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Acquisition

Business
JCPenney Offers Billions To Buy Rival Kohl's, Report Says JCPenney Offers Billions To Buy Rival Kohl's, Report Says
JCPenney Offers Billions To Buy Rival Kohl's, Report Says The owners of JCPenney are bidding to acquire rival Kohl’s, according to a new report. Shopping-mall owners Simon Property and Brookfield Asset Management have offered around $8.6 billion for Kohl's stores, the New York Post reports. Under the plan, JCPenney's parent company would maintain two separate brands and cut costs by $1 billion at Kohl’s over the next several years, the Post said, citing a source. After filing for bankruptcy in the spring of 2020, JCPenney was acquired by Simon Property Group and Brookfield Asset Management. With about 1,160 locations in every state except Hawaii…

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by Joe Lombardi
Business
New Parent Company CVS Vows To Keep Aetna Headquarters In Hartford For 10 Years New Parent Company CVS Vows To Keep Aetna Headquarters In Hartford For 10 Years
New Parent Company CVS Vows To Keep Aetna Headquarters In Hartford For 10 Years CVS Health, which is seeking state approval of its $69 billion acquisition of Aetna, is making major promises to Hartford, according to a letter from the company to the Connecticut Insurance Department. Last year, Aetna announced it was moving its headquarters to New York City, but early this year, after an incentive package fell through, CVS said it has no plans to move out of Hartford.  CVS said it will keep Aetna's headquarters in Hartford for at least 10 years and preserve staffing levels in Connecticut at about 5,300 workers for at least four years. CVS officials also said they would …

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by Daily Voice
Business
Make Your Own Soda At Home? Pepsi Acquires Cola Maker For $3.2B Make Your Own Soda At Home? Pepsi Acquires Cola Maker For $3.2B
Make Your Own Soda At Home? Pepsi Acquires Cola Maker For $3.2B Do you want to make your own soda at home? A deal just made by Westchester-based PepsiCo may allow you to do just that. Pepsi announced on Monday it will acquire an Israel-based cola maker. The deal for SodaStream of $144 per share in cash, a transaction valued at more than $3.2 billion. A SodaStream device carbonates water by adding carbon dioxide from a pressurized cylinder to create make carbonated water in which one of more than 100 types of syrups may be added to produce soda. "Today marks an important milestone in the SodaStream journey," Daniel Birnbaum, SodaStream CEO an…

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by Joe Lombardi