Walgreens Becomes Private Company Under Sycamore Ownership
Walgreens Boots Alliance has completed its transition to a private company following a merger or acquisition, marking a significant change in its corporate structure.
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Haveli Investments to Acquire Couchbase for $1.5 Billion
Couchbase is set to be acquired by Haveli Investments in a $1.5 billion all-cash deal, which will take the company private. The deal offers a 67% premium over the last trading day's price before the announcement and is expected to close in the second half of 2025, pending approvals. This move signifies a strategic shift for Couchbase, emphasizing its role in AI-driven data solutions and enterprise applications.
Toyota Industries to accept $42bn takeover bid
Toyota Industries is expected to accept a $42 billion takeover bid from Toyota Motor and other group companies, which will take the company private, following pressure from activist investors.
"Stripe's Positive Cash Flow Delays Public Offering Plans"
Stripe, a fintech company, is not in a rush to go public as it has achieved positive cash flow. The company's co-founder and president, John Collison, stated that they are focused on growing the business and are not feeling pressure to pursue an IPO. Stripe's valuation has soared to $95 billion in the private market, making it one of the most valuable venture-backed companies globally.
Astra founders propose private buyout at reduced valuation
Founders of Astra Space, Chris Kemp and Adam London, have offered to take the launch vehicle and spacecraft propulsion company private for nearly $30 million. The offer, at $1.50 per share, values the company at double its current share price. Kemp and London, who hold 66% of the voting power, believe that taking the company private will serve its strategic objectives and business prospects best. They anticipate raising $60-65 million of capital to cover the outstanding shares, transaction expenses, and bridge financing. Astra's cash reserves have dropped, causing the company to default on a loan, and it recently raised $13.4 million in interim financing. The proposal is under review by a special committee.
Arconic sold to Apollo Global Management in $3B deal.
Arconic Corporation, formerly known as Alcoa, has been sold to funds managed by affiliates of Apollo Global Management, Inc. in an all-cash transaction that values the company at approximately $5.2 billion. The transaction includes a minority investment from funds managed by affiliates of Irenic Capital Management. Arconic shareholders will receive $30.00 per share in cash, which represents a premium of approximately 36% to the company’s undistributed closing stock price on Feb. 27. Upon completion of the transaction, Arconic will become a private company.
Elon Musk's X.AI: A New AI Startup to Compete with OpenAI.
Elon Musk has launched a new artificial intelligence company called X.AI, according to a filing in Nevada. The company is privately held and authorized the sale of 100 million shares. Musk is listed as the sole director, with Jared Birchall being secretary. Musk has also signed a letter calling for a minimum six-month pause on training powerful AI systems, stating that AI has the potential to be incredibly destructive and could lead to civilization destruction.