Latest Mergers and acquisitions News
The FCC approves T-Mobile-Sprint deal in party-line vote
The Federal Communications Commission has approved the $26.5 billion combination of Sprint and T-Mobile on a 3-2 party-line vote. The wireless merger still faces opposition from a coalition of state attorneys general, who argue the deal is bad for competition. The companies won't merge while litigation persists....
Uber to acquire food delivery service Cornershop
Ride-hailing service Uber is acquiring Cornershop as it tries to gain a foothold in the Latin American grocery delivery business. Financial details of the deal were not disclosed. San Francisco-based Uber, whose $5.24 billion loss last quarter was its largest ever, has been expanding its offerings to include food...
MedMen's ends blockbuster deal adding to cannabis stock woes
LOS ANGELES (AP) — Marijuana stocks have come down hard from their highs a year ago, and the skid isn't just spooking investors. On Tuesday, MedMen Enterprises Inc., which sells legal cannabis in California and 11 other states, backed out of a blockbuster deal to buy PharmaCann, a Chicago-based marijuana...
Hong Kong stock exchange drops bid to buy London exchange
HONG KONG (AP) — The Hong Kong stock exchange on Tuesday dropped its bid to buy its London counterpart after the European exchange rejected the surprise offer. Hong Kong Exchanges and Clearing Ltd. said it was "unable to engage" with managers of the London Stock Exchange Group. That followed the London...
Banker who tipped off dad convicted anew of insider trading
NEW YORK (AP) — An investment banker whose insider trading conviction was overturned by an appeals court was convicted again at a second trial Monday by a jury that reached a speedy verdict. The Yale-educated Sean Stewart, 38, of North Merrick, was convicted of charges including securities fraud and...
Barron Hilton, hotel magnate and AFL founder, dies at 91
LOS ANGELES (AP) — Barron Hilton, a hotel magnate who expanded his father's chain and became a founding owner in the American Football League, died Thursday at his Los Angeles home. He was 91. Hilton's family said he died of natural causes. He transformed Hilton into the industry's top brand during his 30...
UK blocks aerospace takeover by US investor over security
LONDON (AP) — The British government is halting the takeover of a U.K. aerospace company by a U.S. private equity firm to assess whether it affects national security. Business Secretary Andrea Leadsom said Wednesday that the competition watchdog would look into the security implications of the sale of...
T. Boone Pickens, oilman and renewables advocate, dies at 91
OKLAHOMA CITY (AP) — T. Boone Pickens, a brash and quotable oil tycoon who grew even wealthier through corporate takeover attempts, died Wednesday. He was 91. Pickens was surrounded by friends and family when he died of natural causes under hospice care at his Dallas home, spokesman Jay Rosser said....
FEMA officials, contractor accused of hurricane relief fraud
SAN JUAN, Puerto Rico (AP) — Federal authorities said Tuesday they have arrested two former officials of the Federal Emergency Management Agency and the former president of a major disaster relief contractor, accusing them of bribery and fraud in the efforts to restore electricity to Puerto Rico in the...
Talks to create Asia's biggest telecom operator fall apart
COPENHAGEN, Denmark (AP) — Telecom companies Telenor of Norway and Malaysia's Axiata Group Berhad have ended talks about merging operations in Asia, a deal that would have created the region's biggest telecommunications operator with 300 million customers in nine countries. Telenor ASA said Friday that the...
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