British bank CYBG clinches $2.3 billion takeover of Virgin Money

British bank CYBG clinches $2.3 billion takeover of Virgin Money

Mid-sized British bank CYBG said on Monday it had clinched a deal to take over rival Virgin Money after over a month of talks, in a deal valuing the lender at around 1.7 billion pounds ($2.26 billion). The deal will create Britain’s sixth biggest bank by assets. It is on the same terms as an increased bid CYBG put forward earlier in June, will see Virgin Money shareholders receive 1.2125 CYBG shares per Virgin Money…

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Disney is expected to add cash to its bid for Twenty-First Century Fox assets

Disney is expected to add cash to its bid for Twenty-First Century Fox assets

Disney is expected to add cash to its bid for Twenty-First Century Fox assets, sources tell CNBC. The sources spoke days after CNBC parent Comcast launched a $65 billion cash bid for the assets, which include Fox’s movie studios, networks National Geographic and FX, Star TV, stakes in Sky, Endemol Shine Group and Hulu as well as regional sports networks. Comcast’s bid was a 19 percent premium to Disney’s offer. Earlier, Disney reached an agreement…

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Vintage Capital to buy Rent-A-Center for $1.37 billion

Vintage Capital to buy Rent-A-Center for $1.37 billion

Rent-A-Center said on Monday it would be taken private by buyout firm Vintage Capital Management in a deal that values the rent-to-own furniture retailer at $1.37 billion, including net debt. Vintage offered $15 per Rent-A-Center share, matching the firm’s first proposal made in July last year. The latest offer represents a premium of 25 percent to the stock’s Friday close. The Plano, Texas-based company has been under pressure from activist investors Engaged Capital and Marcato…

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Fujifilm sues Xerox over aborted merger, seeks more than $1 billion

Fujifilm sues Xerox over aborted merger, seeks more than $1 billion

Fujifilm sued Xerox on Monday for well over $1 billion plus punitive damages, accusing it of succumbing to pressure from activist investors Carl Icahn and Darwin Deason in abandoning a proposed $6.1 billion merger. Fujifilm accused Xerox of engaging in “intentional and egregious conduct” in calling off the merger, after the photocopier company reached a settlement with Icahn and Deason that handed control to new management, according to the complaint filed with the U.S. District…

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Bain to acquire Varsity Brands, a top maker of cheerleader uniforms and school spirit items, for roughly $2.5 billion

Bain to acquire Varsity Brands, a top maker of cheerleader uniforms and school spirit items, for roughly $2.5 billion

Bain Capital Private Equity is planning to acquire Varsity Brands, a company that capitalizes on the business of school spirit, in a deal reportedly worth about $2.5 billion. Bain Capital announced the plans Tuesday but didn’t disclose the price. Before the announcement, sources familiar with the situation told CNBC the deal would be worth roughly $2.5 billion. Varsity Brands’ foothold in the school spirits industry includes everything from the sale of cheerleading uniforms and class…

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Roche agrees to pay $2.4 billion to buy the rest of Foundation Medicine

Roche agrees to pay $2.4 billion to buy the rest of Foundation Medicine

Swiss drugmaker Roche Holding AG has agreed to pay $137 per share to buy the rest of Foundation Medicine (FMI), a $2.4 billion transaction that values the U.S. genomic profiling group at $5.3 billion, the partners said on Tuesday. The deal, backed by the boards of both companies, is set to close in the second half of this year, they said in a statement. The offer price represented a premium of 29 percent to FMI’s…

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Mastercard is Investing Heavily in Blockchain

Mastercard is Investing Heavily in Blockchain

Mastercard keeps searching for ways to provide a better service, trusting in the blockchain to reach this goal. The use of blockchain technology may provide a solution to transcend payment systems towards a more globalized and faster environment. The rising number of fintechs and blockchain companies around the world is an important sign of the imperative needs to innovate on a market as complex and critical as the financial one. With a large number of…

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Judge approves AT&T-Time Warner deal without any conditions

Judge approves AT&T-Time Warner deal without any conditions

Judge Richard Leon has approved the AT&T-Time Warner merger rejecting the Department of Justice’s argument. Cramer on AT&T-Time Warner ruling: ‘I thought the government made a better case than this’ Even CNBC’s Jim Cramer was surprised by the court ruling that approved AT&T’s attempted $85.4 billion merger with cable and entertainment colossus Time Warner. On Tuesday, a federal judge ruled that AT&T’s purchase of Time Warner was legal, effectively paving the way for the merger…

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Former NYSE President’s blank check Far Point Acquisition files for a $400 million IPO

Former NYSE President’s blank check Far Point Acquisition files for a $400 million IPO

Far Point Acquisition, a blank check company formed by former NYSE Group President Tom Farley and Third Point to acquire a fintech business, filed on Tuesday with the SEC for an initial public offering. The Wilmington, DE-based company plans to raise $400 million by offering 40 million units at $10 per unit. At that price, Far Point Acquisition would command a market value of $500 million.¬†Each unit consists of one share of our common stock…

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KKR to take Envision private for $5.57 billion in healthcare push

KKR to take Envision private for $5.57 billion in healthcare push

KKR said on Monday it will take U.S. physician services provider Envision Healthcare private in a deal valued at $5.57 billion, its latest acquisition in the healthcare sector. The private equity firm saw off competition from peers Carlyle Group, TPG Global and others as it sealed the deal for $46 per share – a premium of 5.4 percent to Envision’s last close on Friday. Envision’s shares were up 2.4 percent at $44.7 in premarket trading….

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