acquisition
New York (AFP) - Paramount Global said Monday it had reached an agreement to sell Simon & Schuster, a top US publisher, to private equity firm KKR for $1.62 billion. The proposed sale, if it goes through, will end a years' long effort to sell the prestigious publishing house, whose authors include Stephen King, Colleen Hoover and Bob Woodward. "We are pleased to have reached an agreement on a transaction that delivers excellent value to Paramount shareholders while also positioning Simon & Schuster for its next phase of growth with KKR," Paramount Global president and CEO Bob Bakish said in a...
AFP
New York (AFP) - Twitter shares plunged Monday as Elon Musk issued a mocking, defiant commentary about a looming court battle after he ditched a $44 billion buyout of the social media giant. Shares of the microblogging platform fell 11.3 percent to finish at $32.65, with analysts saying Musk's exit places the company in a vulnerable state at a challenging moment for its core business. After weeks of threats, Musk on Friday pulled the plug on the deal, accusing Twitter of "misleading" statements about the number of fake accounts, according to a letter from his lawyers included in a US securitie...
AFP
New York (AFP) - Twitter stock fell Monday after Tesla chief Elon Musk ditched a $44 billion deal to buy the social media giant. The platform stock dropped 5.46 percent on Wall Street, to $34.80 by around 7:05 am (11:05 GMT). It had lost 5.10 percent before the weekend. Musk on Friday pulled the plug on the deal, accusing the company of "misleading" statements about the number of fake accounts, according to a letter from his lawyers, a copy of which was filed with the Securities and Exchange Commission. Musk's effort to terminate the deal that he inked in April sets the stage for an epic court...
AFP
North Londonderry (United States) (AFP) - French dairy giant Lactalis is betting big on North America, adapting to local preferences to attract consumers while it manages country-specific issues, such as the extreme volatility of US milk prices. On the new production line at Stonyfield Farm in Londonderry, New Hampshire, a Lactalis subsidiary since 2017, 800,000 yogurts are pumped out every week. The organic brand is seeing strong demand for its products aimed at babies and children, so Stonyfield plans to build a second production line for them this year. To nibble at US market share in the y...
AFP
New York (AFP) - Netflix said Wednesday it plans to buy Finnish developer Next Games for more than $70 million, signaling the US streaming giant's intent to expand into the video gaming industry. Next Games has been developing mobile games since 2013 based on popular television series such as "Stranger Things" and the "The Walking Dead" -- both hits that air on Netflix. "We are excited for Next Games to join Netflix as a core studio in a strategic region and key talent market, expanding our internal game studio capabilities," Michael Verdu, vice president of games at Netflix, said in a stateme...
AFP
New York (AFP) - US cybersecurity firm McAfee announced on Monday it will be sold to a group of investors for more than $14 billion, just over a year after going public. The consortium led by Advent International Corporation and Permira Advisers will pay about $12 billion in cash to acquire all of McAfee's outstanding shares, with the cost rising to more than $14 billion when the company's debt is added. The investor group also includes Crosspoint Capital Partners, Canadian pension fund CPP Investments, Singapore's sovereign wealth fund GIC and a subsidiary of the Abu Dhabi Investment Authorit...
AFP
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