Takeover

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.…

The Paramount logo is seen on a building in Los Angeles on Nov. 13, 2023.Nurphoto| Getty ImagesParamount Global shares surged Friday following reports from Deadline and Puck News that Skydance and Redbird Capital were exploring potentially taking over the media giant.Paramount shares were up more than 14%. The company has a market cap of about $10.5 billion and is up more than 1% for the year, lagging the S&P 500's 19% gains.Paramount's controlling shareholder, Shari Redstone, has been open to making big deals,…

Chipmaker Broadcom will lay off about 1,300 VMware employees in California following its acquisition of the cloud-computing firm, reported Bloomberg News on Thursday.Broadcom did not immediately respond to a Reuters request for comment. Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology Leadership and InnovationVisitThe chipmaker will…

Last year, Amazon and iRobot announced a $1.7 billion acquisition, that would see Amazon swallowing up the popular robot vacuum company. As usual with these deals, they are going through regulatory reviews across the world, particularly in the UK, European Union and the US. British regulators looked at the deal and cleared it in June, while the Federal Trade Commission in the US requested information about deal from the companies in September 2022. The European Union however, has just sent over a statement of objections…

A customer enters Comerica Inc. Bank headquarters in Dallas, Texas.Cooper Neill | Bloomberg | Getty ImagesA trio of regional banks face increasing pressure on returns and profitability that makes them potential targets for acquisition by a larger rival, according to KBW analysts.Banks with between $80 billion and $120 billion in assets are in a tough spot, says Christopher McGratty of KBW. That's because this group has the lowest structural returns among banks with at least $10 billion in assets, putting them in the…

Elon Musk withdrew a loan of $1 billion (roughly Rs. 83,062 crore) from SpaceX - the two-decade-old rocket company run by the billionaire - around the same time he was acquiring Twitter, now known as X, for $44 billion (roughly Rs. 3,65,442 crore), the Wall Street Journal reported on Tuesday. SpaceX approved the $1 billion (roughly Rs. 8,30,625 crore) loan, which was backed by some of Musk's SpaceX stock, in October and Musk drew all of it down the same month, according to the report, citing documents. Musk took ownership…

The Tata Group has reportedly completed its takeover of Apple supplier Wistron India, bringing the Indian tech conglomerate one step closer to becoming the first Indian firm to assemble Apple's iPhone models in the country. Takeover discussions began a year ago, and Tata already supplies components for the Cupertino company's smartphones in Tamil Nadu. However, the acquisition of Wistron's production lines in India will allow the company to assemble iPhone models like Foxconn and Pegatron, two of Apple's suppliers that…

Last Updated: July 26, 2023, 13:36 ISTAir India To Retire Its Iconic Maharajah Mascot As Part Of Rebranding. (PTI file)Air India bids farewell to its iconic Maharajah mascot in a spectacular revamp post Tata Group takeover. Fresh livery, modernization, and rebranding await.Air India is all set to retire its beloved Maharajah mascot, an iconic figure that has been part of the airline’s brand since 1946. The decision comes as the airline gears up for a sensational revamp following its takeover by the esteemed Tata Group in…

Microsoft is in talks about an extension of its acquisition contract with video game maker Activision Blizzard, which is set to expire on Tuesday, so the parties can overcome the remaining regulatory hurdles to their $69 billion (nearly Rs. 5,66,100 crore) deal, a person familiar with the matter said on Monday.The expiration of the contract would not automatically lead to the collapse of the deal, as it simply affords either company the right to walk away from the transaction.Nonetheless, Microsoft, which makes the Xbox…

A U.S. appeals court on Friday rejected a bid by federal regulators to block Microsoft from closing its $68.7 billion deal to buy video game maker Activision Blizzard, paving the way for the completion of the biggest acquisition in tech history after a legal battle over whether it will undermine competition.In a brief ruling, a three-judge panel on the 9th U.S. Circuit Court of Appeals concluded there were no grounds for issuing an order that would have prevented Microsoft from completing its nearly 18-month-old deal to…