acquisition

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Mickelson Looks to Buy Waffle House Franchise

Golfer's company makes $20.2 million offer for budget restaurant chain

(Newser) - Phil Mickelson has made a bid for SouthEast Waffles, a group of 105 Waffle House restaurants in four southern states, the Tennessean reports. Mickelson’s GS Acquisitions offered to buy SouthEast Waffles out of bankruptcy for $20.2 million. Though neither Mickelson nor his two other partners at GS have...

Music Industry Hunts for Cash in Pirate Bay Sale

Trade group wants its chunk of $7.8M acquisition

(Newser) - The music industry wants its money back from those copyright vigilantes at Pirate Bay, and now it sees a decent chance to get it, reports CNET. An industry trade group plans to go after the $3.6 million in damages awarded by a Swedish court now that a software company...

GM, Saturn Dealers Split on Playing Up Penske Name

(Newser) - Saturn dealerships around the country have been using the brand’s planned acquisition by Roger Penske to attract customers, the Wall Street Journal reports. "People want to buy from someone they like," said the owner of a Saturn dealership in Wichita. But dealership owners nationwide have since received...

Schwarzenegger Happy to See Hummer Go to China

Calif. Gov. believes Chinese owners will be able to ratchet up mileage

(Newser) - California Gov. Arnold Schwarzenegger helped popularize the Hummer by driving one, but he's not worried that its days of American ownership are over, reports the Los Angeles Times. The gas-guzzler has come to symbolize Detroit's failure to innovate, and the brand's new Chinese owners will be able to double the...

GM Strikes Hummer Deal
 GM Strikes Hummer Deal 
Jun 2, 2009 7:21 AM CDT

GM Strikes Hummer Deal

Buyer, price not disclosed

(Newser) - General Motors has announced a "tentative" plan to sell its Hummer brand to a buyer who could take control by the end of the third quarter, says the Wall Street Journal. The firm didn’t say who was buying it or for how much, but noted that the purchaser...

'I Made a Mistake' Buying Tribune Co.: Zell

Canny investor admits he backed a losing horse

(Newser) - Sam Zell is famous for his business acumen. He made a near-psychic call to sell his office-property company for billions just months before the market tanked. But the magnate now tells Bloomberg another deal he made was as boneheaded, in retrospect, as the Equity Office Properties deal was prescient: buying...

5 Reasons Twitter's Worth $1B to Google

Flagging company could use a boost

(Newser) - Google will look like a twit if it doesn’t snap up Twitter, and Henry Blodget of Silicon Alley Insider gives 5 reasons it should part with $1 billion to do so:
  • Search, Google’s bread and butter, is dwindling, and the company needs a new growth engine to energize
...

IBM to Nab Rival Sun for $7B
 IBM to Nab Rival Sun for $7B 
Apr 3, 2009 7:11 AM CDT

IBM to Nab Rival Sun for $7B

Deal would let IBM rule Unix server market

(Newser) - IBM looks set to buy rival Sun Microsystems in a $7 billion deal that would make IBM king of the lucrative Unix server market, the New York Times reports. The $9.50-per-share agreement, already approved by IBM’s board, insiders say, could be announced today—though next week is more...

Google Near Deal to Acquire Twitter: Insiders

Two insiders put price well above $250 million

(Newser) - Google is in the last stages of acquiring Twitter for a price well above the microblogging site's recent $250 million valuation, reports industry blog TechCrunch, citing anonymous sources. Twitter recently rejected a $500 million offer from Facebook—although much of that price was in stock that may be overvalued. A...

Ousted Thain Subpoenaed on Early Merrill Bonuses

NY attorney general also calls BoA exec in probe of banks and TARP funds

(Newser) - New York’s attorney general issued a subpoena today to force John Thain to testify about his acceleration of bonus payments for Merrill Lynch employees last month, the Financial Times reports. A subpoena was also issued to a Bank of America executive thought to have consulted with Thain—then Merrill’...

