Tag

Merger Deal

All articles tagged with #merger deal

business1 year ago•5 min saved

"Trump-Backed Media Merger Receives SEC Approval, Driving DWAC Shares Higher"

The Securities and Exchange Commission has approved the merger of Donald Trump's media start-up with a special purpose acquisition company, allowing the owner of Truth Social to become a publicly traded company and unlock $300 million in investor funds. Trump stands to hold over 78 million shares in the post-merger company, potentially worth nearly $4 billion, with a lockup period preventing share sales for six months. The merger faces scrutiny from public markets and potential resistance from co-founders, while also raising conflict-of-interest concerns for Trump due to potential indirect financial ties with companies and foreign governments.

via The Washington Post|

#business #digital-world-acquisition #merger-deal

business2 years ago•2 min saved

"JetBlue Deal Fallout: Spirit Airlines Faces Refinancing and Potential Business Threat"

Spirit Airlines reaffirms its commitment to the JetBlue merger despite a recent court decision blocking the multibillion-dollar buyout, causing its stock to surge by 23%. The airline is exploring options to shore up its liquidity, including refinancing debt maturities and negotiating compensation with Pratt & Whitney. It also expects fourth-quarter revenue to reach the high end of its forecast. The company and JetBlue are reviewing the court's decision and considering next steps, with Spirit seeking to convince JetBlue to appeal the ruling.

via Yahoo Finance|

#business #court-ruling #jetblue-airways

business2 years ago•3 min saved

"Judge's Ruling Leaves Spirit Airlines in Limbo After Blocked JetBlue Merger"

After a federal judge blocked Spirit Airlines' $3.8 billion merger deal with JetBlue Airways, the ultra low-cost carrier faces tough choices including seeking another buyer, considering a bankruptcy filing, or finding ways to shore up its finances. With concerns about its ability to repay debt and return to sustainable profitability, analysts suggest a potential Chapter 11 filing or even liquidation. The airline's ongoing struggles with rising operating costs, supply-chain problems, and grounded planes due to engine issues have raised doubts about its future, leading to a significant stock sell-off and prompting speculation about potential alternative options, including a renewed bid from rival Frontier Airlines.

via Yahoo Finance|

#bankruptcy #business #competition-concerns

finance2 years ago•7 min saved

TD Bank and First Horizon cancel $13.4B merger, causing stock market turmoil.

TD Bank and First Horizon have terminated their merger agreement due to a lack of clarity on regulatory approvals. TD will pay First Horizon $200 million on top of a $25 million reimbursement fee. The merger would have made TD the sixth-largest bank in the US by assets. The termination could have broader repercussions for TD's future partnerships and deployment of excess capital.

via Financial Post|

#finance #first-horizon #merger-deal

finance2 years ago•2 min saved

Swiss Prosecutors Investigate Credit Suisse Takeover by UBS.

Swiss prosecutors have launched an investigation into the UBS Group's takeover of Credit Suisse, looking into potential crimes by executives at both banks. The prosecutor's office did not specify which parts of the agreement it would investigate. UBS agreed to buy Credit Suisse for $3.2 billion, taking on the first $5.4 billion in losses from unwinding derivatives and other risky assets. The investigation comes just a week after the Swiss government handed Credit Suisse a $54 billion bailout.

via Fox Business|

#credit-suisse #finance #investigation