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February 22, 2020
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Mergers / Acquisitions / Takeovers

Reuters - Business

Buffett defends Berkshire stock push, reassures on future as profit smashes record

Reuters
NEW YORK (Reuters) – Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc’s (BRKa.N) decision to invest heavily in stocks of companies such as Apple Inc (AAPL.O) as he labors through a four-year drought since his last major acquisition of a company. Buffett, 89, also used his annual letter to......
Reuters - Business

Buffett calls for more accountability for corporate directors

Reuters
(Reuters) – Warren Buffett on Saturday called on corporate America to make their boards of directors more accountable to shareholders and less beholden to chief executive officers, perhaps by reducing their pay and requiring that they buy more stock. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit......
Reuters - Business

Rising stocks fuel record profit for Buffett’s Berkshire; operating profit disappoints

Reuters
(Reuters) – Warren Buffett’s Berkshire Hathaway Inc on Saturday posted a 23% decrease in quarterly operating profit, while soaring prices in stock holdings such as Apple Inc enabled the conglomerate to smash its old record for full-year earnings. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall......
Reuters - Business

Buffett defends stock investments, which fueled record Berkshire profit

Reuters
NEW YORK (Reuters) – Warren Buffett on Saturday forcefully defended Berkshire Hathaway Inc’s decision to invest heavily in stocks of companies such as Apple Inc as he labors through a four-year drought since his last major acquisition of a company. FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the......
Reuters - Business

Buffett defends investments in stocks, which fueled record Berkshire profit

Reuters
NEW YORK (Reuters) – Warren Buffett on Saturday defended Berkshire Hathaway Inc’s decision to invest heavily in the stocks of companies such as Apple Inc, while giving new details about how Berkshire Hathaway is prepared for his death in an annual letter to shareholders posted on the company’s website. FILE......
Reuters - Business

Buffett defends investments in stocks, which fueled record Berkshire profit

Reuters
FILE PHOTO: Berkshire Hathaway Chairman Warren Buffett walks through the exhibit hall as shareholders gather to hear from the billionaire investor at Berkshire Hathaway Inc’s annual shareholder meeting in Omaha, Nebraska, U.S., May 4, 2019. REUTERS/Scott Morgan (Reuters) – Warren Buffett on Saturday defended Berkshire Hathaway Inc’s decision to invest......
Reuters - Business

Morgan Stanley to get $375 million termination fee if E*Trade walks away from deal

Reuters
People take photos by the Morgan Stanley building in Times Square in New York City, New York U.S., February 20, 2020. REUTERS/Brendan McDermid (Reuters) – Morgan Stanley will receive a $375 million breakup fee if E*Trade Financial Corp walks away from its $13 billion deal for the discount brokerage, the......
Reuters - Business

Exclusive: Aramco to win unconditional EU clearance for $69 billion SABIC deal – sources

Reuters
FILE PHOTO: The logo of Aramco is seen as security personnel stand before the start of a press conference by Aramco at the Plaza Conference Center in Dhahran, Saudi Arabia November 3, 2019. REUTERS/Hamad I Mohammed/File Photo BRUSSELS (Reuters) – World No. 1 oil producer Saudi Aramco (2222.SE) is set......
Reuters - Business

Qatar Airways not interested in investing in Air Italy

Reuters
FILE PHOTO: A Qatar Airways aircraft takes off at the aircraft builder’s headquarters of Airbus in Colomiers near Toulouse, France, September 27, 2019. REUTERS/Regis Duvignau MILAN (Reuters) – Qatar Airways said on Friday it was not interested in investing in struggling Italian carrier Air Italy, but would do all it......
Reuters - Business

Morgan Stanley’s Gorman charts ambitious course with $13 billion E*Trade deal

Reuters
(Reuters) – Morgan Stanley said on Thursday it would buy discount brokerage E*Trade Financial Corp in a stock deal worth about $13 billion, the biggest acquisition by a Wall Street bank since the 2008-2009 financial crisis. Part of a broader consolidation in the discount brokerage sector, the move will add......
Reuters - Business

