Earlier this week, it looked like the $12 billion acquisition of Starwood Hotels — which includes brands like Sheraton, St. Regis, Westin, and W — by Marriott was in doubt after last-minute interest from China-based Anbang Insurance Group. Today, there is no doubt; that original deal is dead and Starwood is going with the higher offer from Anbang. [More]
Specialty grocery chain Fresh Market is starting the week with a new owner: Apollo Management Group agreed to acquire the chain for about $1.36 billion in cash over the weekend. [More]
Two months after General Motors unveiled a $500 million investment in Lyft, the mustachioed ride-hailing service, with the hopes of one day providing the masses with rides in a self-driving fleet, the carmaker has taken a step that might help it realize that goal: acquiring self-driving vehicle startup Cruise Automation. [More]
Your friends’ posts on Facebook are about to get a bit more cartoon-like now that the social media company has acquired selfie-altering startup Masquerade Technologies. [More]
Imagine a world where G.I. Joe marries Barbie (or Ken) and then they both drive off in their Hot Wheels car to their My Little Pony ranch — and all these products come from the same company. It’s a possibility, with Mattel and Hasbro reportedly chatting about merging the contents of their respective toy chests.
Why should Comcast have all the fun buying up new media products? Univision Communications –parent company of the Univision TV network and dozens of other radio and TV stations — has reportedly snapped up a controlling stake in Onion Inc. [More]
Auto Parts Retailer Love Triangle Reaches $1B With Icahn Once Again Topping Bridgestone In Bid For Pep Boys
Earlier this month, the Federal Trade Commission went to court in an effort to block the pending merger of office-supply mega chains Staples and Office Depot, saying that it would result in too little competition in the market for supplies being sold to businesses. Since then, Staples has tried to revise the deal to make it more palatable, but to no avail. [More]
All of those storage containers, Sharpies, coolers, and crockpots you have dotting the insides of cupboards now have a lot more in common than one might think: Newell Rubbermaid, the company behind Sharpie and Rubbermaid storage products Jarden, the company behind the Coleman and Crock-Pot brands, for $13.2 billion. [More]
Pep Boys Concedes That Icahn’s Offer May Be “Superior” To Bridgestone, Will Explore The Deal Further
When Dollar General entered an unsolicited billion dollar bid for Family Dollar last year, the smaller company said thanks but no thanks. The latest merger-love triangle appears to be taking a different path: auto parts retailer Pep Boys seems to be mulling the idea of ditching its already agreed upon deal with Bridgestone in favor of more money from Auto Plus owner Icahn Enterprises. [More]
Love triangles are generally a plot device used in movies and television shows to keep viewers’ eyes glued to the screen, screaming for their preferred suitor to win out. Recently, though, the messy affairs have infiltrated the mergers and acquisitions realm with the months-long dollar store war – Dollar General and Dollar Tree fighting over Family Dollar. Today, that trend continued with the company behind Auto Plus offering to buy the already betrothed Pep Boys retail operations out from under Bridgestone. [More]
While you may not have checked your old Yahoo Mail account since before the recession, the Web 1.0 relic continues to exist. And now that Yahoo’s board may be looking to sell off the portion of the business that most people associate with the company, a number of potential buyers are licking their chops at getting some piece of the meal. [More]
Yahoo, one of the few remaining old guard Internet biggies still standing, has been trying to reinvigorate its business in the last few years, even spending oodles of cash in an effort to stake claims in the streaming video and daily fantasy sports markets. But so far, consumers have responded with a shrug and the company’s stock price has continued to fall since the beginning of 2015. That’s why the Yahoo board will reportedly be looking into the possibility of getting out of this whole “Internet” thing. [More]
If the giant pharmaceutical companies of the world seem quite big enough to you already, well, that just means you probably aren’t a major investor in or CEO of one. But the major investors and CEOs do think bigger is better, and so to that end two of them are merging to create an even bigger drug behemoth and take it overseas.