All articles tagged with #business deal
Nokia has transitioned from being a victim of the iPhone to striking a significant $1 billion deal with Nvidia, highlighting a major shift in its business strategy and positioning in the tech industry.
Occidental Petroleum is in negotiations to sell its OxyChem chemical unit for approximately $10 billion, as part of its strategic business moves.
BuzzFeed has reached an agreement to sell the company behind the popular web series 'Hot Ones' for $82.5 million. This deal marks a significant business move for BuzzFeed as it continues to navigate the evolving media landscape.
Hershey Trust Co., the main owner of Hershey Co. with significant voting power, has rejected a takeover offer from Mondelez International Inc., deeming it too low. This decision could halt the potential merger that would have created a food giant with nearly $50 billion in combined sales.
Conor McGregor, the MMA fighter, was dropped by his whiskey brand Proper No. Twelve following a civil judgment for sexual assault. Despite this, McGregor had already profited significantly, earning at least $100 million from the sale of the brand in 2021. Proper No. Twelve, which McGregor founded in 2018, was sold to Becle, a Mexican company, and became one of the top-selling Irish whiskeys in the U.S. McGregor no longer holds any ownership stake or promotional role in the brand.
Waste Management will acquire Stericycle in a $7.2 billion deal, paying $62 per share in cash, representing a 24% premium. The acquisition, approved by both companies' boards, is expected to close by Q4 2024. Following the announcement, Stericycle's shares rose 15%, while Waste Management's shares fell over 2%.
Paramount directors have expressed support for an improved acquisition offer from David Ellison's Skydance, signaling potential changes in the entertainment industry landscape.
TKO Holdings and Endeavor are set to acquire a significant number of shares from Vince McMahon, with a combined transaction value of approximately $293 million. This follows McMahon's recent sale of nearly $100 million worth of shares. The implications of these moves for McMahon's future remain uncertain, leaving observers intrigued as to what lies ahead for the wrestling mogul.
Diddy has reportedly sold his shares of Revolt TV to Richelieu Dennis, the owner of Essence Magazine and founder of Shea Moisture products. The deal, which has not been publicly disclosed, is said to be in line with Diddy's desire to maintain African American ownership of the network. This comes after Diddy temporarily stepped down as chairman of Revolt amid sexual assault lawsuits.
A Chinese train maker has withdrawn its bid for a contract in Bulgaria following an investigation by the European Union into the company's potential breach of EU competition rules. The decision comes amid increasing scrutiny of Chinese companies' involvement in international business deals, reflecting broader tensions in global trade relations.
Jared Kushner defended his business dealings with Saudi Crown Prince Mohammed bin Salman, including receiving $2 billion in funding for his private equity firm, despite the prince being accused of involvement in the murder of journalist Jamal Khashoggi. Kushner praised bin Salman as a "visionary leader" and dismissed ethical concerns, stating that Saudi Arabia is "one of the most prestigious investors in the world." He also confirmed that he won't be rejoining the White House if Trump wins the 2024 election.
Netflix's Content Chief Bela Bajaria emphasized that the streaming giant's deal with WWE does not involve Vince McMahon, who has resigned from TKO/WWE amid the sex trafficking lawsuit. Netflix's optimism about the deal stems from the opportunity to provide 52 weeks of live programming and attract new subscribers, while expanding WWE's reach to its 250 million global members.
The Haslam family, owners of the Pilot truck stop chain, must decide whether to sell their remaining 20% stake to Berkshire Hathaway following the settlement of a lawsuit over accounting practices. Berkshire had initially purchased a 38.6% stake in 2017 and was set to acquire an additional 41.4% in January 2023. The two sides have accused each other of manipulating financial records to affect the sale price, with allegations of bribery and a federal investigation.
Amazon has committed to spending over $1 billion over five years to use Microsoft's cloud-based productivity suite, M365. The deal includes more than 1.5 million license seats across different tiers of Microsoft's suite, with around 550,000 seats for corporate workers and 1 million seats for frontline staff. This move represents a significant shift in the relationship between Amazon and Microsoft, as they are bitter rivals in the cloud computing market. Amazon is expected to start setting up on M365 this month, with the full transition for employees planned for early 2024. The actual cost for Amazon is likely to be lower than the official sticker price due to negotiated discounts.
Heineken has sold its business in Russia for $1 as part of a deal with a local partner, marking the company's exit from the Russian market. The move comes as Heineken aims to focus on its core markets and streamline its operations.