Siete Foods Tortilla Chips Courtesy: Siete Foods PepsiCo said Tuesday that it’s buying Mexican American food company Siete Foods for $1.2 billion, marking the company’s first food acquisition in roughly five years. Like many food companies, Pepsi has been trying to shift its portfolio to include healthier options in recent years, usually through acquisitions. Recent … Read more
People walk along London Bridge past the City of London skyline. Sopa Images | Lightrocket | Getty Images London-based online trading platform Freetrade told CNBC Tuesday that it’s agreed to buy the U.K. customer book of Stake, an Australian investing app. The move is part of a broader bid from Freetrade to bolster its domestic … Read more
CVS Pharmacy logo is seen at store in Florida Keys, United States on May 7, 2024. Jakub Porzycki | Nurphoto | Getty Images Glenview Capital, a major CVS Health shareholder, is expected to meet with company leadership on Monday to lay out proposed fixes for the struggling business, according to people familiar with the matter, … Read more
Charlie Ergen, chairman and co-founder of Dish Network Corp. Jonathan Alcorn | Bloomberg | Getty Images Charlie Ergen is getting close to selling the pay-TV business he founded more than 40 years ago. EchoStar is in advanced talks to sell satellite TV provider Dish Network to rival DirecTV, the closely held pay TV operator owned … Read more
A Commerzbank AG bank branch, in the financial district of Frankfurt, Germany, on Thursday, Sept. 12, 2024. Krisztian Bocsi | Bloomberg | Getty Images Commerzbank and UniCredit are set to begin talks Friday, with the German bank on the defensive over a potential takeover after its Italian counterpart unexpectedly increased its stake earlier this month. … Read more
U.S. Steel CEO David Burritt on Tuesday defended the company’s planned sale to Japan’s Nippon Steel, expressing confidence that the deal will be completed despite President Joe Biden’s vocal opposition. “We strongly believe the deal closes on its merits,” Burritt said in an interview on CNBC’s “Money Movers.” “It strengthens national security, it strengthens economic … Read more
A Southwest Airlines Boeing 737 departs Los Angeles International Airport en route to Las Vegas on September 19, 2024 in Los Angeles, California. Kevin Carter | Getty Images Elliott Management said Tuesday it will call a special meeting at Southwest Airlines “as soon as next week,” shortly after the company put forward a sweeping board shake-up … Read more
The Masimo logo is displayed at Masimo headquarters in Irvine, California, on Dec. 27, 2023. Mario Tama | Getty Images Activist investor Politan Capital won the two board seats it was seeking at medical technology company Masimo, defeating founder and CEO Joe Kiani and another director, Chris Chavez, at the shareholder vote. Masimo shares rose … Read more
Close-up of sign at entrance to Silicon Valley headquarters of outsourcing and freelancing company Upwork, Mountain View, California, May 3, 2019. Smith Collection | Gado | Archive Photos | Getty Images Activist investor Engine Capital has a roughly 4% stake in freelance marketplace Upwork and is pushing for a shakeup to the company’s board. In … Read more
Norfolk Southern former Chief Executive Alan Shaw testifies during a Senate Commerce, Science and Transportation Committee hearing titled “Improving Rail Safety in Response to the East Palestine Derailment” in Washington, March 22, 2023. Evelyn Hockstein | Reuters Norfolk Southern CEO Alan Shaw is out effective immediately after the board determined he engaged in a consensual … Read more
