Tag Archives: billion

Adidas (ADDYY) has reached an agreement to sell Reebok to Authentic Brands for nearly $2.5 billion, in a majority cash deal. The German sports retailer bought Reebok in 2006 for $3.8 billion to help compete against Nike (NKE). However, after 15 years of lower-than-expected sales, its ready to part ways with the American brand. “Reebok has been a valued part of Adidas, and we are grateful for the contributions the brand and the team behind it have made to our company. With this change in… Source link

(Bloomberg) — Moderna Inc. and BioNTech SE, the world’s leading Covid-19 vaccine makers, tumbled for the second day in a row, losing roughly $60 billion in combined market value as investors balked at the companies’ lofty valuations. The declines deepened Wednesday with Moderna closing 16% lower and BioNTech dropping 14% as trading volume picked up. The stocks had soared more than 360% each this year through Monday, when both set record closing highs. Wall Street has been divided on the… Source link

(Bloomberg) — NortonLifeLock Inc. is set to buy Avast Plc in a deal valued at as much as $8.6 billion, giving the U.S. cybersecurity company access to one of the biggest customer bases in the industry. Avast stockholders will receive cash and shares that value the deal at $8.1 billion to $8.6 billion, the companies said Tuesday in a statement. Once the merger is completed, NortonLifeLock Chief Executive Officer Vincent Pilette will remain CEO and the company will have dual headquarters in… Source link

(Bloomberg) — DraftKings Inc. agreed to buy Golden Nugget Online Gaming Inc. in a deal valued at about $1.56 billion, expanding the fantasy-sports giant’s presence in the hot market for online betting. DraftKings expects use the combined resources to boost sales and market share, yielding $300 million in savings from overlapping costs and creating new cross-selling opportunities, the companies said Monday in a statement. The deal, which has been approved by both companies’ boards, is… Source link

Square Inc. said it reached a deal with Afterpay Limited to acquire the buy now, pay later company in an all-stock deal valued at $29 billion. Square said in a statement today that the acquisition “aims to enable the companies to better deliver compelling financial products and services that expand access to more consumers and drive incremental revenue for merchants of all sizes.” More from WWD The company expects to close the deal in the first quarter of 2022. Jack Dorsey, co-founder and… Source link

Larry Page, left, and Sergey Brin, co-founders of Google Inc. JB Reed | Bloomberg | Getty Images Google founders and controlling Alphabet stakeholders Larry Page and Sergey Brin have sold more than $1 billion worth of stock combined since May of this year. Beginning in May, the two sold Class A and Class C shares worth more than $1.07 billion, according to filings with the Securities and Exchange Commission compiled by OpenInsider. Brin’s sales total more than $610 million, while Page’s sales… Source link

Pfizer (PFE) CEO Albert Bourla is betting big on repeating the success of its COVID-19 vaccine with an experimental oral treatment — and he’s putting the company’s money where its mouth is. Bourla told Yahoo Finance Wednesday the company is committing $1 billion to develop the oral treatment — a protease inhibitor — which would give the world an easy-to-use, targeted treatment, hopefully by year’s end. The current market for COVID-19 treatments includes monoclonal antibodies and some… Source link

(Bloomberg) — Rio Tinto Group, the world’s biggest iron ore miner, reported its highest-ever interim profit and will pay $9.1 billion in dividends as the company and its global rivals cash in on this year’s commodities rally. Rio is the first of the majors to post earnings, kicking off a reporting season that’s expected to see record results across the board. The industry has been one of the biggest beneficiaries from the world’s efforts to emerge from the pandemic. The trillions of… Source link

Text size Remember Yahoo!? After the internet company sold its core business to Verizon Communications, Altaba was what was left. David Paul Morris/Getty Images The liquidation of Altaba, the former Yahoo, is still going on. The fund said Monday that it would distribute $7.48 a share in cash to its shareholders in early August, after… Source link

Text size Remember Yahoo!? After the internet company sold its core business to Verizon Communications, Altaba was what was left. David Paul Morris/Getty Images The liquidation of Altaba, the former Yahoo, is still going on. The fund said Monday that it would distribute $7.48 a share in cash to its shareholders in early August, after… Source link