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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State Street shares fall most in 2 years after halting buyback to complete merger

State Street shares fall most in 2 years after halting buyback to complete merger

The financial services giant agreed to buy Charles River Development for $2.6 billion in an all-cash deal, which is expected to close in the fourth quarter of 2018. However, State Street also said it will suspend a $950 million share repurchase through the end of the year to help finance the transaction. State Street shares dropped 7 percent on Friday, on track for their worst day in two years, after the bank announced it will…

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After exiting battle for Fox, Comcast fires ‘warning shot’ to Disney over Sky takeover, analyst says

After exiting battle for Fox, Comcast fires ‘warning shot’ to Disney over Sky takeover, analyst says

The trans-continental bidding war between Comcast and Disney had become one of the most intriguing media battles for decades, given the sheer scale of money on the table and the two CEOs’ well-known contempt for one another. Comcast announced Thursday that it would drop out of the race to acquire Fox’s assets, paving the way for Disney to complete its takeover. “This is one day going to make a fantastic scripted drama in and of…

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Strike three: Comcast can add Fox to list of huge acquisitions it’s failed to close

Strike three: Comcast can add Fox to list of huge acquisitions it’s failed to close

Comcast CEO Brian Roberts is dropping his pursuit to buy Fox. Roberts has also withdrawn bids to buy Disney and Time Warner Cable. Roberts could still walk away with an M&A win if Comcast buys Sky — or he could add yet another swing and miss. Declaring failure on a huge telecommunications acquisition has become old hat for Comcast CEO Brian Roberts. Comcast on Thursday formally withdrew its bid for Fox to focus on buying…

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JAB-backed Krispy Kreme is nearing a deal to acquire Insomnia Cookies

JAB-backed Krispy Kreme is nearing a deal to acquire Insomnia Cookies

  Krispy Kreme Doughnut is nearing a deal to acquire Insomnia Cookies, sources tell CNBC. Investment firm JAB Holding acquired Krispy Kreme in 2016 for $1.35 billion. The deal would help Krispy Kreme expand beyond its iconic glazed doughnuts. Krispy Kreme Doughnut is nearing a deal to acquire Insomnia Cookies in a move that would help the coffee and doughnut chain move beyond the glazed treats for which it is known, sources familiar with the…

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A surprising bid for gun maker Remington, and an unsurprising rejection

A surprising bid for gun maker Remington, and an unsurprising rejection

The Navajo Nation made a cash offer for gun maker Remington, with the intention of pushing it toward “smart gun” technology. Navajo Nation is one of the largest Native American tribes in the country with more than 350,000 members and land holdings of more than 27,000 square miles in Arizona, New Mexico and Utah. The bid was rejected last week after Remington had delayed a formal reply for nearly two months, according to a memo…

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Arconic shares jump 10.5 percent on report of private equity firm’s buyout interest

Arconic shares jump 10.5 percent on report of private equity firm’s buyout interest

Metals manufacturer Arconic shares spiked on Monday after a report released from The Wall Street Journal said the company was drawing interest from private equity firms. The stock closed with shares up 10.47 percent at $19.20 per share on Monday, making it the biggest gainer in the Standard & Poor’s 500 index. The stock had its best daily performance since Feb. 2, 2017. According to a report from The Wall Street Journal released on Friday,…

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Comcast increases cash offer for Sky to $34 billion, topping Twenty-First Century Fox

Comcast increases cash offer for Sky to $34 billion, topping Twenty-First Century Fox

Comcast on Wednesday raised its cash offer for Sky to $34 billion, topping Twenty-First Century Fox’s latest bid. Comcast said its upped bid has been recommended by the independent committee of Sky. The company also said it has earmarked funds to fulfill the terms of the deal. Earlier Wednesday, Fox raised its offer to about $32.5 billion. The two media giants have been in a bidding war for the British television group. Fox had originally…

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Keurig Dr Pepper’s first week post-merger brings a defection, an acquisition and new volleys in coffee wars

Keurig Dr Pepper’s first week post-merger brings a defection, an acquisition and new volleys in coffee wars

It’s barely a week into the closing of the mega-merger that created Keurig Dr Pepper and already the beverage industry has seen a defection, an acquisition and a further jolt in the coffee wars. The deal, which closed Monday, creates a beverage giant with $11 billion in revenue that combines Dr Pepper Snapple’s drink and distribution network with Keurig’ Green Mountain’s coffee business. The giant is backed by JAB Holding, the investment firm that has…

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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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