mergers

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Japan's Nippon Steel Scoops Up US Steel for $14B

New combined company will be among top 3 steel-producing companies in the world

(Newser) - US Steel, the Pittsburgh steel producer that played a key role in the nation's industrialization, is being acquired by Nippon Steel in an all-cash deal valued at approximately $14.1 billion. The transaction is worth about $14.9 billion when including the assumption of debt. The combined company will...

One Big Oil Company Will Absorb Another, for $53B

Chevron is buying Hess, just weeks after Exxon Mobil made its own $60B acquisition

(Newser) - Chevron is buying Hess Corp. for $53 billion as the biggest US oil companies use a recent windfall in profits to buy up smaller competitors. The Chevron-Hess deal comes less than two weeks after Exxon Mobil said it would acquire Pioneer Natural Resources for about $60 billion, per the AP...

Twinkies Maker Hostess Sells in $5.6B Deal
An Iconic Snack-Maker Sells
Sep 11, 2023 11:02 AM CDT

An Iconic Snack-Maker Sells

JM Smucker picks up a new acquisition, Twinkies maker Hostess, for $5.6B

(Newser) - Hostess, the maker of snack classics like Twinkies and HoHos, is being sold to JM Smucker in a deal worth about $5.6 billion, reports the AP . Smucker, which makes everything from coffee to peanut butter and jelly, will pay $34.25 per share in cash and stock, and it...

Campbell Soup Is Making a $2.7B Buy
Campbell Soup
Just Made a Big Buy
Aug 8, 2023 9:40 AM CDT

Campbell Soup Just Made a Big Buy

Venerated soup-maker is picking up Sovos, the maker of Rao's pasta sauces, for $2.7B

(Newser) - Campbell Soup is set to buy Sovos Brands, the maker of Rao's pasta sauces. The two companies said in an announcement that they had entered an agreement for Campbell to acquire Sovos for $23 per share in cash—reflecting a total value of about $2.7 billion, the AP...

Golf May Never Be the Same After Stunning Merger
PGA Chief's About-Face
Came in Secret Meeting
the rundown
Jun 7, 2023 10:25 AM CDT

PGA Chief's About-Face Came in Secret Meeting

Jay Monahan once reviled the Saudi LIV tour, but he then agreed to a stunning merger

(Newser) - A lot of words are being thrown around to describe what happened in the world of golf on Tuesday: Shocking, stunning, hypocritical (from the critics), to name a few. One thing clear, though, is that "Tuesday was unlike any other [day] in golf history," writes Brendan Quinn at...

'Stunning' Merger Pairs PGA With Saudi's LIV Tour

Agreement appears to end an acrimonious year in world of pro golf

(Newser) - The most disruptive year in golf ended Tuesday when the PGA Tour and European Tour agreed to a merger with Saudi Arabia's golf interests, creating a commercial operation designed to unify professional golf around the world, per the AP . As part of the deal, the sides are dropping all...

Budget Airline Merger Could Create 5th-Largest US Carrier

Frontier has offered $3B to scoop up Spirit Airlines

(Newser) - Frontier is offering to buy Spirit Airlines in a $2.9 billion cash-and-stock deal that will create the nation's fifth largest carrier. The tie-up is valued at $6.6 billion when accounting for the assumption of debt and other liabilities. The companies said Monday that the transaction will provide...

Uber Might Buy GrubHub
Uber Might Swallow GrubHub
May 12, 2020 3:36 PM CDT

Uber Might Swallow GrubHub

Merger would create food-delivery market leader

(Newser) - Uber might be preparing to swallow GrubHub in a deal that would create a clear market leader in the burgeoning food-delivery business. Sources tell the Wall Street Journal that Uber, which is focusing on its Uber Eats unit as ride-sharing slumps, approached GrubHub with a takeover offer earlier this year...

On Wall Street, One of Biggest Deals Since Financial Crisis

Morgan Stanley will scoop up the online brokerage for $13B

(Newser) - Investment bank Morgan Stanley announced it would buy the online brokerage E-Trade for roughly $13 billion, one of the biggest deals on Wall Street since the financial crisis. The deal also is the latest chapter in Morgan Stanley's transformation from a scrappy, deal-doing, stock-trading investment bank to a more...

