Coverage: Pfizer, Allergan combine in megamerger
Pfizer announced Monday that it would purchase Botox maker Allergan in a $160 billion deal, but the deal is sure to draw many critical eyes given it is an inversion deal. Inversion deals allow U.S. corporations to switch their headquarters to foreign countries where taxes are less restrictive. President Obama has been a vocal critic of […]
Coverage: “Frankenfish” receives regulatory approval
Genetically engineered salmon received regulatory approval for commercial sale from the U.S. Food and Drug Administration, marking the first time a genetically modified animal was given the go-ahead for human consumption. Jacob Bunge of The Wall Street Journal had the day’s news: Federal regulators approved the production and commercial sale of a strain of salmon […]
Coverage: Square prices at $9 a share, below expected range
Square’s initial public offering has been hotly anticipated since the payment company first announced its plans, but Wednesday it was dealt a small blow when it priced at $9 per share, missing its expected range of $11 to $13 per share. Telis Demos and Corrie Driebusch of The Wall Street Journal described how the company […]
Coverage: Walmart’s profit slips ahead of holidays
With holiday shopping in full swing, the world’s largest retailer Walmart is gearing up for its biggest time of the year. The Arkansas company posted its latest quarterly earnings Tuesday, and despite a growth in U.S. sales, profits for the retail giant slipped 11 percent. Sarah Nassauer of The Wall Street Journal summed up the […]
Coverage: Marriott to buy Starwood Hotels
In a $12.2 billion deal, Marriott agreed to buy Starwood Hotels, cementing Marriott’s position as the world’s largest hotelier. CNBC had the details behind the deal: The company, which had a market value of $12.67 billion as of Friday, had reached out to InterContinental Hotels Group Wyndham Worldwideand sovereign wealth funds for a possible deal […]
Coverage: Facebook, Twitter connect users after Paris attacks
Paris, known for being the City of Lights and love, was shaken over the weekend after a series of deadly terror attacks. As details of the tragedy unfolded throughout the night, people took to their social media pages to look for updates not only about the news but their loved ones’ safety. The two most […]
Coverage: Perrigo to survive hostile takeover, maybe
UPDATE: As of 9:00 a.m. Friday morning, Mylan officially lost its attempt to takeover fellow drug maker Perrigo. The company was just short of the 50 percent of shares needed to succeed. Generic drug maker Mylan is expected to lose its hostile takeover bid of its peer Perrigo, according to several outlets. The takeover bid […]
Coverage: Macy’s posts another disappointing quarter
It was another rough quarter for Macy’s and shares plunged 14 percent as a result, but the store known for its Thanksgiving Day parade and star logo might not be done yet. Nandita Bose and Sruthi Ramakrishnan of Reuters detailed the overall problems of the retail industry: Warm weather, low spending by tourists and a pileup […]
Coverage: AB InBev finalizes terms of SABMiller deal
Months of negotiating have led to this moment– AB InBev and SABMiller have finally finalized the details of their $106 billion deal. The deal will create one of the world’s largest beer companies, so in order to gain the support of regulators, SABMiller is selling its stake in Miller Coors, which owns several popular beer brands […]
Coverage: Match kicks off IPO roadshow
The Match Group, which owns the popular dating app Tinder, is kicking off its IPO roadshow. The Dallas company hopes to raise about $433 million from the IPO, giving it a $3.1 billion valuation. Leslie Picker of The Wall Street Journal had news about the company’s plan: The Match Group is seeking a valuation of […]
