Igor Golovniov| Lightrocket | Getty Images Industrial technology company Trimble announced on Tuesday it would buy back up to $800 million worth of shares and add two directors to its board, just a few weeks after activist investor Jana Partners disclosed a stake in the company. Ron Nersesian and Kara Sprague will join Trimble’s board effective … Read more
Gildan apparel at a store in Montreal, Quebec, Canada, on Friday, Dec. 15, 2023. Graham Hughes | Bloomberg | Getty Images The board of directors for Gildan Activewear, facing pressure from activists to reinstate the company’s fired CEO, have agreed on Monday to call a special meeting that could determine who ends up at the … Read more
Christian Sewing, Chief Executive Officer of Deutsche Bank, has acknowledged that a recession in Germany is inevitable, and urged leaders to accelerate its decoupling from China. Denis Balibouse | Reuters Deutsche Bank CEO Christian Sewing on Thursday said that merger and acquisition activity is not a priority for his group, as speculation resurfaces over the … Read more
Burger King fast food restaurant with menu and customers. Jeff Greenberg | Universal Images Group | Getty Images Restaurant Brands International is buying Carrols Restaurant Group, the largest Burger King franchisee in the U.S., for about $1 billion in cash. Restaurant Brands will pay $9.55 per share to acquire Carrols, which operates more than 1,000 … Read more
NEW YORK — Drugmaker Bristol Myers Squibb is acquiring Karuna Therapeutics, a biopharmaceutical company that has developed a new antipsychotic, in a $14 billion deal. Bristol Myers Squibb and Karuna announced their merger agreement on Friday. The transaction, which amounts to $330 per share in cash, offers a premium of 53% over Karuna’s stock on … Read more
Darren Woods, CEO of ExxonMobil, speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., December 7, 2023. Brendan Mcdermid | Reuters Exxon Mobil CEO Darren Woods on Thursday dismissed worries that the Federal Trade Commission could hold up the oil giant’s pending acquisition … Read more
Herman Narula, co-founder and CEO of Improbable, speaks during a session at the Web Summit in Lisbon. Henrique Casinhas | Sopa Images | Lightrocket | Getty Images Metaverse company Improbable has sold one of its key gaming ventures to London-listed video game developer Keywords Studios for £76.5 million ($97.1 million). The company closed the deal … Read more
A Google, Temasek and Bain & Company report revealed that “dry powder” increased to $15.7 billion at the end of 2022, up from $12.4 billion in 2021. Mikroman6 | Moment | Getty Images Venture capital firms in Southeast Asia expect fundraising to pick up in 2024, but tech firms need to demonstrate “clear” and “viable” … Read more
Adobe and Figma, the cloud-based design tool, will terminate their planned $20 billion merger in light of regulatory hurdles, the companies said Monday. In a statement, the two companies said, “there is no clear path to receive necessary regulatory approvals from the European Commission and the UK Competition and Markets Authority.” Adobe shares rose around … Read more
