Starwood Capital Entities and Jaws Mustang Acquisition Corp announce a non-binding letter of intent for a potential business combination, aiming to list the combined public company on a national securities exchange, involving the ownership of interests in the Initial Portfolio including 1 Hotels properties in Manhattan and Brooklyn, and the De Vere Portfolio in the United Kingdom, under the leadership of Barry Sternlicht, with plans for further expansion and subject to definitive agreement and regulatory approvals.
The Ministry of Corporate Affairs raised merger approval threshold by 150%, exempting acquisitions below Rs 450 crore in assets or Rs 1,250 crore in turnover from Competition Commission of India (CCI) approval for two years; assets and turnover calculation for combinations are contingent on the value of the segment, division, or business involved.
BlackRock (NYSE: BLK) is set to acquire the remaining equity in SpiderRock Advisors, strengthening its presence in the rapidly growing U.S. wealth market, particularly in separately managed accounts (SMAs), which are expected to reach $4 trillion in assets by 2026.
Tripadvisor's stock surged 3.4% as Apollo Global Management expressed interest amid reports of potential acquisition, following Tripadvisor's formation of a special committee to evaluate proposals, with private equity seen as the likely buyer.
Accenture (NYSE: ACN) announced its acquisition of Udacity, integrating its team into Accenture LearnVantage to enhance technology learning services for clients, with ACN's stock down by -1.95% to $376.22.
DLT Resolution (OTC:DLTI) increases its ownership in Ciscom (OTCQB:CISCF) to 42.05% after acquiring an additional 22.15% of shares, complementing a previous purchase of 19.9%, with Ciscom managing entities in Canada's ICT sector.
Activist investor Ancora Holdings reiterates call for Norfolk Southern's CEO replacement following latest derailment in Pennsylvania, advocating for board reconstitution and transition to new management, amidst ongoing disputes with the company over safety concerns.
Spirit AeroSystems' (SPR) stock surged 10% as reports emerged of Boeing (BA) considering acquisition talks with the jet-fuselage supplier, while Boeing's shares declined 1.3%; Spirit also explores selling its Irish operations for Airbus (OTCPK:EADSF) parts, with Reuters reporting discussions of Airbus buying the A220 wings plant, though no immediate deal is expected, signaling potential shifts in the aerospace industry.
Shenandoah Telecommunications (SHEN) will sell its tower portfolio and operations to Vertical Bridge for $310.3 million in cash to fuel the expansion of its Glo Fiber business, expecting an initial closing in March 2024 and $10 million in 2024 income taxes due to the gain on the sale.
Nu Skin (NUS) experienced a 2% rise following 5.4% earlier amid vague activist speculation, with a report suggesting its vulnerability to activist investors in the personal care industry, reminiscent of Avon's acquisition by Natura in 2019, while currently holding a short interest of 9.3%.