Feds Sue to Block a Big Shaving Merger

Schick is trying to buy Harry's

(Newser) - Federal antitrust regulators say a proposed merger that would combine old-school shaving company Schick with upstart Harry's would end up costing consumers some skin. The Federal Trade Commission on Monday sued to block Edgewell Personal Care Co.'s $1.37 billion acquisition of Harry's, which was supposed...

New Giant Is Born in Defense Industry
New Giant Is Born
in Defense Industry
Jun 10, 2019 10:10 AM CDT

New Giant Is Born in Defense Industry

After merger, Raytheon Technologies will be 2nd to Boeing in aerospace and defense industry

(Newser) - In the lucrative aerospace and defense industry, the top two companies are Boeing and Lockheed Martin. But assuming a giant new merger goes through, the top rankings will have to be reordered: Boeing ($101 billion in annual revenue) will remain No. 1, Lockheed ($53.7 billion) will fall to No....

A Giant Merger Is Cleared, Despite DOJ Objections

Appeals court blesses AT&T acquisition of Time Warner

(Newser) - A federal appeals court has cleared AT&T's takeover of Time Warner, rejecting a challenge from the Trump administration, per the AP . The ruling by the US Court of Appeals in Washington came Tuesday in the high-stakes case, approving one of the biggest media marriages ever. The appeals court...

This $69B Deal May Reshape Health Care as We Know It

Proposed CVS-Aetna merger is approved by the DOJ

(Newser) - On Wednesday, CVS all but "cemented the deal" to buy Aetna for $69 billion, by scoring the Justice Department's preliminary approval of the deal, reports CNBC . With that green light comes a condition: that Aetna complete its plan to unload its Medicare Part D prescription drug plan business,...

AT&T Pondering Huge 'Land Grab' Media Merger

Sources say firm is in talks with Time Warner

(Newser) - A new communications behemoth may be emerging soon: Insiders tell Bloomberg that over the last few weeks, senior execs from AT&T and Time Warner have been discussing strategies including a possible merger. Reuters notes that telecom companies like AT&T have been making a "land grab" for media...

Dish May Merge With T-Mobile: 3 Reasons to Care

Purchase price hasn't been agreed upon

(Newser) - Today's merger rumblings: Dish Network and T-Mobile are in talks to merge, sources tell the Wall Street Journal . Though details, including a purchase price, have yet to be finalized, the companies agree that Dish CEO Charlie Ergen would be chairman of the combined company, while T-Mobile CEO John Legere...

New Real Estate Behemoth: Zillow Buys Trulia for $3.5B

All-stock deal may drastically affect real estate agents' livelihood

(Newser) - Apparently, we're starting the workweek with competitors eating each other for breakfast. First Dollar Tree announced it would be buying rival Family Dollar, and now real estate heavyweight Zillow is snatching up competitor Trulia for a hefty $3.5 billion, reports the AP . The all-stock deal will result in...

Takeout Tycoons GrubHub and Seamless Merge

Food delivery websites join to stave off competitors

(Newser) - Yahoo and Tumblr weren't the only online properties getting into bed together today: GrubHub and Seamless, two of the largest food-delivery websites in the US, have announced a merger, combining forces to fend off an increasing number of startup rivals, Bloomberg reports. "This has nothing to do...

Avis Buying Zipcar for $500M


 Avis Buying Zipcar for $500M 
Jan 2, 2013 7:16 AM CST

Avis Buying Zipcar for $500M

Car-sharing company's stock has been rising

(Newser) - Car renting meets car sharing? Avis Budget Group has agreed to buy Zipcar for around $500 million, the Wall Street Journal reports. Avis will pay $12.25 per share, a 49% premium over Zipcar's closing price Monday. Zipcar's stock has risen in recent months as car sharing grows...

Justice Dept. Sues to Block AT&T's Bid to Buy T-Mobile

Says combining No. 2 and No. 4 carrier would raise prices

(Newser) - AT&T tried to sugarcoat its $39 billion deal to buy T-Mobile USA by announcing this morning that it would, as a result of the merger, return 5,000 call-center jobs to US shores. But it still wasn't sweet enough for the Justice Department, which has filed suit to...

Dear Feds: Don't You Dare Let AT&T Buy T-Mobile

Say goodbye to competition, hello to gouging

(Newser) - AT&T's bid to buy T-Mobile is brilliant, writes Brett Arends for MarketWatch —for AT&T. For everyone else, it's "disastrous," if not downright anticompetitive. "It will let AT&T shut down a competitor, jack up prices, and save on customer service," he writes in...

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