Justice Department reportedly close to approving CVS-Aetna, Cigna-Express Scripts deals

Justice Department reportedly close to approving CVS-Aetna, Cigna-Express Scripts deals

The Department of Justice is close to approving CVS Health’s acquisition of Aetna and Cigna’s acquisition of Express Scripts, The Wall Street Journal reported Wednesday, citing people familiar with the matter. Regulators will require CVS and Aetna to sell off assets related to its Medicare drug coverage in order to appease competitive concerns surrounding the nearly $70 billion deal, people familiar with the deliberations told The Wall Street Journal. The Department of Justice is close…

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Fred’s shares surge more than 80 percent after announcing $165 million deal to sell some pharmacy files to Walgreens

Fred’s shares surge more than 80 percent after announcing $165 million deal to sell some pharmacy files to Walgreens

Walgreens will purchase files and related pharmacy inventory of 185 Fred’s stores across 10 Southeast states. Walgreens will pay Fred’s $165 million, subject to adjustment, plus an amount equal to the value of related pharmacy inventory. Once that is complete, Fred’s will continue to operate about 162 pharmacies across nearly 600 stores. Shares of Fred’s surged 82 percent Monday after it announced it will sell some pharmacy files to Walgreens for at least $165 million….

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Salesforce Founder Marc Benioff makes deal to buy Time Magazine for $190 million

Salesforce Founder Marc Benioff makes deal to buy Time Magazine for $190 million

The founder of Salesforce, Marc Benioff and his wife Lynne Benioff, have agreed to buy Time magazine for $190 million in cash from media and marketing company, Meredith Corporation. The Benioffs are purchasing the magazine personally and the deal has nothing to do with Salesforce, where Benioff is Chairman, co-CEO, according to a release by Meredith. The founder of Salesforce, Marc Benioff and his wife Lynne Benioff, have agreed to buy Time magazine for $190…

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DOJ clears Cigna’s acquisition of Express Scripts

DOJ clears Cigna’s acquisition of Express Scripts

The U.S. Department of Justice has cleared Cigna’s acquisition of Express Scripts, the companies announced in a statement Monday. Shareholders voted to approve the merger last month, despite opposition from activist investor Carl Icahn. The companies expect to close the deal by the end of 2018. The U.S. Department of Justice has cleared Cigna’s $52 billion acquisition of Express Scripts, the companies announced in a statement Monday. In combining Cigna, a health insurer, and Express…

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How the biggest private equity firms became the new banks

How the biggest private equity firms became the new banks

Gibson Brands is the legendary guitar maker based in Tennessee that has made instruments for Jimi Hendrix and Keith Richards. Now, a legal brawl between two of America’s biggest investment firms means the faltering rock’n’roll emblem has also become a symbol of the shifting hierarchy in global finance. Bankruptcy proceedings in Delaware have brought a crashing end to Gibson’s plan to reinvent itself by selling smart speakers and guitars that tune themselves. They have also…

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Fox and Comcast are about to settle their $36 billion battle for Sky

Fox and Comcast are about to settle their $36 billion battle for Sky

The auction for Sky will officially begin Friday at 5 p.m. London time (noon ET). Analysts say bidders are likely to offer 16 pounds ($21) per share or more for the British broadcaster. Comcast reportedly expects Fox to force it to up its bid for Sky. Two of America’s largest media companies are about to settle a bidding war to buy a coveted overseas competitor. Twenty-First Century Fox and Comcast will go head to head…

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Invesco reportedly getting Oppenheimer Funds from MassMutual in $5 billion deal

Invesco reportedly getting Oppenheimer Funds from MassMutual in $5 billion deal

Oppenheimer Funds has been a holding of MassMutual for nearly two decades. The asset manager handled about $250 billion of investments as of the end of last month, according to its website. Invesco is going to buy OppenheimerFunds, a subsidiary of Massachusetts Mutual Life Insurance, in a more than $5 billion deal, according to a report Friday by Financial Times service Ignites. The asset manager has been a holding of MassMutual for nearly two decades,…

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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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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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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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