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 PLC 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…

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Conagra Brands to acquire Pinnacle Foods for about $10.9 billion

Conagra Brands to acquire Pinnacle Foods for about $10.9 billion

Conagra Brands on Wednesday announced plans to acquire Pinnacle Foods in a cash-and-stock deal valued at about $8.1 billion that furthers Conagra’s transformation under CEO Sean Connolly and its push into frozen foods. Including debt, the deal is valued at $10.9 billion. The pairing of Healthy Choice-owner Conagra and Bird’s Eye-owner Pinnacle would create the second-largest U.S. frozen food company behind Nestle, analysts at RBC Capital Markets have written. Conagra has poured money into its…

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GE may sell off industrial engine unit to private equity firm Advent International

GE may sell off industrial engine unit to private equity firm Advent International

General Electric may sell a unit that manufactures industrial engines to a private equity firm, The Wall Street Journal reported on Sunday, as part of a wide ranging effort to revitalize the moribund manufacturing giant. The Journal, citing unnamed sources familiar with the matter, said GE could complete a transaction as soon as Monday that would be worth $3 billion or more. Advent International is said to have topped another firm that also bid on…

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Campbell shares soar on report Kraft is interested in buying the soup company

Campbell shares soar on report Kraft is interested in buying the soup company

Campbell Soup’s stock gained more than 9 percent Monday, following a report that Kraft Heinz is interested in buying the soup company. The story, which appeared in the New York Post, did not say whether Kraft Heinz had a hired a bank to explore such interest, a step that often precedes serious attempts at dealmaking. Campbell previously announced a strategic review in which it would leave “no sacred cows,” raising speculation the company could do…

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Conagra Brands is nearing a deal to acquire Pinnacle Foods

Conagra Brands is nearing a deal to acquire Pinnacle Foods

Conagra Brands is in advanced talks to acquire Pinnacle Foods in a deal that could be announced as soon as this week, sources familiar with the situation told CNBC on Tuesday. A deal price could not be immediately obtained, but it will be financed partially in cash and partially in stock, the sources said. Shares of Pinnacle were up 2.51 percent on CNBC’s report, giving it a market capitalization of $8.10 billion, while shares of…

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TPG, Rise Fund Acquire Energy Efficiency firm CLEAResult

TPG, Rise Fund Acquire Energy Efficiency firm CLEAResult

The TPG investment fund and its environmental spinoff are banding together to acquire Austin, Texas-based energy efficiency firm CLEAResult for an undisclosed sum. TPG Growth and The Rise Fund are buying CLEAResult from global equity firm General Atlantic. The deal is expected to close later in 2018, pending regulatory approvals and other conditions. CLEAResult was a small firm started up in 2003 which now has hundreds of utility customers across the U.S. The firm focuses…

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AT&T in Talks to Acquire AppNexus Ad Platform

AT&T in Talks to Acquire AppNexus Ad Platform

By Alex Heath AT&T is in talks to acquire the advertising company AppNexus, Cheddar has learned. Privately-held AppNexus operates one of the largest independent ad exchanges, which facilitates the buying and selling of digital ads. The purchase by AT&T would signal the telecom giant’s ambition to challenge the dominance of Google and Facebook in online advertising. People familiar with the talks told Cheddar that the deal is close to being finalized. The price of the…

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Cisco to acquire location-services company July Systems

Cisco to acquire location-services company July Systems

Cisco Systems Inc. CSCO, -0.88% said Tuesday that it plans to acquire privately held July Systems Inc., which makes location-based software. “This acquisition also supports our journey to intent-based networking -a fundamentally new way of building and managing networks for the digital era,” Cisco said in a release. July Systems will be part of the company’s Enterprise Networking Group. Terms of the deal weren’t disclosed. Cisco shares are down 1.4% in premarket trading but up…

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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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