Latest Mergers and acquisitions News
Struggling Jeep and Ram maker Stellantis is searching for an new CEO
DETROIT (AP) — Struggling Jeep and Ram maker Stellantis is looking for a CEO to succeed Carlos Tavares, but the company says it's just part of a normal leadership succession plan. Tavares has been under fire from U.S. dealers and the United Auto Workers union after a dismal...
Profiles in clean energy: Dad concerned about climate change shifts company away from oil and gas
ALPHEN AAN DEN RIJN, Netherlands (AP) — At first, working in the oil and gas industry was great, Jordi Zonneveld recalls. Near his home in the Netherlands, there was an oil and gas company that, back in 2005, was growing and hiring. Zonneveld knew nothing about its business, which...
Motel 6 sold to Indian hotel operator for $525 million
The budget motel chain Motel 6 is being acquired by the parent company of Oyo, a hotel operator based in India. The New York-based investment firm Blackstone, which owns Motel 6’s parent company G6 Hospitality, announced Friday that the deal would be an all-cash transaction worth...
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...
