The retailer, which has struggled to increase its sales as shoppers cut back, acknowledged that it had received an unsolicited buyout offer, which it said ‘lacks compelling value.’
Category: Mergers, Acquisitions and Divestitures
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Sports Illustrated Thrown Into Chaos With Mass Layoffs
The company’s owner has been plunged into a maelstrom in recent weeks as its senior executives have been forced out.
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Spirit Airlines Is on Shaky Footing After Judge Blocks JetBlue Deal
Some investors and analysts said the airline might have to seek bankruptcy protection if it couldn’t find another buyer.
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Recreating a Nearly Defunct, but Long Admired, Watch Brand
As Breitling takes over Universal Genève, it reveals its strategy for making the brand successful again.
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Judge Blocks JetBlue From Acquiring Spirit Airlines
The ruling is a victory for the Justice Department, which had argued that the merger would reduce competition.
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Shell to Sell Its Nigeria Oil Business for $1.3 Billion
The energy company’s exit from onshore petroleum drilling in Nigeria is aimed to reduce risks, while it continues to produce oil and gas offshore.
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Baltimore Sun Sold to Chairman of Sinclair TV Stations
David D. Smith bought the newspaper and its sister publications in a private deal with Alden Global Capital, their owner since 2021.
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BlackRock to Buy Global Infrastructure Partners for $12.5 Billion
The Wall Street giant agreed to buy Global Infrastructure Partners, whose assets include airports and oil pipelines, in its biggest takeover in 15 years.
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Chesapeake Energy and Southwestern Energy Announce Merger
The deal, between Chesapeake Energy and Southwestern Energy, would create one of the largest energy producers in the United States.
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JetBlue Chief Executive to Step Down
Robin Hayes described the decision to retire as “bittersweet,” and suggested that unspecified health concerns had driven it.
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Jeff Zucker’s Latest Bet: Prestige TV
The former CNN president will return to Hollywood by investing in the studio behind streaming hits like “The Morning Show” on Apple TV+.