Acquisitions/Mergers/Shareholdings

Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China.As of the end of December, the closing conditions for the share purchase agreement had yet to be fully satisfied, Baidu said in a filing late Monday.Copyright ©2024 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Baidu has called off a $3.6 billion deal to buy JOYY’s video-based entertainment live-streaming business in China.As of the end of December, the closing…

Updated Dec. 18, 2023 7:37 am ETU.S. Steel agreed to be acquired by Nippon Steel in a $14.1 billion deal that would combine two steel giants in America and Japan.Nippon Steel agreed to acquire the Pittsburgh-based United States Steel for $55 a share, marking a 40% premium to the company’s share price when the market closed on Friday. Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Updated Dec. 18, 2023 7:37 am ETU.S. Steel agreed to be acquired by Nippon Steelin a…

Updated Dec. 15, 2023 5:41 pm ETActivision Blizzard has agreed to pay about $50 million to settle a high-profile lawsuit by a California regulator that helped spur Microsoft’s October takeover of the videogame company, according to people familiar with the matter.California’s Civil Rights Department sued Activision in mid-2021, alleging its leadership ignored numerous employee complaints of sexual harassment, discrimination and pay disparity. Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…

Updated Dec. 11, 2023 4:29 am ETBytedance’s TikTok will invest more than $1.5 billion in a deal with GoTo Group that will allow the Chinese video-sharing app to resume retail operations in Indonesia, one of its most successful e-commerce markets.The companies said Monday that TikTok Shop Indonesia and GoTo’s Tokopedia e-commerce platform will be combined under the existing Tokopedia entity, with TikTok taking a 75% controlling stake.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…

Updated Dec. 11, 2023 8:13 am ETOccidental Petroleum announced a $12 billion agreement Monday to buy West Texas producer CrownRock as the independent oil company seeks to keep pace with rapid consolidation in the industry. As part of the cash and stock deal, Occidental said it would incur $9.1 billion of new debt, issue about $1.7 billion of common equity and take on CrownRock’s $1.2 billion existing debt.Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Updated Dec.…

Updated Dec. 5, 2023 4:45 pm ETProcter & Gamble said it was booking a $1.3 billion charge on its Gillette business, adjusting the value of a shaving giant that it took over nearly two decades ago.  P&Gbought Gillette for stock initially valued at $54 billion in 2005, making it a dominant player in the global razor business. The unit has struggled in recent years as upstarts, such as Dollar Shave Club and Harry’s, have entered the market with lower prices. As of June 2023, P&G estimated its grooming business…

Updated Dec. 5, 2023 5:25 pm ETU.S. antitrust enforcers are investigating Exxon Mobil’s plan to acquire Pioneer Natural Resources, which would be the largest oil-and-gas deal in two decades, according to securities filings. The Federal Trade Commission has sought additional information from the companies about the deal, a step it takes when reviewing whether a merger could be anticompetitive under U.S. law, Pioneer disclosed in a filing Tuesday. Merger investigations on average take about 10 months to complete, according…

Updated Nov. 29, 2023 8:59 am ETGeneral Motorsplans to sharply increase cash return to shareholders, as Chief Executive Mary Barra seeks to reassure investors about the health of GM’s core car-making business after setbacks in fledgling pursuits such as electric and driverless vehicles.The company also said Wednesday it will work to offset higher labor expenses from its new contract with the United Auto Workers and unionized employees in Canada. The contracts will add $1.5 billion next year, rising to $2.5 billion in…

Listen to article(1 minute)When the Phoenix Suns played the Detroit Pistons early this month, Mat Ishbia’s fingerprints were everywhere.He bought the Suns in February, tapping into the fortune he made in the mortgage business. And his lending company, UWM Holdings, sponsors the Pistons, with its logo appearing on their jerseys.Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 Listen to article(1 minute)When the Phoenix Suns played the Detroit Pistons early this month, …

Nov. 14, 2023 11:00 am ETKhosla Ventures is in the final stages of raising $3 billion for its latest set of venture funds, showing how some Silicon Valley investors remain bullish even as startups continue to stare down slower growth and lower valuations. The fundraise will be one of the largest completed by a venture firm this year and one of the few to grow in size. Khosla Ventures last raised $1.85 billion three years ago. Copyright ©2023Dow Jones & Company, Inc. All Rights Reserved.…