Ballmer Quashes Yahoo Bid Rumors; Open to Partnership

Microsoft 'done' with acquisition attempts, even after Yang's resignation

(Newser) - Steve Ballmer quashed the rumor that Microsoft would make another offer to buy Yahoo now that Jerry Yang has quit as CEO, CNET reports. “We are done with all acquisition discussions with Yahoo,” the chief executive said today. “We did our best; we’ve moved on.”

Barclays in Talks to Buy Lehman Assets

Deal could save 10,000 jobs, salvage operations

(Newser) - Barclays is in talks to buy Lehman Brothers’ key assets in a shift that could save 10,000 jobs and some operations, the Wall Street Journal reports. A deal could be finalized today. No sale price has yet emerged for the possible transaction, which wouldn’t touch Lehman’s bad...

Paulson, Wall Street Execs Let Lehman Die

11th-hour meeting exhausted all possible rescue options for investment firm

(Newser) - As the dust settles on Wall Street, details of the final frantic negotiations on Lehman Brothers reveal that Henry Paulson’s opposition to a government bailout ultimately sealed the investment bank’s fate, the Journal reports. Paulson summoned an emergency meeting of 30 Wall Street executives Friday to definitively state...

Maker of Marlboros May Buy Skoal for $10B

(Newser) - The nation’s largest cigarette maker, Altria Group, is in talks to acquire UST, the producer of Skoal and Copenhagen smokeless tobaccos for a rumored $10 billion, the New York Times reports. Altria, a spinoff of Philip Morris, makes Marlboro cigarettes. Negotiators were poised to strike a deal over the...

South Korean Banks Offer $5.3B for Stake in Lehman

Newspaper says Korea Development Bank plans a consortium to pay for the deal

(Newser) - Korea Development Bank—which in August backed out of negotiations to acquire struggling Lehman Brothers—is back with bid for a 25% stake in the capital-starved bank for as much as $5.3 billion, reports the AP. The state-owned lender says it will form a consortium of South Korean banks...

Belgian-Brazilian InBev Buys Anheuser-Busch for $52B

Historic change for American beer king

(Newser) - Legendary American brewing company Anheuser-Busch has agreed to a $52 billion takeover bid by the Belgian-Brazilian InBev, building the largest beer firm in the world and ending over 150 years of ownership by the Anheuser and Busch families, the Wall Street Journal reports. The $70-per-share deal is a step up...

InBev Brews Plan to Oust Anheuser-Busch Directors

Company turns to shareholders in merger

(Newser) - InBev is turning up the heat in its $46.35-billion attempt to take over St. Louis-based Anheuser-Busch, seeking to replace the company's board with a new slate of directors. The move aims to allow shareholders a direct say on the merger bid that was spurned last month, reports the Wall ...

Weather Channel Sells for $3.5B

NBC, Blackstone, and Bain score cable stalwart for far under expected $5B

(Newser) - NBC is heading an investor group that will buy the Weather Channel for nearly $3.5 billion—well below the $5 billion Landmark Communications was expecting when it put the iconic cable channel up for sale in January. The group, which includes private equity firms Bain Capital and the Blackstone...

Yahoo, Microsoft Talks On Again
Yahoo,
Microsoft
Talks On Again
Jun 25, 2008 3:05 AM CDT

Yahoo, Microsoft Talks On Again

Microsoft may now be seeking partial deal, not full buyout

(Newser) - A deal may still be in the works between Microsoft and Yahoo—but not for a full acquisition of Yahoo, according to Fortune. Microsoft may be after Yahoo's search business, which the software giant needs to tackle competitor Google. Yahoo is also under investor pressure to revive talks. Its shares...

France Telecom Offers $42B for TeliaSonera

French telco looks to expand into Turkey and Russia

(Newser) - France Telecom’s long-anticipated takeover bid of Swedish telco TeliaSonera finally landed today—with a thud. TeliaSonera immediately rejected FT’s $42 billion cash-and-stock offering—worth some $10.33 per share—as too low, reports the New York Times. Investors appeared to disagree, pushing France Telecom stock down 4% in...

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