The Biden administration is pushing TikTok’s Chinese owners to sell the app or face a possible ban. But there are many complications to finding a suitor.
Category: Mergers, Acquisitions and Divestitures
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T-Mobile to Buy Ryan Reynolds’ Mint Mobile
The New York Times – Business:Mint Mobile, which launched in 2016, is known as a cheaper alternative to expensive mobile plans. The actor Ryan Reynolds purchased an ownership stake in the company in 2019.
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Richard Rosenberg, Who Rejuvenated Bank of America, Dies at 92
The New York Times – Business:As chief executive and chairman in the 1990s, he helped turn the bank into the nation’s second-largest through a series of acquisitions.
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U.S. Approves a Merger Between Two Big North American Railroads
The New York Times – Business:Canadian Pacific’s acquisition of Kansas City Southern will create a railroad that links Canada, the United States and Mexico.
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Third Black-Owned Company Emerges as Suitor for BET
The New York Times – Business:Black Entertainment Television made the first Black billionaire in the United States. Will a Black executive buy it back?
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Justice Department Sues to Block JetBlue’s Acquisition of Spirit
The New York Times – Travel:Antitrust regulators said the deal would reduce competition and raise fares. The companies claim it would allow them to better compete against the biggest U.S. airlines.
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CVC Capital Partners Will Invest $150 Million in WTA
The New York Times – Sports:CVC Capital Partners, the former owner of Formula 1, will take a 20 percent stake in a commercial subsidiary as the tour seeks to expand its marketing of events and players and increase prize money.
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JetBlue Expects U.S. Move to Block Merger With Spirit
The New York Times – Business:JetBlue said it saw a “high likelihood” of an antitrust suit by the Justice Department this week, but declared that the deal would foster competition.
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Thomas H. Lee, a Pioneer in Leveraged Buyouts, Is Dead at 78
The New York Times – Business:Born into wealth, he turned it into even greater wealth in founding a Boston firm and was remembered as a “kinder, gentler” corporate raider.
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Thomas Lee, Private Equity Pioneer, Is Dead at 78
The New York Times – Business:The financier, who called himself Tomcat, was an early buyout enthusiast.
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JetBlue and Spirit Unions Split on Airlines’ Merger
The New York Times – Travel:Flight attendant unions at the two carriers are pushing in opposite directions as federal officials decide whether and on what terms to allow the deal.