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“#Victoria’s Secret has soared in value during the pandemic” Victoria’s Secret is about to hit the block again — and the company’s price tag is set to grow a few sizes. Less than a year after a $1 billion deal to sell the struggling lingerie label got scrapped with the onset of the coronavirus crisis,…
“#Lucid Motors SPAC shares tank after deal to go public” Shares of a blank-check company that’s set to merge with electric-car maker Lucid Motors tumbled Tuesday after it inked a deal to take the Tesla rival public. Churchill Capital Corp IV — a special purpose acquisition company, or SPAC, backed by former Citigroup banker Michael Klein…
“#Nestle sells Poland Spring, other water brands for $4.3B” Nestle is selling its North American bottled water business to a pair of private equity firms in an effort to focus on high-end hydration products. One Rock Capital Partners and Metropoulos and Co. will pay $4.3 billion for eight Nestle water brands — including Poland Spring,…
“#ByteDance reportedly scraps deal to sell TikTok to Oracle” TikTok’s Chinese parent company has scrapped its plans to sell the video-sharing app’s US operations, according to a new report. Beijing-based tech giant ByteDance has shelved its proposed deal with American firms Oracle and Walmart now that former President Donald Trump is out of office, the…
“#Iconic American gun maker Colt sold to Czech firm” A Czech firearms company has reached a deal to buy Colt, the iconic American gunmaker that helped popularize the revolver. Česká zbrojovka Group said it will acquire all of Colt’s business for $220 million and about 1.1 million new shares of the Czech firm’s stock. The…
“#23andMe going public with help of Richard Branson-backed SPAC” A blank-check firm backed by Virgin Group founder Sir Richard Branson is taking consumer DNA-testing firm 23andMe public in a deal that values the merged entity at $3.5 billion, the companies said Thursday. As part of the deal with VG Acquisition, 23andMe will receive proceeds of $759 million, which includes…
“#ExxonMobil, Chevron reportedly discussed merger last year” The heads of ExxonMobil and Chevron considered merging the two oil giants last year in a deal that may have been the largest corporate marriage ever, according to reports. Exxon CEO Darren Woods and Chevron chief Mike Wirth discussed the megadeal after the start of the coronavirus outbreak…
“#Former CBS stockholders can sue Shari Redstone over ViacomCBS merger” CBS shareholders can pursue a lawsuit over the 2019 merger of Viacom and CBS, a Delaware judge ruled late Thursday. Shari Redstone, the daughter of late media mogul Sumner Redstone, and former acting chief executive of CBS Joe Ianniello are at the center of the…
“#Digital-media coronavirus survivors’ urge to merge” Digital-media companies that survived the pandemic are now rushing to join forces as they scramble to battle the tech giants for ad dollars. The most recent example is a bit complex as it involves an esoteric — but wildly popular — financial vehicle known as a Special Purpose Acquisition…
“#Office Depot rejects Staples offer, sends counterproposal” Office Depot rejected a takeover offer from its archrival Staples on Tuesday, instead offering a counterproposal that it said would invite less scrutiny from antitrust regulators. The office supply chain said it would be open to combining its retail and e-commerce business with Staples, which would leave essentially…