Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on Pinnacle Foods and that means it may not want to buy Campbell Soup

Kraft Heinz passed on the opportunity to bid on Pinnacle Foods in a recent sale of the company, sources tell CNBC. Kraft Heinz told Pinnacle Foods “such an acquisition would not be a good strategic fit … at the current valuation levels.” Its disinterest in Pinnacle may have implications for its potential interest in Campbell, should the soup giant put itself up for sale. Kraft Heinz recently passed on the opportunity to bid on Pinnacle…

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AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T falls after missing on revenue in first results since Time Warner deal close

AT&T shares fell more than 2 percent after the telecom company reported mixed second quarter earnings and revenue. On the call, Stephenson and fellow executives discussed their strategic vision for combining AT&T and Time Warner, including increased investment in premium programming and direct to consumer products. AT&T shares fell more than 2 percent, before paring some of those losses, after the telecom company reported mixed second quarter earnings and revenue. Here’s how the company did…

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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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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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Groupon surges on report it’s seeking a buyer

Groupon surges on report it’s seeking a buyer

Groupon gained almost 11 percent Monday following a weekend report that the company is seeking a buyer. Shares closed at $4.83 after jumping as much as 13 percent to $4.96. That makes for the stock’s best day since February 2017. Recode reported Saturday that the company, which pioneered local online deals, is considering a sale. Alibaba, which took a nearly 6 percent stake in the the company in 2016, could step in as a buyer,…

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Broadcom reaches deal to acquire CA Technologies for $18.9 billion in cash

Broadcom reaches deal to acquire CA Technologies for $18.9 billion in cash

Broadcom and CA Technologies on Wednesday announced that Broadcom has agreed to acquire the enterprise technology company for $18.9 billion in cash. The deal values CA stock at about $44.50 per share, or a premium of about 20 percent to the closing price of CA common stock on July 11. The acquisition represents a strategic win for Broadcom, furthering its mission to acquire “mission critical technology businesses,” following its failed takeover bid for rival Qualcomm….

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