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Tag: merger

Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Time Warner shares shoot higher after judge rules in favor of merger with AT&T; other media stocks gain

Finance
Media and telecommunications stocks shot higher in aftermarket trading Tuesday after a federal judge ruled in AT&T's favor on its $ 85 billion acquisition of Time Warner. Time Warner shares traded more than 5 percent higher in aftermarket trading. The widely anticipated ruling comes amid pent up interest in forging combinations across the entertainment and communications industries. CNBC's parent company, Comcast, has been eyeing a $ 60 billion offer for the Twenty-First Century Fox studio and production assets that are currently part of a deal with Disney. ...
Sainsbury's-Asda merger facing investigation

Sainsbury's-Asda merger facing investigation

Business
Britain's competition regulator has confirmed it is investigating the planned merger between Sainsbury's and Asda. The Competition and Markets Authority (CMA) said it was inviting interested parties to comment on the impact of the deal ahead of a formal "phase one" inquiry.A deal between Sainsbury's and Asda, currently the second and third biggest UK supermarkets, would create a grocery powerhouse, overtaking Tesco as the market leader.It would have 2,800 stores across the UK - including the Argos business already owned by Sainsbury's - with combined revenues of £51bn.Some experts think the CMA could ultimately order the company to dispose of at least 75 stores.There are also concerns about the impact the tie-up would have on suppliers - and this part of the sector is ...
Sainsbury's and Asda defend £13bn merger

Sainsbury's and Asda defend £13bn merger

Business
Sainsbury's and Asda say their planned £13bn merger will maintain the number of stores operated by the two brands and cut shoppers' costs.The deal - likely to face close scrutiny by competition authorities - will create a grocery powerhouse overtaking Tesco as the number one player in the sector, with combined revenues of £51bn.There are no plans to close Sainsbury's or Asda stores though executives are targeting savings of £500m, including "operational efficiencies" and by opening Argos concessions in Asda stores.Sainsbury's chief executive Mike Coupe said however that he could not dismiss the possibility that regulators could order the disposal of some sites.Analysts at Global Data said at least 75 would have to go.Sainsbury's said customers would see benefits including price cuts of 10%
Sainsbury's and Asda in merger talks

Sainsbury's and Asda in merger talks

Business
Merger talks between British supermarket chains Sainsbury's and Asda are at an "advanced" stage, Sainsbury's has confirmed.The two brands are expected to be retained should a merger go ahead.Sainsbury's and Asda - the UK arm of Walmart - are the second and third largest supermarkets in the UK.The combined group would comprise 2,800 stores and would represent 31.4% of the UK grocery market - slightly more than that of market leader Tesco. 'Game changer'"Sainsbury's confirms that it and Walmart Inc. are in advanced discussions regarding a combination of the Sainsbury's and Asda businesses," a statement from its holding company, J Sainsbury plc, said.The deal would be worth £10bn and a further announcement is expected on Monday morning. Richard Lim, from economics research consultancy Retail
Sprint, T-Mobile set to announce a $26 billion merger, with John Legere at the helm

Sprint, T-Mobile set to announce a $26 billion merger, with John Legere at the helm

Finance
T-Mobile is closing in on a deal to merge with Sprint that will value Sprint just above its current market price of $ 6.50 per share, people familiar with the matter told CNBC, and will likely place T-Mobile's chief in the top job.John Legere will run the combined company, which will have dual headquarters in Bellevue, Washington and Kansas City, according to one of the people. Some Sprint executives are expected to remain with the company even after a deal is announced, the person said.The $ 26 billion all-stock deal could be announced as soon as Sunday, said the people, who asked not to be named because the negotiations are private. No deal has been signed and talks could still fall apart, the people said. SoftBank, which owns about 85 percent of Sprint, will allow Deutsche Telekom, whic...