News

Divestiture

AP News | Equities.com |

Retail giant Walmart has agreed to sell its British chain of supermarkets, Asda, to the investors behind an international group of gas stations and food shops in a deal that values the company at 6.8 billion pounds ($8.8 billion).

Brothers Mohsin and Zuber Issa, along with investors TDR Capital will acquire a majority of Asda, while Walmart will retain a minority stake and a seat of the board, the parties said in a joint statement issued Friday. Details of the deal w...


Reuters | Equities.com |

ByteDance abandoned the sale of TikTok in the United States on Sunday in pursuit of a partnership with Oracle Corp that it hopes will spare it a U.S. ban while appeasing China's government, people familiar with the matter told Reuters.

The Beijing-based company had been in talks to divest TikTok's U.S. business to either Oracle or a consortium led by Microsoft Corp after U.S. President Donald Trump ordered the sale last month an...