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.
Conduent (NASDAQ:CNDT) is selling its casualty claims solutions business to MedRisk for $240 million in cash, with Conduent employees in the unit transitioning to MedRisk, while continuing to offer mailroom services for current clients, including MedRisk, with the deal set to conclude in the third quarter of 2024.
Haynes International (NASDAQ:HAYN) saw a 1.7% drop as Austria's antitrust regulator initiated a Phase II probe into the planned sale to a subsidiary of Acerinox (OTCPK:ANIOY), expressing competition concerns and prompting a more in-depth examination by the Cartel Court.
The Federal Trade Commission is set to approve Exxon Mobil's $60B acquisition of Pioneer Natural Resources with minor concessions, though Politico suggests it may hinge on Pioneer's founder not joining Exxon's board due to allegations of collusion.
Genuine Parts Company (NYSE:GPC) acquires Motor Parts & Equipment Corporation (MPEC), the largest independent owner of NAPA Auto Parts stores in the U.S., to strengthen its U.S. Automotive business.
Masonite (NYSE: DOOR) gained 0.8% as the HSR waiting period expired for its $3.9B sale to Owens Corning (NYSE: OC), expected to close next month.
Skydance Media presents its "best and final" offer to merge with Paramount Global, with concessions from the Redstone family and David Ellison to address concerns of smaller investors, amid reported opposition from other stakeholders and impending CEO Bob Bakish's potential ousting.
Paramount Global plans to oust CEO Bob Bakish amid negotiations for a potential merger with Skydance Media, as reported by CNBC, citing sources, with division heads expected to lead discussions ahead of Q1 2024 financials and the expiration of an exclusivity period on Friday.
The Mergers and Acquisitions Process involves 10 steps: 1. Acquisition Strategy, 2. Selection Criteria, 3. Target Search, 4. Acquisition Planning, 5. Valuation, 6. Negotiations, 7. Due Diligence, 8. Contract, 9. Financing, and 10. Closure Announcement, each crucial for effective execution and completion of the deal.
Dominion Lending Centres (TSX:DLCG:CA) sold its 52% stake in Cape Communications International for $3.71 million, intending to fully repay its junior term facility with the proceeds.
