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December 14, 2019

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Reuters - Business

Exclusive: Hudson’s Bay’s take-private deal falls short – sources

Reuters
by Reuters05
(Reuters) – Saks Fifth Avenue owner Hudson’s Bay Co (HBC.TO) has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with the matter said on Friday. FILE PHOTO: A pedestrian walks past a Hudson’s Bay company sign...
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Reuters - Business

Canadian regulator dismisses Catalyst request for cease trade order on Hudson’s take private deal

Reuters
by Reuters02
FILE PHOTO: A man exits a Hudson’s Bay department store in Toronto, Ontario, Canada June 6, 2016. REUTERS/Chris Helgren/File Photo (Reuters) – Canadian financial regulator the Ontario Securities Commission said on Friday it has dismissed a request by Catalyst for a cease trade order relating to proposed take-private deal of...
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Reuters - Business

Exclusive: Hudson’s Bay Co’s take-private deal falls short in shareholder vote – sources

Reuters
by Reuters08
(Reuters) – Saks Fifth Avenue owner Hudson’s Bay Co (HBC.TO) has fallen short of securing enough shareholder support for a C$1.9 billion($1.4 billion) deal to take the department store operator private, people familiar with the matter said on Friday. FILE PHOTO: A pedestrian walks past a Hudson’s Bay company sign...
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Reuters - Business

T-Mobile CEO takes the stand in T-Mobile/Sprint merger trial

Reuters
by Reuters06
FILE PHOTO: T-Mobile US Inc Chief Executive Officer John Legere arrives at Manhattan Federal Court during the T-Mobile/Sprint federal case in New York, U.S., December12, 2019. REUTERS/Shannon Stapleton (Reuters) – T-Mobile US Inc (TMUS.O) Chief Executive John Legere testified on Friday that he believes U.S. regulators considered Dish Network’s (DISH.O)...
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Reuters - Business

Testimony begins in U.S. states’ lawsuit to block T-Mobile/Sprint deal

Reuters
by Reuters08
NEW YORK (Reuters) – Witness testimony began Monday over an effort by U.S. state attorneys general to stop T-Mobile US Inc (TMUS.O) from buying Sprint Corp (S.N), in a case that highlights disagreements between federal antitrust enforcers, who are Republican, and Democrats in powerful states. Attorneys for the 13 states...
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Reuters - Business

Exclusive: Hyundai’s $1.8 billion deal with Daewoo faces EU probe – sources

Reuters
by Reuters08
FILE PHOTO: Giant cranes of Hyundai Heavy Industries are seen in Ulsan, South Korea, May 29, 2018. Picture taken on May 29, 2018. REUTERS/Kim Hong-Ji BRUSSELS (Reuters) – World No. 1 shipbuilding group Hyundai Heavy Industries Holdings Co Ltd’s (267250.KS) $1.8 billion merger with rival shipbuilder Daewoo is expected to...
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Reuters - Business

Just Eat heated up by $6.5 billion Prosus bid, in challenge to Takeaway

Reuters
by Reuters07
AMSTERDAM (Reuters) – Prosus (PRX.AS) raised its unsolicited cash offer for British food delivery service Just Eat (JE.L) to $6.5 billion on Monday, ratcheting up the pressure on rival bidder Takeaway (TKWY.AS) in a bitter takeover battle. FILE PHOTO: Signage for Just Eat on the window of a restaurant in...
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Reuters - Business

Trial begins in U.S. states’ effort to block T-Mobile/Sprint deal

Reuters
by Reuters08
WASHINGTON (Reuters) – U.S. state attorneys general, led by New York and California, deliver opening arguments Monday in a bid to stop T-Mobile U.S. from buying Sprint Corp in a trial that highlights disagreements between federal antitrust enforcers, who are Republican, and Democrats in powerful states. FILE PHOTO: A T-Mobile...
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France’s Sanofi to buy biotech firm Synthorx for $2.5 billion

Reuters
by Reuters09
PARIS (Reuters) – Sanofi (SASY.PA) said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorders. FILE PHOTO: The logo of Sanofi is seen at the...
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Reuters - Business

Proxy adviser ISS opposes plan by Hudson’s Bay chairman to take firm private

Reuters
by Reuters012
(Reuters) – Institutional Shareholder Services said on Friday it recommends shareholders vote against a plan by the chairman of Hudson’s Bay Co (HBC.TO) to take the Saks Fifth Avenue owner private after the bid was topped by an offer from Catalyst Capital Group Inc. FILE PHOTO: U.S. flags fly outside...
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Reuters - Business

