November 19, 20240 Comments

Spirit Air files for bankruptcy following failed JetBlue deal

Article content Spirit Airlines Inc. has filed for bankruptcy in the wake of greater competition from rival carriers and financial troubles following its scuttled merger with JetBlue Airways Corp. The airline filed for Chapter 11 in New York listing assets and liabilities of between US$1 billion and US$10 billion, according to a court document. Spirit has been in negotiations with its creditors since a federal judge blocked that US$3.8 billion

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November 18, 20240 Comments

CVS adds four new board members in deal with Glenview as CEO pursues a turnaround By Reuters

By Sriparna Roy (Reuters) -CVS Health added Glenview Capital’s top boss and three others to its board in a deal with the hedge fund, a month after the healthcare conglomerate tasked a new CEO with its turnaround efforts. The company has been facing pressure from investors including Glenview to improve its operations and shareholder value after missing financial targets several times due to increased medical costs in its health insurance

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November 18, 20240 Comments

Australia’s competition watchdog begins review of Vocus-TPG $3.4 billion deal By Reuters

(Reuters) -Australia’s competition regulator said on Monday it is seeking views on the Macquarie-backed telecommunications group Vocus’ A$5.25 billion ($3.39 billion) takeover of local telecom operator TPG Telecom (BCBA:)’s enterprise, government, and wholesale (EG&W) fixed business and fibre network assets. The Australian Competition and Consumer Commission (ACCC) said it is seeking views from interested parties on the likely impact on prices and service quality in the supply of fixed line

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November 18, 20240 Comments

Tata seals deal with Pegatron for iPhone plant in India’s Tamil Nadu, sources say By Reuters

By Munsif Vengattil and Aditya Kalra NEW DELHI (Reuters) -India’s Tata Electronics has agreed to buy a majority stake in Taiwanese contract manufacturer Pegatron’s only iPhone plant in India, forming a new joint venture that strengthens Tata’s position as an Apple (NASDAQ:) supplier, two sources told Reuters. Under the deal announced internally last week, Tata will hold 60% and run daily operations under the joint venture, while Pegatron will hold

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November 16, 20240 Comments

Homebuilder deal activity is surging, fueled by major Japanese buyers

Exceptionally strong housing demand in the U.S. has large homebuilders in the driver’s seat and smaller builders ripe for takeover. The buyers are both domestic and Japanese. M&A activity in the single-family homebuilder space is having a record year in terms of dollar volume, and close to a record in the number of deals, according to Margaret Whelan, founder of Whelan Advisory and one of the biggest investment bankers in

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November 15, 20240 Comments

Adidas signs NIL deal with girls’ high school basketball Kaleena Smith

Adidas has signed Kaleena Smith as the bradn’s first NIL high school basketball player. Courtesy: Adidas Adidas has signed one of its youngest female athletes yet. The German sports apparel brand on Thursday announced the signing of Kaleena Smith as its first high school girl’s basketball partner under a name, image and likeness, or NIL, deal. Smith, a 16-year old sophomore in Ontario, California, is the highest-rated recruit in the

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November 13, 20240 Comments

EU regulators quiz Novo Nordisk, Catalent rivals on $16.5 billion deal By Reuters

By Foo Yun Chee and Maggie Fick BRUSSELS/LONDON (Reuters) – EU antitrust regulators have asked pharma rivals and customers for feedback in four business areas in light of Novo Holdings’ planned $16.5 billion takeover of Catalent (NYSE:), people familiar with the matter said. Novo Holdings is the controlling shareholder of Danish drugmaker Novo Nordisk (NYSE:), whose profits from blockbuster weight-loss drug Wegovy propelled it to become Europe’s most valuable company

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November 13, 20240 Comments

Strong revenue growth, first Neutron deal

A view of Rocket Lab’s HASTE suborbital launch vehicle. Rocket Lab Rocket Lab shares jumped in post-market trading after the company reported third-quarter results and announced its first customer for its coming Neutron vehicle. The space infrastructure company reported third-quarter revenue increased to $104.8 million, up 55% from $67.6 million for the same period a year ago, and above Wall Street’s expectation of $102 million, according to analysts surveyed by

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