Comcast is said to include $2.5 billion break-up fee in Fox bid

Comcast is said to include $2.5 billion break-up fee in Fox bid

Comcast is prepared to offer $2.5 billion in break-up fees in its bid for Twenty-First Century Fox assets, according to the Financial Times. The cable company, and owner of CNBC-parent NBCUniversal, is planning to make a $60 billion, all-cash offer in mid-June for some of Fox’s assets, sources have said. An earlier bid was rebuffed in lieu of a potential deal with Disney. A regulatory filing last month showed Fox initially chose Disney over Comcast…

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UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

UTC gets European go-ahead for $23 billion purchase of Rockwell Collins

A $23 billion bid from United Technologies Corp (UTC) to buy aircraft electronic equipment maker Rockwell Collins was approved by the European Union (EU) on Friday. The deal between the two U.S. firms is the biggest merger in aerospace history, according to reports. It was given the go-ahead by Europe’s competition watchdog on the condition that UTC first sells businesses making actuators, pilot controls, ice protection and oxygen systems. Commissioner Margrethe Vestager, in charge of…

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Redstone makes concessions on Viacom CEO to clinch CBS merger

Redstone makes concessions on Viacom CEO to clinch CBS merger

Shari Redstone, the media heiress whose family controls CBS and Viacom, has offered CBS CEO Leslie Moonves to drop her demands for Viacom CEO Bob Bakish to be his No. 2 following a merger, as long as Bakish sits on the combined company’s board, people familiar with the matter told Reuters on Friday. The offer is an attempt by Redstone to resolve an impasse in the deal negotiations. Redstone has been trying to put together…

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ConocoPhillips moves to take over Venezuelan PDVSA’s Caribbean assets

ConocoPhillips moves to take over Venezuelan PDVSA’s Caribbean assets

U.S. oil firm ConocoPhillips has moved to take Caribbean assets of Venezuela’s state-run PDVSA to enforce a $2 billion arbitration award over a decade-oil nationalization of its projects in the South American country, according to three sources familiar with its actions. The U.S. firm targeted facilities on the islands of Curacao, Bonaire and St. Eustatius that accounted for about a quarter of Venezuela’s oil exports last year. The three play key roles in processing, storing…

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Steakhouse Del Frisco’s to acquire tapas restaurant owner Barteca for $325 million

Steakhouse Del Frisco’s to acquire tapas restaurant owner Barteca for $325 million

Del Frisco’s Restaurant Group, Inc.(NASDAQ:DFRG), known for its upscale steakhouses, told CNBC it will acquire Barteca Restaurant Group for $325 million in cash in a bid to expand its footprint and balance its portfolio. The deal announced Monday represents a calculated move by Del Frisco’s, which owns Del Frisco’s Grill, Del Frisco’s Double Eagle and Sullivan’s Steak House, to grow in scale and reach new customers. It’s a big step for a company with a…

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SK Telecom and Macquarie acquire security firm ADT Caps for $1.2b

SK Telecom and Macquarie acquire security firm ADT Caps for $1.2b

SK Telecom, South Korea’s largest wireless carrier, will acquire controlling stakes of local security firm ADT Caps, the company has announced. The company bought a 55 percent stake in Siren Holdings Korea, which owns 100 percent of ADT Caps, for 702 billion won, while investment banking firm Macquarie Group bought 45 percent for 574 billion won. The two bought the firm from Carlyle Group and the acquisition is expected to be completed in the third…

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Job site operator Glassdoor to be acquired by Japan’s Recruit for $1.2 billion

Job site operator Glassdoor to be acquired by Japan’s Recruit for $1.2 billion

Japanese HR services provider Recruit Holdings said on Wednesday it has agreed to buy popular California-based job site operator Glassdoor for $1.2 billion to tap into its database of company reviews and salary data. Privately held Glassdoor, founded in 2007, last raised funds in 2016, valuing the company at $1 billion. It counts billionaire Chase Coleman’s hedge fund Tiger Global Management, Google Capital, and T. Rowe Price among its investors. Buying Glassdoor will expand Recruit’s…

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Disney CEO Bob Iger: Confident deal with Fox will close

Disney CEO Bob Iger: Confident deal with Fox will close

Walt Disney CEO Bob Iger told CNBC on Tuesday that he remains “confident” the deal with Twenty-First Century Fox will move forward. Disney’s $52 billion bid for Fox was announced in December. On Monday, sources told CNBC that Comcast is planning a $60 billion all-cash bid to acquire Fox’s assets if the U.S. government approves AT&T’s acquisition of Time Warner. “We made a good deal, actually a deal that shareholders reacted quite favorably to and…

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Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz

Alibaba expands South Asia footprint, snapping up Pakistani online retailer Daraz

Alibaba has bought Pakistani e-commerce firm Daraz, as the Chinese tech giant looks to increase its presence in South Asia. Financial details of the transaction, which was announced on Tuesday, were undisclosed. Daraz, founded in 2012, is backed by European tech incubator Rocket Internet. It operates in Bangladesh, Myanmar, Sri Lanka and Nepal as well as Pakistan. The deal marks another foray for billionaire entrepreneur Jack Ma’s Alibaba into the South Asian market. The e-commerce…

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Icahn, Deason want bid of at least $40 per share for Xerox

Icahn, Deason want bid of at least $40 per share for Xerox

Carl Icahn and Darwin Deason, shareholders in Xerox Corporation(NYSE:XRX) who oppose an agreed deal with Fujifilm, said they would consider an all-cash bid of at least $40 per share — a 43 percent premium to the Japanese firm’s offer. In setting a minimum price tag on Xerox, the billionaire investors have thrown the ball back into Fujifilm’s court while also gaining time to woo other investors after Xerox failed on Monday to gain a quick…

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