Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images Shares of Digital World Acquisition Corp. soared about 30% on Monday after an appeals court substantially reduced the bond former President Donald Trump has to post in a civil fraud case, and the company announced it will start trading as DJT on Tuesday. The appeals court … Read more
Joe Kiani, CEO, Masimo Scott Mlyn | CNBC Health-tech company Masimo, best known for its successful patent litigation over the Apple Watch, is facing a proxy fight for the second time in two years — from the same activist investor who now sits on the company’s six-person board. Quentin Koffey’s Politan Capital, a roughly 9% … Read more
Nurphoto | Nurphoto | Getty Images Tinder and Hinge operator Match Group added two new directors and signed an agreement with Elliott Management, months after the activist investor was reported to have taken a stake in the company, Match announced on Monday. Instacart Chief Marketing Officer Laura Jones and Zillow co-founder Spencer Rascoff will join … Read more
Vodafone announced plans to cut 11,000 jobs as part of a turnaround plan from the company’s newly-appointed CEO Margherita Della Valle. Paul Hanna | Bloomberg | Getty Images The U.K.’s Competition and Markets Authority on Friday said Vodafone’s proposed merger with rival CK Hutchison will face an in-depth probe, unless the two mobile operators provide … Read more
SAN FRANCISO — Gerald Levin, who led Time Warner Media into a disastrous $182 billion merger with the internet provider America Online, died Wednesday at the age of 84, according to media reports. Levin had been diagnosed with Parkinson’s disease, although his cause of death was not immediately reported. The former executive’s grandchild, Jake Maia … Read more
Visitors are visiting TikTok’s stand at the Appliance & Electronics World Expo (AWE) in Shanghai, China, on April 27, 2023. On March 14, 2024, the United States will pass a bill banning TikTok. CostFoto | Nurphoto | Getty Images The U.S. could be about to force ByteDance, the Chinese tech giant that owns TikTok, to … Read more
Disney CEO Robert Iger attends the 95th Annual Academy Awards at the Dolby Theatre in Hollywood, California on March 12, 2023. Valerie Macon | AFP | Getty Images Activist investor Blackwells said Monday that Disney‘s board had not disclosed that shareholder ValueAct Capital had a financial relationship with the entertainment company, putting the firm’s endorsement … Read more
An exterior view of the Advance Auto Parts store at the Sunbury Plaza, Sunbury, Pennsylvania. Paul Weaver | SOPA Images | Lightrocket | Getty Images Dan Loeb’s Third Point and activist Saddle Point have a stake in Advance Auto Parts and reached a settlement with the company that will give the activists three board seats, … Read more
Bymuratdeniz | E+ | Getty Images With regulators exerting more scrutiny on mergers and acquisitions, managing risk is increasingly important for companies planning nuptials. One time-honored corporate M&A prenup strategy, which could become more important going forward, is the use of break-up fees, also known as termination fees. These fees — paid by the buyer, … Read more
Mike Wirth, CEO of Chevron and John Hess, CEO of Hess, appear on CNBC to speak about Chevron’s deal to buy Hess Corp for $53 billion all-stock deal, on the floor of the New York Stock Exchange (NYSE) in New York City, October 23, 2023. Brendan McDermid | Reuters Hess Corp. is reviewing the timeline for … Read more
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