Esurance, the insurance company known for its online quotes and annoying commercials, is now officially part of Allstate, after the larger company announced that it has completed the $1 billion acquisition. [More]
mergers and acquisitions
Little Banks To Big Banks: Can You Please Stop Merging For A Little Bit?
By 9.20.11
With folks at the Federal Reserve already reportedly concerned that the sale of ING Direct to Capital One could create another too-big-to-fail bank, a group representing the nation’s smaller banks has raised its voice in concern. [More]
Seven States Join DOJ Lawsuit To Block AT&T/T-Mobile Deal
By 9.16.11
So it’s not just Sprint and the Justice Dept. that think the sale of T-Mobile USA to AT&T is a bad idea and should be stopped. Today, attorneys general for seven different states joined the DOJ’s suit to block the deal. [More]
Report: Fed Concerned Capital One/ING Direct Merger Could Create Another Too-Big-To-Fail Bank
By 9.12.11
Back in July, Capital One announced a deal to purchase online bank ING Direct USA for around $9 billion. And even though Cap One tried hard to quell ING customers’ screams of “nooooooo,” the folks at the Federal Reserve are reportedly a bit worried that the deal might create another bank so big that its failure would have a disastrous impact on the economy. [More]
What Will Become Of T-Mobile If AT&T Deal Falls Through?
By 9.9.11
With the Justice Department suing to block AT&T’s $39 billion purchase of T-Mobile USA, some have begun wondering what would happen to the country’s fourth-largest wireless provider should the deal fall through. That includes T-Mobile’s parent company, Deutsche Telekom, which is reportedly looking at options for its American business. [More]
Judge Tells AT&T And DOJ To Be Prepared To Discuss Settlement On T-Mobile Deal
By 9.7.11
The judge in the Justice Dept. lawsuit to block AT&T’s purchase of T-Mobile USA has not only set a date for the first hearing in the case, she’s also advised both sides to start thinking about settlement terms. [More]
Sprint Sues To Block AT&T From Buying T-Mobile
By 9.6.11
Less than one week after the Justice Dept. filed a lawsuit to block AT&T’s pending $39 billion purchase of T-Mobile USA, Sprint has filed a lawsuit of its own (but related to the DOJ suit), seeking to have the deal called off. [More]
Regulators Will Keep Stink Eye On Comcast-NBC Merger's Impact On Online Video
By 9.2.11
The feds approved the Comcast-NBCUniversal merger earlier this year, but the deal had to clear another hurdle Thursday. Earlier, the FCC and U.S. Department of Justice agreed that the company needed federal court approval of the online video aspect of the deal. Now a U.S. District judge has given the merger a thumbs-up on the condition that the court will keep a close eye on the company’s effects on the video industry for the next two years. [More]
AT&T "Surprised And Disappointed" By DOJ Effort To Block T-Mobile Purchase
By 8.31.11
Hey AT&T, the federal government has put up a huge roadblock to your $39 billion purchase of T-Mobile USA. What are you going to do now? [More]
Dept. Of Justice Moves To Block AT&T Purchase Of T-Mobile
By 8.31.11
Though it’s been said since the beginning that AT&T’s proposed $39 billion purchase of T-Mobile USA would be an uphill climb, most people seemed to think it would ultimately still go through. But earlier today, lawyers for the federal government filed a lawsuit in federal court to block the merger, saying it would violate antitrust law and “substantially lessen competition.” [More]
Google Adds To Tablet & Smartphone Business With Purchase Of Motorola Mobility
By 8.15.11
Software giant Google announced this morning its intention to buy Motorola Mobility Holdings, the smartphone and tablet arm of Motorola, for $12.5 billion, or $40 per share–a 63-percent premium over Friday’s closing price for Motorola stock. [More]
Time Warner Cable Expands With Purchase Of Insight Communications
By 8.15.11
Time Warner Cable, the nation’s second largest cable operator, will soon get a little bit larger, announcing today that it has acquired Midwestern television operator Insight Communications for $3 billion. [More]
T-Mobile Employee: AT&T Takeover Is "Like A Car-Jacking"
By 8.11.11
We’ve been hearing a lot of buzz from those in the wireless world that T-Mobile employees are dreading the day their company is finally acquired by AT&T and they start reporting for work at the Death Star. But while most of T-Mobile’s 38,000 staffers have been reluctant to say anything bad publicly about their future overlords, one employee pulled no punches in detailing their feelings about the merger. [More]
Antitrust Committee Chairman: AT&T, T-Mobile Merger "Contrary To Antitrust Law" "Should Be Blocked"
By 7.20.11
Senator Herb Kohl (D-WI), chairman of the Senate Subcommittee on Antitrust, called on the FCC and the Department of Justice to block the proposed merger of AT&T and T-Mobile, saying the deal would “likely cause substantial harm to competition and consumers, would be contrary to antitrust law and not in the public interest, and therefore should be blocked by your agencies.” [More]
News Corp Dumps MySpace For $35 Million
By 6.30.11
When you buy something for $580 million, the goal is not to part with it for $35 million a few years later. Yet that’s exactly what News Corp has done, ending its 6-year ownership of the sputtering social networking site by selling it for scrap. [More]
Capital One Tries, Fails To Allay Fears Of ING Direct Customers
By 6.22.11
When we first reported that Capital One would be purchasing online bank ING Direct, the response from ING customers was overwhelmingly negative with some variation on “noooooo” being a common comment. But lest you think everyone at Cap One is a barbarian (and/or viking), a rep for the perennial Worst Company In America contestant talked to the NY Times to allay ING customers’ fears about their new overlords. [More]
Today Is The Last Day To Tell The FCC How You Feel About The AT&T/T-Mobile Merger
By 6.20.11
While AT&T’s pending purchase of T-Mobile may still be many, many months away from a final ruling by the Federal Communications Commission and Justice Department, today is the deadline for members of the public to add their comments to the FCC record. [More]
Report: Capital One To Buy ING Direct For $9 Billion
By 6.16.11
The barbarians at Capital One have reportedly laid siege to the ING castle and are prepared to take control of online bank ING Direct, a move that would allow Cap One to leapfrog over the head of several competitors. [More]