H&M’s brand COS to test clothing rentals in China with YCloset

Reuters
by Reuters012
The H&M clothing store is seen in Times Square in Manhattan, New York, U.S., November 15, 2019. REUTERS/Mike Segar STOCKHOLM (Reuters) – H&M (HMb.ST), the world’s second-biggest fashion group, said on Friday its brand COS had teamed up with Chinese subscription rental platform YCloset to try renting out clothes in...
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Reuters - Business

Britain’s Phoenix to buy Swiss Re’s ReAssure business for $4.1 billion

Reuters
by Reuters09
LONDON/ZURICH (Reuters) – Phoenix Group Holdings (PHNX.L) has agreed to buy the British business of Swiss Re (SRENH.S) for 3.2 billion pounds ($4.1 billion) in cash and shares, the UK insurer’s biggest deal to date, driving the two companies’ shares higher. The logo of Swiss insurer Swiss Re is seen...
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Reuters - Business

Phoenix to buy Swiss Re’s ReAssure unit for $4.1 billion

Reuters
by Reuters08
The logo of Swiss insurer Swiss Re is seen in front of its headquarters in Zurich, Switzerland, September 23, 2015. REUTERS/Arnd Wiegmann LONDON/ZURICH (Reuters) – Insurance group Phoenix Group Holdings (PHNX.L) on Friday announced its biggest-ever deal, as it agreed to buy the British unit of Swiss Re AG (SRENH.S)...
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Reuters - Business

CBS, Viacom complete merger in a win for Shari Redstone

Reuters
by Reuters012
FILE PHOTO: The CBS Television Studios campus is seen in Los Angeles, California, U.S. August 3, 2018. REUTERS/Lucy Nicholson (Reuters) – CBS Corp and Viacom Inc completed their merger on Wednesday, reuniting media mogul Sumner Redstone’s U.S. entertainment empire. The combined entity, ViacomCBS Inc VIACA.O VIAC.O, is controlled by National...
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Reuters - Business

Britain’s competition watchdog reviewing Google’s Looker buyout deal

Reuters
by Reuters09
FILE PHOTO: The Google logo is pictured at the entrance to the Google offices in London, Britain January 18, 2019. REUTERS/Hannah McKay/File Photo (Reuters) – Britain’s competition watchdog on Monday said it was probing Google’s $2.6 billion buyout of privately held big-data analytics firm Looker Data Sciences. The Competition and...
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Reuters - Business

Buffett’s Berkshire outbid for Tech Data: CNBC

Reuters
by Reuters08
(Reuters) – Billionaire investor Warren Buffett was thwarted in trying to spend some of the $128.2 billion of cash at his Berkshire Hathaway Inc, after a private equity firm outbid him to buy technology equipment distributor Tech Data Corp for $5.14 billion, CNBC said on Friday. Berkshire Hathaway Chairman Warren...
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Reuters - Business

Hedge funds control 35-45% of Osram shares in headache for suitor AMS: source

Reuters
by Reuters09
MUNICH (Reuters) – Hedge funds control 35-45% of the shares of German lighting group Osram (OSRn.DE), posing a headache for Austrian suitor AMS (AMS.VI) as the investors may press for the $5 billion offer to be sweetened, a person close to the matter said on Thursday. FILE PHOTO: The logo...
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Reuters - Business

Permira, North Face owner among bidders for sneaker brand Golden Goose: sources

Reuters
by Reuters08
LONDON/MILAN (Reuters) – U.S. apparel and footwear conglomerate VF Corporation and buyout funds Permira and Advent are lining up indicative offers for Italian shoe brand Golden Goose ahead of a mid December deadline, sources familiar with the matter told Reuters. FILE PHOTO: The logo of the Carlyle Group is displayed...
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Reuters - Business

Italy’s Cavalli rescued by Dubai’s Damac chairman

Reuters
by Reuters026
FILE PHOTO: A model walks at the Roberto Cavalli show during Milan Fashion Week Spring 2019 in Milan, Italy September 22, 2018. REUTERS/Stefano Rellandini MILAN/DUBAI (Reuters) – Italian fashion house Roberto Cavalli was bought on Thursday by Hussain Sajwani, the chairman of Dubai’s Damac Properties (DAMAC.DU), the companies said, ending...
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Reuters - Business

London Stock Exchange shareholders vote on $27 billion Refinitiv deal

Reuters
by Reuters08
LONDON (Reuters) – London Stock Exchange (LSE.L) shareholders met on Tuesday to vote on the exchange’s $27 billion takeover of analytics and data company Refinitiv, a deal designed to broaden LSE’s trading business and make it a major distributor of market data. FILE PHOTO: The Refinitiv logo is seen on...
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