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
Signage at a Byju’s Tuition Center, operated by Think & Learn Pvt., in Mumbai, India, on Friday, Feb. 2, 2024. A unit of Byju’s, once one of India’s hottest tech startups, was put into bankruptcy in the US by a court-appointed agent who took over the shell company after it defaulted on $1.2 billion in … Read more
Igor Golovniov | Lightrocket | Getty Images A co-founder of telecommunications company Crown Castle has nominated a rival slate of directors to the firm’s board, muddying the waters months after activist investor Elliott Management and Crown Castle signed a cooperation agreement. Ted Miller, who helped launch the company in 1994, along with his investment vehicle … Read more
Customers visit Macy’s Herald Square store on December 17, 2023 in New York City. Kena Betancur | Corbis News | Getty Images Investment firm Arkhouse Management has launched a proxy fight at Macy’s, nominating a slate of nine directors for election to the department store’s board. Macy’s on Tuesday confirmed that it had received notice … Read more
