Coverage: Judge blocks Anthem’s $48 billion deal for Cigna
Anthem Inc.’s $48 billion deal to buy Cigna Corp. was blocked by a federal judge, putting an end to the second of two mergers that would have reshaped the U.S. health care landscape. Zachary Tracer, David McLaughlin and Andrew M. Harris of Bloomberg News had the story: The transaction violates antitrust laws by reducing competition among insurers, U.S. […]
Coverage: Walgreens cuts price to buy Rite Aid
Walgreens substantially lowered its offering price for drugstore rival Rite Aid and, facing resistance from U.S. regulators, raised the number of stores it would be willing to unload to ease monopoly concerns. Tom Murphy of the Associated Press had the news: The companies initially expected to sell no more than 500 stores, but that was pushed […]
Coverage: Is the next big deal Verizon buying Charter?
Verizon Communications is seeking a deal that would merge its telecommunications business with Charter Communications, according to various media reports on Thursday. Brian Fung of the Washington Post had the news: A deal between the two could create a massive company controlling access to home broadband, cable TV, and mobile voice and data services, accelerating what some analysts […]
Coverage: Bob Evans sells restaurants as activist investor wins
Bob Evans Restaurants, which has 523 locations across the country, agreed to sell its restaurants and focus on its food distribution business, bowing to pressure from an activist investor. Chris Woodyard of USA Today has the news: Bob Evans Restaurants, based in New Albany, Ohio, will be taken private in a sale to a private equity […]
Reuters names French its M&A reporter for energy and financial services
Greg Roumeliotis, the editor in charge of M&A coverage at Reuters, sent out the following announcement on Tuesday: I’m pleased to announce that David French has started in the deals team in New York this week as our new energy and financial services M&A reporter. David joins us from Dubai, where he most recently led […]
Coverage: Eyeglass giants Essilor, Luxottica agree to combine
Essilor of France said on Monday that it would acquire the Luxottica Group of Italy, owner of the Ray-Ban and Oakley brands, in a $49 billion deal that would create a giant in the eyewear industry. Chad Bray and Elizabeth Paton of the New York Times had the news: The combined company, to be known as EssilorLuxottica, would be […]
Coverage: Valeant sells products to raise cash
Valeant Pharmaceuticals, which has been through some major issues in the past year, is selling its cancer business Dendreon as well as three skincare products for total proceeds of more than $2 billion, raising some much-needed cash. Phil Serafino and Johannes Koch of Bloomberg News had the news: L’Oreal SA, the Paris-based cosmetic giant, will pay Valeant $1.3 billion […]
Coverage: Mars buying animal hospital chain VCA for $7.7 billion
Candy giant Mars Inc., the maker of M&Ms and Skittles, is expanding by offering $7.7 billion to acquire pet hospital chain VCA Inc. Zachary Tracer and Craig Giammona of Bloomberg have the news: The acquisition turns Mars into a dominant company in corporate-owned pet hospitals, an area that’s exploded in recent years — helped by Americans treating their […]
Coverage: Sears sells Craftsman to Stanley Black & Decker
Struggling department store chain Sears Holding agreed to sell its tool brand Craftsman to Stanley Black & Decker in a bid to raise cash and stave off a bankruptcy court protection filing. Michael de la Merced of the New York Times has the news: But the response from Stanley Black & Decker’s chief executive, James M. […]
Coverage: Snapchat parent is buying augmented reality company
Snap has reportedly made an investment in augmented reality, purchasing the Israeli-based startup Cimagine Media in a deal that’s said to be worth between $30 million to $40 million. Ken Yeung of VentureBeat had the news: Through this purchase, Snap will establish a development center in the Middle East, one where it will eventually employ more […]
