Pins matching tag:Merger

The FTC filed suit in federal court and issued an administrative complaint to stop Tapestry, owner of Coach and Kate Spade, from buying Capri Holdings' Michael Kors, arguing the deal would eliminate head-to-head competition in accessible-luxury handbags.

On 3 May 2024 ExxonMobil announced it had closed its acquisition of Pioneer Natural Resources, more than doubling its Permian Basin production to 1.3 million barrels of oil equivalent a day on 2023 volumes.

HBC, the parent of Saks Fifth Avenue, agreed to acquire Neiman Marcus Group in a deal valued at $2.65 billion, combining Saks Fifth Avenue, Saks Off 5th, Neiman Marcus and Bergdorf Goodman under a new company, Saks Global, backed by equity from Amazon, Rhône Capital, Insight Partners and Salesforce.

Verizon agreed to buy Frontier Communications, the largest pure-play US fiber provider, in an all-cash deal valued at $20 billion ($38.50 a share), adding 2.2 million fiber subscribers and reach to 25 million premises across 31 states and DC.

US District Judge Jennifer Rochon granted the FTC a preliminary injunction halting Tapestry's proposed acquisition of Capri Holdings, ruling that the accessible-luxury handbag rivals were close competitors whose merger would hurt consumers.

Tapestry and Capri Holdings scrapped their planned merger after the FTC's court win, with Tapestry agreeing to reimburse Capri $45.1 million in expenses rather than keep fighting past the deal's outside date.

Zalando agreed to acquire German rival About You for €6.50 a share, a roughly 12% premium to analysts' median price target, with major About You shareholders representing about 73% of its shares - including the Otto family - already committed to accepting the offer.

Saks Global closed its purchase of Neiman Marcus Group at a final enterprise value of $2.7 billion, bringing Neiman Marcus and Bergdorf Goodman together with Saks Fifth Avenue and Saks Off 5th under the new, technology-powered luxury retail company first announced in July.

Geely Automobile Holdings submitted a non-binding offer on 7 May 2025 to buy all Zeekr shares it did not own at US$25.66 per ADS, a 13.6% premium, the first step in merging its NYSE-listed premium EV brand back into the main group.

The FCC approved Verizon's $20 billion Frontier purchase after Verizon committed to ending its DEI practices, with Chairman Brendan Carr citing fiber builds of 1 million or more homes a year and commitments to tower crews.

Capital One completed its all-stock acquisition of Discover Financial Services on 18 May 2025, creating the largest US credit card issuer and bringing the Discover network under its ownership.

HPE closed its all-cash purchase of Juniper Networks at $40 a share, doubling its networking business, days after settling the Justice Department's antitrust suit by agreeing to sell its Instant On unit and license Juniper's Mist AI source code.

Geely Automobile Holdings and Zeekr signed a definitive merger agreement on 15 July 2025, raising the offer to US$26.87 per ADS, payable in cash or newly issued Geely shares, with Zeekr to delist from the NYSE.

On 18 July 2025 an ICC arbitration panel ruled against ExxonMobil and CNOOC's claim to pre-emption rights over Hess's 30% of Guyana's Stabroek Block, clearing Chevron's US$53 billion acquisition of Hess.

Zalando finished absorbing About You after a squeeze-out merger was registered in Hamburg's commercial register, buying out remaining minority shareholders at €6.50 a share and delisting About You from the Frankfurt Stock Exchange to complete the deal first agreed in December 2024.

Zeekr completed its merger with Geely Automobile Holdings on 22 December 2025, becoming a wholly owned subsidiary and ending its US-listed existence, with trading in its ADSs suspended on the NYSE that day.

California's utilities regulator approved the transfer of Frontier's California operations to Verizon with enforceable conditions, including $500 million in small-business spending, the final regulatory approval before the deal closed five days later.

Verizon closed its $20 billion purchase of Frontier Communications, making it a wholly owned subsidiary and extending Verizon's fiber reach to almost 30 million passings across 31 states and DC.

On 5 February 2026 Rio Tinto said it would not bid for Glencore, ending talks on a combination that would have been the world's largest miner, after the two sides could not agree terms.

On 11 March 2026 Google closed its all-cash US$32 billion purchase of cloud security company Wiz, its largest acquisition ever, a year after announcing it; Wiz joins Google Cloud under its own brand.

On 18 May 2026 NextEra Energy and Dominion Energy agreed to combine in an all-stock deal valued at US$66.8 billion, which would create the world's largest regulated electric utility with about 10 million customer accounts and 110 GW of generation.

Judge P. Casey Pitts entered the consent decree clearing HPE's Juniper Networks deal in a 41-page order that found DOJ leadership overrode its own antitrust staff, but held that 12 states and DC had not shown the Instant On sale and Mist source-code licence were against the public interest.

EverBank and Seattle-based WaFd announced on 8 September 2026 a US$3.9 billion reverse merger creating a US$75 billion-asset regional bank, due to close in the first quarter of 2027.

Omnicom expects to end 2026 with about 105,000 staff, roughly 15,000 or an eighth fewer than the 120,000 it had after buying Interpublic, through merger cuts, outsourcing, offshoring and disposals.