Fair 80°
Tag:

Acquisition

Business
GameStop Makes Surprising $55B Bid To Buy eBay: What To Know GameStop Makes Surprising $55B Bid To Buy eBay: What To Know
GameStop Makes Surprising $55B Bid To Buy eBay: What To Know GameStop is trying to buy eBay in a surprise deal that would value the online marketplace at about $55.5 billion. eBay confirmed GameStop's "unsolicited proposal" to acquire all of the e-commerce giant in a news release on Monday, May 4. In the non-binding offer, GameStop would purchase eBay for $125 per share in cash and stock. The San Jose, California-based platform known for its auctions said it didn't have any discussions with GameStop before receiving the offer. "The board will review this proposal with a focus on the value to be delivered to eBay shareholders, including the valu…

SHARE

by Chris Spiker
Business
Iconic Hot Dog Brand Nathan's Famous Set For $450M Sale To Food Giant Iconic Hot Dog Brand Nathan's Famous Set For $450M Sale To Food Giant
Iconic Hot Dog Brand Nathan's Famous Set For $450M Sale To Food Giant The world's largest pork-processing company is set to buy one of the most recognizable hot dog brands in the US for nearly $500 million. Smithfield Foods has agreed to acquire Nathan's Famous in a $450 million deal, the company announced on Wednesday, Jan. 21. The pork giant, founded and headquartered in the Hampton Roads region of Virginia, was purchased by Chinese food conglomerate WH Group back in 2013. The deal is expected to close in the first half of 2026, pending regulatory and shareholder approvals. Smithfield will pay $102 per share in cash, a nearly 10% premium…

SHARE

by Chris Spiker
Business
Home Depot’s $5.5B Power Move: GMS Now Under Its Roof Home Depot’s $5.5B Power Move: GMS Now Under Its Roof
Home Depot’s $5.5B Power Move: GMS Now Under Its Roof Home Depot just went on a shopping spree — and it wasn’t for paint swatches or patio sets. On Thursday, Sept. 4, the retail giant announced it had sealed a $5.5 billion deal to scoop up GMS Inc., one of the biggest names in drywall, ceilings, steel framing, and other construction must-haves. The buyout happened through SRS Distribution Inc., Home Depot’s specialty trade distribution arm — and the move marks one of the company’s largest acquisitions to date. The deal wasn’t just about adding more products to the shelves. It’s part of Home Depot’s mission to woo professional contractors by of…

SHARE

by Cecilia Levine
Business
Chocolate Giant To Buy Kellogg's Cereal Company For $3.1B: Here's Why Chocolate Giant To Buy Kellogg's Cereal Company For $3.1B: Here's Why
Chocolate Giant To Buy Kellogg's Cereal Company For $3.1B: Here's Why A European chocolate giant is purchasing the cereal company behind Froot Loops, Frosted Flakes, and Rice Krispies. Ferrero Group has agreed to buy WK Kellogg Co for $3.1 billion, the candy company announced in a news release on Thursday, July 10. The Italian chocolatier is the owner of widely popular brands like Butterfinger, Famous Amos cookies, Ferrero Rocher, Jelly Belly, Kinder, Nutella, and Tic Tac. In the agreement, Ferrero will pay $23 per share in cash, a 40% premium on WK Kellogg's recent stock price. Once the deal closes, Battle Creek, Michigan will serve as Ferrero's North Americ…

SHARE

by Chris Spiker
Business
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy
On The Border Finds Buyer After Tex-Mex Restaurant Chain Declared Bankruptcy A Texas restaurant company is set to buy On The Border Mexican Grill & Cantina after the Tex-Mex chain filed for bankruptcy, closing more than 70 locations – including more than a dozen in the Northeast. Pappas Restaurants won an auction for On The Border, the Houston-based group said in a news release on Wednesday, May 7. The deal needs court approval and is expected to be finalized "in the coming weeks." The price wasn't mentioned in Pappas' announcement. The company previously submitted a $15.9 million stalking horse bid to buy On The Border, FSR Magazine reported in A…

SHARE

by Chris Spiker
Business
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing
Big Lots Unveils Reopening Plan For Hundreds Of Stores After Bankruptcy Filing Big Lots stores will reopen under new ownership more than seven months after the chain filed for bankruptcy. Discount retailer Variety Wholesalers, the new owner of Big Lots, announced the reopening plan in a news release on Friday, April 4. Big Lots applied for bankruptcy in September 2024 and Variety Wholesalers purchased hundreds of locations about three months later. Variety is planning a four-phase rollout following the company’s acquisition of 219 Big Lots locations out of bankruptcy. "We're thrilled to bring the Big Lots! brand back to life by offering more deals…

SHARE

by Chris Spiker
News
YouTube Shorts Launches New Editing Tools As TikTok Ban Deadline Looms YouTube Shorts Launches New Editing Tools As TikTok Ban Deadline Looms
YouTube Shorts Launches New Editing Tools As TikTok Ban Deadline Looms YouTube is unveiling new creation tools on its shorter video platform that directly competes with TikTok, which faces another potential US ban. Five features are coming to YouTube Shorts later in the spring, YouTube said in a blog post on Thursday, April 3. The announcement was made just two days before a federal deadline that could pull TikTok from app stores. The new YouTube Shorts features include beat-synced editing, image and artificial intelligence-generated stickers, upgraded templates, and a redesigned video editor. "Say hello to the new and improved video editor, which has be…

SHARE

by Chris Spiker
Business
Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO
Red Lobster Revival? Restaurant Chain Exits Bankruptcy With $60M In Funding, New CEO Four months after its Chapter 11 filing, restaurant chain Red Lobster says it has exited bankruptcy led by new management. The company announced on Monday, Sept. 16 that it's been acquired by lender group RL Investor Holdings with $60 million in new funding backed by Fortress Investment Group. Damola Adamolekun, former chief executive officer at Asian fusion casual dining chain P.F. Chang’s, is now running Red Lobster. The move comes after the chain, founded in 1968, abruptly closed dozens of locations earlier this year. It still has 544 locations across 44 US states and four provinces in…

SHARE

by Joe Lombardi
Business
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner
Saks Fifth Avenue Acquires Neiman Marcus For $2.65B With Amazon As Partner Luxury department store Saks Fifth Avenue has acquired rival Neiman Marcus, with Amazon jumping on board with a stake in the newly combined company. HBC, the parent company of Saks, entered into an agreement to acquire Neiman Marcus Group, the parent company of Neiman Marcus and Bergdorf Goodman, for a total enterprise value of $2.65 billion.  As part of the deal, Amazon will provide logistics in what HBC says will be a "technology-powered luxury retail company." “We're thrilled to take this step in bringing together these iconic luxury names, Saks Fifth Avenue, Neiman Marcus, and Ber…

SHARE

by Joe Lombardi