regulators say a proposed merger that would combine old-school shaving company Schick with upstart Harry's would end up costing consumers some skin. The Federal Trade Commission on Monday sued to block Edgewell Personal Care Co.'s $1.37 billion acquisition of Harry's, which was supposed...

New Giant Is Born in Defense Industry
New Giant Is Born
in Defense Industry
Jun 10, 2019 10:10 AM CDT

New Giant Is Born in Defense Industry

After merger, Raytheon Technologies will be 2nd to Boeing in aerospace and defense industry

(Newser) - In the lucrative aerospace and defense industry, the top two companies are Boeing and Lockheed Martin. But assuming a giant new merger goes through, the top rankings will have to be reordered: Boeing ($101 billion in annual revenue) will remain No. 1, Lockheed ($53.7 billion) will fall to No....

A Giant Merger Is Cleared, Despite DOJ Objections

Appeals court blesses AT&T acquisition of Time Warner

(Newser) - A federal appeals court has cleared AT&T's takeover of Time Warner, rejecting a challenge from the Trump administration, per the AP . The ruling by the US Court of Appeals in Washington came Tuesday in the high-stakes case, approving one of the biggest media marriages ever. The appeals court...

This $69B Deal May Reshape Health Care as We Know It

Proposed CVS-Aetna merger is approved by the DOJ

(Newser) - On Wednesday, CVS all but "cemented the deal" to buy Aetna for $69 billion, by scoring the Justice Department's preliminary approval of the deal, reports CNBC . With that green light comes a condition: that Aetna complete its plan to unload its Medicare Part D prescription drug plan business,...

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