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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GlaxoSmithKline shares jump after report of possible break-up

GlaxoSmithKline shares jump after report of possible break-up

GlaxoSmithKline shares jumped 4 percent in intraday trading after a Financial Times report that the company’s chairman is considering splitting up the company. Philip Hampton has discussed creating a new company from its pharma and vaccines divisions, according to the FT report. Shares last reached this height on June 14 when the company announced positive results in studies that treated HIV with a two-drug regimen. Shares of GlaxoSmithKline jumped as much as 4 percent in…

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Chinese tech giant Tencent plans to list its online music business in the United States

Chinese tech giant Tencent plans to list its online music business in the United States

Chinese internet giant Tencent said it plans to spin off its streaming music service on a U.S. stock exchange. In a statement issued on Sunday through the Hong Kong stock exchange, Tencent said the terms of the proposed spin-off, including offering size, price range and other details have not been finalized. The company added that details will be made “as and when appropriate.” Tencent provides services in music, social networking , e-commerce, mobile games, booking…

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Cramer sees Pfizer’s reorganization as a ‘prelude’ to a spinoff of its consumer health-care business

Cramer sees Pfizer’s reorganization as a ‘prelude’ to a spinoff of its consumer health-care business

Pfizer’s announced reorganization could lead to an eventual spinoff of its consumer health-care business, CNBC’s Jim Cramer said Wednesday. The drug giant said it would reorganize into three units: Innovative medicines, established medicines and consumer healthcare, which it had been trying to sell since last year. The changes take effect at the start of fiscal 2019. “I think it’s a prelude to splitting up,” Cramer said on “Squawk on the Street.” Cramer, the host of…

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GE may sell off industrial engine unit to private equity firm Advent International

GE may sell off industrial engine unit to private equity firm Advent International

General Electric may sell a unit that manufactures industrial engines to a private equity firm, The Wall Street Journal reported on Sunday, as part of a wide ranging effort to revitalize the moribund manufacturing giant. The Journal, citing unnamed sources familiar with the matter, said GE could complete a transaction as soon as Monday that would be worth $3 billion or more. Advent International is said to have topped another firm that also bid on…

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Jonathan Bush is out as CEO, Athenahealth considers sale of the company

Jonathan Bush is out as CEO, Athenahealth considers sale of the company

Athenahealth said Wednesday it is considering strategic alternatives as its CEO Jonathan Bush steps down, effective immediately, as he faces allegations including that he attacked his then wife 13 years ago. Athenahealth, which sells a software platform to medical providers, is fighting a takeover offer for $160 a share from Paul Singer’s activist firm Elliott Management. Before Wednesday’s announcement, the stock was at $151 a share, about 6 percent below the offer price. The company…

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Wyndham Worldwide Completes Spin-off of Wyndham Hotels & Resorts; Becomes Wyndham Destinations

Wyndham Worldwide Completes Spin-off of Wyndham Hotels & Resorts; Becomes Wyndham Destinations

Wyndham Destinations, Inc. (NYSE: WYND), formerly known as Wyndham Worldwide Corporation, today announced that it has completed the spin-off of Wyndham Hotels & Resorts, Inc. (NYSE: WH) to become the world’s largest vacation ownership and exchange company. Wyndham Destinations now trades on the New York Stock Exchange under the new symbol “WYND.” Wyndham Destinations has a global presence in 110 countries at more than 220 vacation ownership resorts and 4,300 affiliated exchange properties. “Over the…

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Tyson to sell Sara Lee and three other non-protein brands

Tyson to sell Sara Lee and three other non-protein brands

Tyson Foods, the No. 1 U.S. meat processor, said on Friday it would sell Sara Lee Frozen Bakery and three other non-protein brands to private-equity firm Kohlberg & Co., as the company sharpens its focus on its core business. Tyson did not disclose the financial terms of the deal, which includes the sale of Chef Pierre, Bistro Collection and its breakfast brand Van’s. “We’re focused on expanding Tyson Foods’ leadership position in protein,” Sally Grimes,…

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