Last month, British American Tobacco offered $47 billion to purchase the roughly 42% stake of R.J. Reynolds American that it didn’t already own. Now, the London-based company’s dream of creating the world’s largest tobacco company has been dashed. [More]
Just three weeks after crashing Marriott’s party and throwing billions of dollars in the ring to take over Starwood Hotels — the operator of brands like Sheraton, St. Regis, Westin, and W — China’s Anbang Insurance Group packed up its bids and decided to go home, leaving Marriott and its $13.25 billion to be crowned the merger winner. [More]
Just when you thought $13.6 billion was enough to put an end to the bidding war for Starwood Hotels — home to brands like Sheraton, St. Regis, Westin, and W — and crown Marriott the victor, the other suitor, China’s Anbang Insurance Group, comes back to sweeten the deal with an offer of $14 billion. [More]
The first major marriage of two companies in 2015 may be taking shape just five days into the new year after reports surfaced Monday that Verizon Communications has approached AOL about a possible joint venture or acquisition. [More]
There might be fewer breadsticks in the basket next time you visit Olive Garden. Okay, fine we don’t really know if that’s true, but we do know that Darden Restaurant Inc., the parent company of the Italian restaurant, lost all of its board seats to investors turned breadstick police Starboard Value LP today. [More]
What do you get when you combine the second-largest chicken producer in the United States and one of the top packaged meat and frozen food companies in the world? The country’s largest producer of meat for breakfast, lunch and dinner. Or to be more accurate, the possible take over of Hillshire Brands Co., by Pilgrim’s Pride. [More]
In a memo to be circulated today, Federal Communications Chairman Julius Genachowski is expected to tell his fellow commissioners that he wants Comcast to agree to certain conditions before approving the cable giant’s takeover of NBC. Among them: a guarantee that competitors will be able to get access to NBC programs at fair rates, and an assurance that the company won’t throttle streaming services such as Netflix.