Latest Mergers and acquisitions News
Darden Restaurants: Fiscal Q1 Earnings Snapshot
ORLANDO, Fla. (AP) — ORLANDO, Fla. (AP) — Darden Restaurants Inc. (DRI) on Thursday reported fiscal first-quarter profit of $207.2 million. The Orlando, Florida-based company said it had net income of $1.74 per share. Earnings, adjusted for costs related to mergers and...
Kroger and Albertsons make a final pitch for their merger before a judge decides whether to block it
PORTLAND, Ore. (AP) — The federal government urged a U.S. District Court judge on Tuesday to temporarily prevent a proposed merger between Kroger and Albertsons, saying in closing arguments the combination would “almost certainly” benefit shareholders and not everyday shoppers. ...
The Biden administration is letting Alaska Airlines buy Hawaiian Air but with conditions
The Biden administration is letting Alaska Airlines complete its $1 billion purchase of Hawaiian Airlines after the carriers agreed to certain conditions, including maintaining current service on routes between Hawaii and the mainland U.S. where they don’t have much competition. ...
Red Lobster exits Chapter 11 bankruptcy protection
Red Lobster, known for its affordable seafood and cheddary biscuits, has exited Chapter 11 bankruptcy protection. A U.S. bankruptcy judge approved the casual seafood chain’s reorganization plan earlier this month, which included a lender group led by asset manager Fortress...
Authorities arrest a relative of the King of Jordan and 3 others for $1M insider-trading plot
MIAMI (AP) — Authorities charged four men, including a relative of the King of Jordan, for conspiring to make insider stock trades on a business acquired by one of South Florida’s major publicly held companies, MasTec. Federico Nannini, 26; his father, Mauro Nannini, 63; and two...
Kroger: Fiscal Q2 Earnings Snapshot
CINCINNATI (AP) — CINCINNATI (AP) — Kroger Co. (KR) on Thursday reported fiscal second-quarter net income of $466 million. The Cincinnati-based company said it had profit of 64 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and investment costs,...
Stakeholder in Trump's Truth Social parent company wins court ruling over share transfer
DOVER, Del. (AP) — A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump’s Truth Social platform. The judge on Friday granted summary judgment to...
CEOs of Albertsons and Kroger says shoppers would see lower prices after merger
PORTLAND, Ore. (AP) — The chief executive officers of Kroger and Albertsons insisted Wednesday — under questioning from the federal government — that merging would allow the two supermarket companies to lower prices and more effectively compete with retail giants like Walmart, Costco and...
White House signaling it will likely stop Nippon Steel's plans to buy US Steel
WASHINGTON (AP) — The White House is signaling an openness to blocking the acquisition of U.S. Steel by Nippon Steel, as a government review of the proposed takeover by the Japanese company is on the cusp of ending. The Washington Post reported Wednesday that President Joe Biden...
UK competition watchdog clears Microsoft's hiring of AI startup's core staff
LONDON (AP) — British regulators on Wednesday cleared Microsoft's hiring of key staff from startup Inflection AI, saying the deal wouldn't stifle competition in the country's artificial intelligence market. The Competition and Markets Authority had opened a preliminary...
