mergers

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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

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

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...

NYSE to Merge With Deutsche Böerse

Name of the new entity in question

(Newser) - Deutsche Böerse AG, the company that owns the Frankfurt Stock Exchange, has agreed to merge with NYSE Euronext, the company that owns the New York Stock Exchange, forming a new as-yet unnamed entity, the companies announced today. Deutsche Böerse will own 60% of the new company, which will...

Continental, United Merging Into World's Biggest Airline

New behemoth hopes to turn around losses

(Newser) - United and Continental Airlines are joining to form the world's largest airline in a $3 billion deal, the carriers will announce today. The merger will test the notion that the money-losing airline industry can work better on a large scale—and test the Obama administration's antitrust regulators. While the companies...

Recession Whacks Tinseltown Agents

(Newser) - Hollywood's toughest power brokers—the big shot "10 percenters" of the top talent agencies—are no longer immune to the recession, reports the Independent. With the merger between former rival agencies William Morris and Endeavor officially approved, 100 top agents got the ax. Officials of the new entity hope...

'Silent Run' Doomed Wachovia

Panic pushed FDIC to use unprecedented authority in Citigroup merger

(Newser) - Customers made a “silent run” on Wachovia as the North Carolina bank negotiated a buyout from Citigroup last week, the Charlotte Observer reports. Wachovia execs noticed customers withdrawing money from large accounts following Washington Mutual’s failure, lowering their balances to below the federally insured limit.

JPMorgan Chief Had Long Drooled Over WaMu

Firm writes down $31 billion in bad debt, but builds nation's largest bank

(Newser) - The failure of Washington Mutual was an opportunity for JPMorgan Chase CEO Jamie Dimon, who long held a desire to buy the bank, the Seattle Times reports, and saw its large West Coast presence as particularly attractive. Now Dimon, who incorporated Bear Stearns earlier this year, has used the credit...

Shareholders OK Delta-Northwest Merger

Deal awaits approval from antitrust regulators

(Newser) - Shareholders of Delta and Northwest voted nearly unanimously today to approve the airlines' merger, the Atlanta Journal-Constitution reports. With shareholders in agreement, federal antitrust regulators must now approve the deal. A Justice Department decision is expected late this year, but labor issues remain. Dozens of workers protested today outside the...

United, Continental Partner, But Won't Merge

Airlines will share international flights, coordinate domestic bookings

(Newser) - United and Continental Airlines have forged a marketing alliance that will let them book each other’s seats, share miles and join international flights—but won't merge, reports the Wall Street Journal. The deal provides welcome cost savings in the face of surging fuel prices, but avoids the labor tensions...

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