Justice Department probes T-Mobile-Sprint merger’s effect on smaller wireless companies

Justice Department probes T-Mobile-Sprint merger’s effect on smaller wireless companies

The U.S. Department of Justice is examining how the proposed merger between T-Mobile US and Sprint could affect prices for smaller wireless operators, according to two people familiar with the matter. A T-Mobile and Sprint merger would eliminate competition between the two carriers that have been the dominant players in selling network access to wireless companies that often serve pre-paid or price-conscious consumers, and could lead to higher prices for those users. The Justice Department,…

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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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International Paper to drop bid for Smurfit Kappa

International Paper to drop bid for Smurfit Kappa

International Paper confirmed on Tuesday that it will not make an offer for Irish packaging company Smurfit Kappa, because of lack of engagement from Smurfit’s management. “IP believes the revised proposal was highly attractive and formed a sound basis for engagement, which the company viewed as essential to determining the full value potential of the combination,” the paper-packaging firm said in a statement. International Paper has decided to end its pursuit after courting Smurfit for…

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Northrop Grumman wins US antitrust approval to buy Orbital ATK

Northrop Grumman wins US antitrust approval to buy Orbital ATK

U.S. defense contractor Northrop Grumman won U.S. antitrust approval to buy solid rocket motor supplier Orbital ATK with conditions, the Federal Trade Commission said on Tuesday. The $7.8 billion deal was approved on condition that Northrop supply the solid rocket motors to competitors for missile contracts and to separate the two companies’ operations with a firewall, the FTC said in a statement. Northrop said in a statement it expects the transaction will be completed after…

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WhatsApp’s co-founders reportedly gave up $1.3 billion as Facebook merger devolved to ‘low class’ spat

WhatsApp’s co-founders reportedly gave up $1.3 billion as Facebook merger devolved to ‘low class’ spat

New details have emerged about the long-standing tension between Facebook and its biggest acquisition, WhatsApp, according to The Wall Street Journal. The Journal reported on Tuesday that WhatsApp co-founders Brian Acton and Jan Koum gave up $900 million and $400 million, respectively, by leaving Facebook before they were eligible for stock awards. Their departure followed mounting pressure from Facebook executives to consider advertising and other monetization methods, the Journal said. The pair, both vocal critics…

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Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Sharp to buy Toshiba’s PC business and issue $1.8 billion in new shares

Japan’s Sharp said it will buy Toshiba’s personal computer business and issue $1.8 billion in new shares to buy back preferred stock from banks, highlighting a swift recovery under the control of Foxconn. The acquisition of the PC business for $36 million marks a return by Sharp to a market it quit eight years ago, even if its comparatively low cost underscores dwindling demand in a world where many consumers spend more money on their…

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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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Microsoft to buy GitHub, a platform for software developers, for $7.5 billion in stock

Microsoft to buy GitHub, a platform for software developers, for $7.5 billion in stock

Microsoft on Monday announced plans to acquire software developer platform GitHub in a deal valued at $7.5 billion. GitHub was valued at $2 billion in its last funding round in 2015, though it has yet to turn a profit. Microsoft has seen its once-dominant Windows unit slip in market share in recent years, spurring a cloud-first reorganization and sending Microsoft looking for alternatives to court developers. “Microsoft is a developer-first company, and by joining forces…

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Italy’s UniCredit exploring merger with French rival SocGen

Italy’s UniCredit exploring merger with French rival SocGen

Italy’s biggest bank, UniCredit SpA is exploring a merger with France’s Societe Generale SA in a move that would see the European banks leading the way for banking mergers on the continent, the FT said on Sunday. UniCredit’s French chief executive, Jean-Pierre Mustier, a former head of SocGen’s investment banking unit, has been developing the idea for several months now, the FT said, citing sources. Although no formal approach has been made, SocGen directors have…

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With deal to close this week, Bayer to retire Monsanto name

With deal to close this week, Bayer to retire Monsanto name

Germany’s Bayer will wrap up the $63 billion takeover of Monsanto on Thursday and also retire the U.S. seeds maker’s 117-year-old name. The German drugmaker had received all required approvals from regulatory authorities, it said in a statement on Monday. “Bayer will remain the company name. Monsanto will no longer be a company name. The acquired products will retain their brand names and become part of the Bayer portfolio,” it said. Bayer launched a 6…

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