Amcor expands packaging business to the US with $5.25 billion Bemis deal

Amcor expands packaging business to the US with $5.25 billion Bemis deal

The all-stock deal for Bemis will give Amcor deeper access to the rigid-plastic packaging business in North America. Amcor will list on the NYSE after the combination. The deal is expected to close in the first quarter of 2019. Packaging company Amcor will absorb U.S. rival Bemis in a $5.25 billion all-stock deal, the Australian company announced Monday. “We will establish a listing on the New York Stock Exchange with a market capitalization of about…

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Verizon should ditch new Oath subsidiary, spin off Yahoo, AOL: Former Yahoo CFO Ken Goldman

Verizon should ditch new Oath subsidiary, spin off Yahoo, AOL: Former Yahoo CFO Ken Goldman

Verizon placed two prominent but faded tech brands it acquired, AOL and Yahoo, into a subsidiary called Oath. A former Yahoo CFO says that a better strategy would be to spin off these tech companies in a new publicly traded stock. Verizon could retain 80 percent control and still execute on broader media strategy, and allow these brands to better innovate by being independent. Verizon’s recently created media subsidiary housing the acquisitions of faded tech…

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Private equity giant Leonard Green takes another chance on retail, buying hot online retailer Shade Store for $325 million

Private equity giant Leonard Green takes another chance on retail, buying hot online retailer Shade Store for $325 million

Private equity firm Leonard Green & Partners is acquiring customized treatment company The Shade Store. Terms were not announced, but CNBC has learned the deal is worth $325 million. The Shade Store sells its custom-made window treatments online and in 60 showrooms across the country. The Shade Store start out in 2006 as a website. Private equity firm Leonard Green & Partners announced plans Thursday to acquire The Shade Store, a customized window treatment company….

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London-based luxury online marketplace Farfetch files for IPO

London-based luxury online marketplace Farfetch files for IPO

London-based luxury online marketplace Farfetch files for an IPO and plans to list on the New York Stock Exchange under the ticker FTCH. Sources previously told CNBC the company is aiming for a valuation as high as $5 billion. The global market for personal luxury goods was estimated to be worth $307 billion in 2017, according to the filing, citing Bain. It is expected to reach $446 billion by 2025. London-based luxury online marketplace Farfetch…

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PepsiCo to buy SodaStream for $3.2 billion

PepsiCo to buy SodaStream for $3.2 billion

Beverage and snack giant PepsiCo announced plans Monday to acquire at-home carbonated drink maker SodaStream for $3.2 billion. Purchase, New York-based PepsiCo agreed to pay $144 per share in cash for SodaStream’s outstanding stock, a 32 percent premium to its 30-day volume weighted average price. The deal gives PepsiCo a new line through which it can reach customers in their homes rather than through stores. It comes as U.S. grocers are in a state of…

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No Saudi Aramco IPO? No problem, potentially, for Saudi Arabia’s investment dreams

No Saudi Aramco IPO? No problem, potentially, for Saudi Arabia’s investment dreams

The world’s largest initial public offering is on hiatus. The spending it was to enable may not be. Saudi Arabia planned to take its giant oil company, Saudi Aramco, to the public markets. It was to be the linchpin of a grand economic vision, generating billions of dollars to pay for future-proofing the kingdom’s economy, including huge investments in technology. It is now postponed, leaving a large funding shortfall. But Saudi Arabia is pursuing alternative…

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Kraft Heinz CEO doesn’t want long-term M&A regrets amid Campbell Soup speculation

Kraft Heinz CEO doesn’t want long-term M&A regrets amid Campbell Soup speculation

Bernando Vierira Hees, CEO of Kraft Heinz, said during its second quarter earnings call about acquisitions, “And I think also important to say, we don’t do something to be happy for a quarter and then be regretting for the long-term, to be apologizing for the next couple of years.” Kraft Heinz passed on the chance to bid on Pinnacle Foods, sources told CNBC, which could signal that any potential interest in Campbell is waning. Hees…

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Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on the opportunity to bid on Pinnacle Foods in a recent sale of the company, sources tell CNBC. Kraft Heinz told Pinnacle Foods “such an acquisition would not be a good strategic fit … at the current valuation levels.” Its disinterest in Pinnacle may have implications for its potential interest in Campbell, should the soup giant put itself up for sale. Kraft Heinz recently passed on the opportunity to bid on Pinnacle…

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GrubHub surges after earnings report and LevelUp acquisition

GrubHub surges after earnings report and LevelUp acquisition

Shares of GrubHub soared more than 24 percent on Wednesday, following a strong second-quarter earnings report and the company’s announcement it would acquire mobile ordering and mobile payments platform LevelUp. The gains pushed GrubHub’s shares to an all-time high of $134.33 per share during regular trading on Tuesday. Shares of GrubHub soared more than 25 percent on Wednesday, following a strong second-quarter earnings report and the company’s announcement it would acquire mobile ordering and mobile…

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AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T shares fell more than 2 percent after the telecom company reported mixed second quarter earnings and revenue. On the call, Stephenson and fellow executives discussed their strategic vision for combining AT&T and Time Warner, including increased investment in premium programming and direct to consumer products. AT&T shares fell more than 2 percent, before paring some of those losses, after the telecom company reported mixed second quarter earnings and revenue. Here’s how the company did…

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