Capri Holdings (CPRI) dipped 1% as a judge denied Tapestry's (TPR) motion in the FTC's lawsuit against their planned merger, seeking clarification on market definition, while Tapestry shares rose 3.2%.
BHP CEO to meet Anglo American head at U.S. conference amid rejected $39 billion offer, with BHP possibly preparing to increase bid, while Anglo shareholders urge expedited release of turnaround plan amidst interest from Glencore and Rio Tinto, and pressure from activist investor Elliott Investment Management.
Sony Pictures Entertainment and Apollo Global Management are planning a buyout bid for Paramount Global, intending to break up its entertainment empire, selling off assets like CBS, Paramount's cable channels, and Paramount+ while merging Paramount Pictures with Sony's studio, according to a New York Times report.
Ares Real Estate, in collaboration with EQ Group, has acquired a hotel portfolio from Landsec, transferring operations from AccorInvest, encompassing 18 hotels with 3,028 rooms, for £400 million.
Steward Health Care, Medical Properties Trust's largest tenant, initiates hospital sale amidst bankruptcy, with MPW offering $75M financing, stock surges 4.4%.
John Wood Group's stock surged 21.2% in London trading after rejecting a £1.42B takeover offer from Sidara, citing undervaluation, marking a second recent rejection following a 35% premium cash bid by Apollo Global Management last year.
BHP's plan to divest South African assets of Anglo American is central to its acquisition strategy, aiming to increase free float in Kumba Iron Ore and Amplats, trigger index-linked buying, and meet regulatory goals, potentially justifying a 30%-45% control premium.
Allete (NYSE: ALE) rises 1.1% pre-market after a partnership led by Canada Pension Plan Investment Board and Global Infrastructure Partners agrees to acquire the energy company for $67/share in cash, totaling $6.2B, with a commitment to retain local management and operations.
BF Borgers, hired by Trump Media & Technology Group, faces SEC charges of "massive fraud" involving over 1500 filings, alleging deliberate failure to comply with PCAOB standards, fabricating audit documentation, and falsely stating compliance, resulting in a $12M penalty for the firm and a $2M penalty for owner Benjamin Borgers.
Paramount Global ends exclusive negotiations with Skydance Media, considering a $26 billion bid from Sony Pictures and Apollo Global Management, amid shareholder concerns and leadership changes, impacting the company's future.