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“Forbes scraps plan to go public via SPAC merger” Forbes Global Media, the publisher of Forbes magazine, said it’s doing an about-face on its plans to go public through a merger with a blank-check acquisition firm. The deal, which was announced in August, would have taken the 104-year-old magazine and digital publisher public at a $630…
“SEC probing Elon Musk’s Twitter stake purchase” The Securities and Exchange Commission is looking into Tesla Chief Executive Officer Elon Musk’s disclosure of his stake in Twitter in early April, according to a letter the agency sent to him in April. In the letter, now made public by the SEC, the regulator asks Musk why it appears he…
“Chipmaker Broadcom to buy VMware in $61 billon deal” Computer chip and software maker Broadcom will spend about $61 billion to acquire the cloud technology company VMware, one of the biggest deals of the year despite an environment of rising inflation and economic uncertainty. The proposed deal comes just weeks after billionaire and Tesla CEO…
“Jack Dorsey ‘backstabbing’ led to Elon Musk bid: Twitter co-founder” Former Twitter CEO Jack Dorsey served the company on a platter to Elon Musk by “backstabbing” the company’s board of directors, one of the social media giant’s co-founders alleged. Jason Goldman, a former member of the board who was part of Twitter’s founding team more…
“Elon Musk pledges more equity to fund Twitter deal” Elon Musk on Wednesday pledged an additional $6.25 billion in equity financing to fund the $44 billion offer for Twitter, reducing the billionaire’s margin loan against his Tesla shares to zero. The disclosure made in a regulatory filing on Wednesday signaled Musk is working to complete the deal even though he had last week linked its…
“Kohl’s braces for bidders to slash takeover offers: report” Bidders competing to acquire Kohl’s are preparing to make binding offers that are lower than the indicative bids they submitted earlier this year to reflect the market downturn and the retailer’s deteriorating business, people familiar with the matter said. The bidders, which include private equity firm Sycamore Partners,…
“Elon Musk likely Twitter’s only option as buyout financing dries up” Twitter’s agreement to sell itself for $44 billion to Elon Musk looks shaky — but the deal may be the struggling social network’s only option for a sale as buyout financing dries up amid soaring interest rates and crashing stock prices for tech companies,…
“Snoop Dogg says he might have to buy Twitter while Elon Musk’s bid is on hold” Rapper Snoop Dogg said he may swoop in to buy Twitter now that Elon Musk’s $44 billion bid to buy the social media company is on hold. Musk’s announcement Friday that the deal is “temporarily on hold” over the…
“CNN gave staffers CNN+ ‘gift boxes’ after firing them: report” Ex-staffers at CNN+, who were fired last month after the month-old streaming service was abruptly shut down, got gift boxes the following week that were filled with CNN+ swag, according to a report. CNN’s new parent company Warner Bros. Discovery delivered a “gut punch” to…
“Kohl’s fends off activist investor’s bid to reshuffle board” Kohl’s shareholders rejected a bid by activist investor Macellum Advisors to replace as many as 10 of its 13 directors, supporting the retailer’s current board as the company explores a sale. Hedge fund Macellum had called for 10 of the board’s 13 members to be replaced,…