T-Mobile, Sprint amend merger terms, SoftBank takes a hit

Reuters
(Reuters) – T-Mobile US (TMUS.O) and Sprint Corp (S.N) said on Thursday that they had agreed on new merger terms that would reduce the stake of major Sprint shareholder SoftBank, while leaving the offer to other shareholders unchanged. FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen......
Reuters - Business

T-Mobile, Sprint amend merger terms; to close deal as early as April 1

Reuters
FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration (Reuters) – T- Mobile US (TMUS.O) and Sprint Corp (S.N) said on Thursday that they had agreed on new merger terms and were looking to close the deal as......
Reuters - Business

T-Mobile, Sprint near agreement on new merger terms: WSJ

Reuters
FILE PHOTO: Smartphones with the logos of T-Mobile and Sprint are seen in this illustration taken September 19, 2017. REUTERS/Dado Ruvic/Illustration (Reuters) – T- Mobile US (TMUS.O) and Sprint Corp (S.N) are nearing an agreement on new merger terms and the final deal could be announced as soon as Thursday,......
Reuters - Business

Morgan Stanley to buy E*Trade Financial in $13 billion deal

Reuters
FILE PHOTO: A sign is displayed on the Morgan Stanley building in New York U.S., July 16, 2018. REUTERS/Lucas Jackson/File Photo (Reuters) – Morgan Stanley (MS.N) said on Thursday it would buy discount brokerage E*Trade Financial Corp (ETFC.O) in an all-stock deal worth about $13 billion, the biggest deal by......
Reuters - Business

Thyssenkrupp nears full sale of elevator unit: sources

Reuters
Thyssenkrupp’s logo is seen outside the elevator test tower in Rottweil, Germany, January 21, 2020. REUTERS/Michaela Rehle FRANKFURT/DUESSELDORF (Reuters) – Thyssenkrupp (TKAG.DE) is nearing a full sale of its elevator division, three people familiar with the matter said, adding this would result in maximum proceeds that are needed as net......
Reuters - Business

Shares of HNA affiliates rally after report of China bailout plan

Reuters
BEIJING/SHANGHAI (Reuters) – Shares in affiliates of HNA Group surged on Thursday following a news report that China plans to take over the debt-laden conglomerate as the coronavirus outbreak has further hit its ability to meet financial obligations. FILE PHOTO: The HNA Group logo is seen on the gate of......
Reuters - Business

T-Mobile owner sets sights on becoming U.S. number one

Reuters
BONN, Germany (Reuters) – Deutsche Telekom (DTEGn.DE) is aiming to become market leader in the United States, CEO Tim Hoettges said on Wednesday, now that a deal for its T-Mobile US (TMUS.O) unit to take over Sprint (S.N) is within reach. Timotheus Hoettges, Chief Executive Officer of Germany’s telecommunications giant......
Reuters - Business

Qatar Airways spends $600 million to lift stake in BA owner to 25%

Reuters
LONDON/DUBAI (Reuters) – Qatar Airways has bought a $600 million stake in British Airways-owner IAG (ICAG.L) to increase its holding to 25.1%, strengthening its position ahead of a change in IAG management. FILE PHOTO: A Qatar Airways Boeing 787-8 Dreamliner airplane is pictured at Leonardo da Vinci-Fiumicino Airport in Rome,......
Reuters - Business

U.S. merger within reach, D.Telekom CEO goes on offensive

Reuters
BONN, Germany (Reuters) – The merger between T-Mobile US (TMUS.O) and Sprint (S.N) is within reach, the head of T-Mobile’s main owner Deutsche Telekom (DTEGn.DE) said on Wednesday, vowing to go on the offensive to close a valuation gap with U.S. market leaders AT&T and Verizon. Timotheus Hoettges, Chief Executive......
Reuters - Business

Exclusive: Vodafone, Telecom Italia offer rivals access to some sites to ease EU concerns – EU paper

Reuters
FILE PHOTO: Different types of 4G, 5G and data radio relay antennas for mobile phone networks are pictured on a relay mast operated by Vodafone in Berlin, Germany, April 8, 2019. REUTERS/Fabrizio Bensch/File Photo BRUSSELS (Reuters) – Vodafone and Telekom Italia have offered to allow rivals access to sites in......

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