News

Mergers and Acquisitions

Kimberly Redmond | Equities.com |

Visa Inc has agreed to acquire Currencycloud, a UK-based fintech platform, for 700 million pounds ($962 million).

The deal announced Thursday by the payments giant builds on an existing strategic partnership formed between the two companies in 2019, a press release noted.


Reuters | Equities.com |

India's antitrust regulator has accused Amazon.com Inc of concealing facts and making false submissions when it sought approval for a 2019 investment in a Future Group unit, a letter to the U.S. e-commerce giant seen by Reuters showed.

The letter complicates Amazon's bitter legal battle with Future Group over the Indian's firm's decision to sell its retail assets to Reliance Industries, a matter that is now before India's Supreme Court.


Kimberly Redmond | Equities.com |

Zoom Video Communications Inc (Nasdaq: ZM) announced Sunday it has agreed to acquire Five9 Inc (Nasdaq: FIVN), a cloud-based contact center service provider, in an all-stock transaction valuing the company at $14.7 billion.

Under the terms of the agreement, Five9 shareholders will receive 0.5533 shares 0.5 a share of Zoom’s Class A common stock for each Five9 share. This represents a transaction value of $200.18 per share of Five9 stock based on the closing price for Zoom’s common stock on Friday, July 16.


Reuters | Equities.com |

Intel Corp is in talks to buy semiconductor manufacturer GlobalFoundries Inc for about $30 billion, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Any deal talks don't appear to include GlobalFoundries directly, as a spokesperson for the company told the Journal it was not in discussions with Intel, according to the report.


Reuters | Equities.com |

Morgan Stanley reported a more than 11% jump in quarterly profit on Thursday, as its investment banking business benefited from record levels of activity in deal making and capital markets.

The Wall Street bank said its net income applicable to common shareholders rose to $3.4 billion, or $1.85 per share, in the second quarter ended June 30 from $3.05 billion, or $1.96 per share, a year earlier.


Reuters | Equities.com |

Elon Musk arrived at court on Monday to defend Tesla Inc's 2016 acquisition of SolarCity against a lawsuit by shareholders seeking to recoup the $2.6 billion the company paid for the ailing solar panel maker.

Musk is slated to take the witness stand this morning, kicking off a two-week trial in Wilmington, Delaware, before Vice Chancellor Joseph Slights, who will decide whether the SolarCity deal was fair to Tesla stockholders.


Reuters | Equities.com |

President Joe Biden's planned executive order to promote greater U.S. competition will target bank mergers by pushing the Federal Reserve and the Department of Justice to update merger guidelines and increase scrutiny of deals, according to a source familiar with the matter.

It will also ask the Consumer Financial Protection Bureau (CFPB) to issue rules giving consumers full control of their financial data to make it easier for customers to switch banks, the source said.


Reuters | Equities.com |

Marlboro cigarettes maker Philip Morris International agreed on Friday to buy British drugmaker Vectura for 1.05 billions pounds ($1.44 billion) to bolster its portfolio of products that are free from tobacco or nicotine.

The deal, which topped a proposal by investment firm Carlyle Group, means shareholders in the drugmaker that makes 13 inhaled medicines will get 150 pence per share in cash, 11% higher than its Thursday closing price.


Kimberly Redmond | Equities.com |

Hello Sunshine, a media company founded by Academy Award-winning actress and entrepreneur Reese Witherspoon, is exploring a sale, according to The Wall Street Journal.

The privately-held company, which could be valued as much as $1 billion in a deal, has been weighing its options in recent months after receiving interest from companies including Apple Inc (Nasdaq: AAPL), the newspaper reported, citing confidential sources.


Reuters | Equities.com |

Blackstone Group Inc said on Tuesday it will buy Sphera, a environmental, social and governance (ESG) software, data and consulting services provider, from private equity firm Genstar Capital in a $1.4 billion deal.

Chicago, Illinois-based Sphera has more than 3,000 customers and is present in over 100 countries. Its offerings allow organizations to measure and manage their performance and risk exposure pertaining to their ESG activities.