merger

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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...

Campbell Soup Is Making a $2.7B Buy
Campbell Soup
Just Made a Big Buy

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

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...

Goodbye, Twitter Inc. Hello, X Corp.
Goodbye, Twitter Inc.
Hello, X Corp.

Goodbye, Twitter Inc. Hello, X Corp.

Parent company of social media platform has been absorbed by new Elon Musk firm, per court filing

(Newser) - Twitter the social media platform is still up and running ( last we checked , anyway), but Twitter Inc. the parent company is no more. That's per a court filing from last week that indicates the company has been absorbed into Elon Musk's X Corp., with the news pointed...

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...

Huge Wireless Merger Now One Step Closer

Judge approves T-Mobile's takeover of Sprint

(Newser) - A federal judge on Tuesday approved T-Mobile's $26.5 billion takeover of Sprint, rejecting objections from a group of states and removing a major obstacle to a shake-up in the wireless industry. After the deal closes, the number of major US wireless companies would shrink from four to three....

The World Is Getting a New No. 4 Automaker

Via the merger of Fiat Chrysler and Peugeot

(Newser) - The boards of Fiat Chrysler Automobiles and PSA Peugeot on Wednesday signed a binding merger deal creating the world’s fourth-largest automaker with the scale to confront the challenges of stricter emissions regulations and the transition to new driving technologies. The companies said in a joint statement the new group...

New Giant Is Born in Defense Industry
New Giant Is Born
in Defense Industry

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 New Auto Giant May Be Right Around the Corner

Chrysler-Renault merger would forge the world's third-largest automaker

(Newser) - Fiat Chrysler proposed on Monday to merge with France's Renault to create the world's third-biggest automaker and save billions of dollars needed to invest in the race to make new electric and autonomous vehicles, the AP reports. The merged company would reshape the global industry: It would make...

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...

Sprint, T-Mobile Merger Is Back On
US Wireless
Landscape
About to Change

US Wireless Landscape About to Change

But customer-friendly plans may get nixed

(Newser) - T-Mobile and Sprint announced Sunday that they reached an agreement to combine into a new company that would reshape the US wireless landscape by reducing it to three major cellphone providers, the AP reports. The deal would help the companies slash costs and could make them a stronger competitor to...

2 of the World's Biggest Chipmakers May Merge

Broadcom offers $103B for Qualcomm

(Newser) - Broadcom made an unsolicited $103 billion offer for rival chipmaker Qualcomm, the tech industry's largest attempted takeover that is destined to come under intense regulatory scrutiny, the AP reports. The company said Monday that it wouldn't have pushed forward with the proposed buyout if it wasn't confident...

QVC Buying HSN for $2.1B
Home Shopping
Rivals Are Merging

Home Shopping Rivals Are Merging

QVC buying HSN for $2.1B

(Newser) - The giants of the home shopping world are merging. QVC is acquiring HSN (which birthed home shopping as the Home Shopping Network in 1977) in an all-stock transaction valued at more than $2 billion, the Wall Street Journal reports. The longtime rivals are joining forces against a bigger rival: online...

Feds' Crackdown on Tax Dodges Kills $160B Pfizer Merger

New Treasury rules on tax 'inversions' squashed deal with Allergan

(Newser) - Allergan and Pfizer are calling off a record $160 billion merger after the Treasury issued new rules to make tax "inversions" less lucrative, the AP reports. The aggressive changes to US tax laws announced this week helped kill the deal, handing what Reuters calls a "major victory" to...

CEO: Pfizer Leaving US Is Good for ... US

Freed-up cash from tax savings could be reinvested back into US: Ian Read

(Newser) - It may seem antithetical that the largest US drugmaker taking off for Ireland would actually prove beneficial to the US, but that's exactly what the CEO of Pfizer is saying after Monday's announcement of its estimated $160 billion "inversion" deal with Allergan, creating the world's biggest...

Pfizer Leaving US in World's Biggest Drug Merger

It's combining with Allergan, based in Ireland, in $160B deal

(Newser) - The world is getting a new No. 1 drug company and the US is losing a giant: Pfizer and Allergan agreed to merge Monday in a deal worth an estimated $160 billion, reports Reuters . Pfizer makes blockbusters such as Viagra and Lipitor, while Allergan makes Botox. The deal will result...

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...

Heinz, Kraft to Become Food Giant

Merger will make them continent's No. 3 food and beverage company

(Newser) - News that might interest those whose favorite pantry staples are ketchup and mac and cheese: Kraft Foods Group Inc. and H.J. Heinz Co. have announced they will merge in a deal that will create the Kraft Heinz Co.—the third largest food and beverage company on the continent...

Staples Grabs Office Depot for $6B

The deal values Office Depot at $11 per share

(Newser) - Look out, David: There's set to be an office-supply Goliath. Staples is buying Office Depot in a cash-and-stock deal valued at some $6 billion. The two have a combined 4,000 stores and do about $35 billion in sales each year. Office Depot Inc. shareholders will receive $7.25...

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