The supermarket giant, Woolworths has finally announced its decision to wrap up its home improvement project, Masters. After incurring heavy losses for almost four years, chairman Gordon Cairns has decided on selling or shutting down the operations. For this, the company his approached its joint venture partner, Lowe's, to buy out its 33.3% stake in Masters., but it may take several months to sort out the exit options.
Deals
Mobile Accessory Zagg Purchased Mophie For $100 Million, To Be The Best In Class Product
Mophie, the famous battery cases maker, is acquired by Zagg, its competitor in mobile accessories. The acquisition is believed to bring more benefits for both parties, as to be the best in class product development, as well as to obtain more financial profits.
Abbott to acquire Alere for $5.8 billion
Abbott said that it has signed a definitive deal to acquire Alere for a net value of $5.8 billion in cash. Abbott expects the acquisition to be immediately accretive to its earnings per share upon completion.
Apple Acquires Flyby Media, Possibly Aims To Develop iPhone Headsets Capable of Analyzing Human Motion
Apple has been used to acquire smaller technology enterprises occasionally and is reluctant to discussing its policy or plan. This has been referred as the Apple’s usual nod for purchasing any company by the analysts. Thus the analysts confirm Apple’s Flyby Media acquisition and predict developing of iPhone headsets capable of tracking subject’s motion.
Foxconn woos Sharp with a more-than $5 billion offer; Innovation Network Corp no more the only potential buyer in the running
Foxconn has put forth a highly tempting offer of over $5 billion in front of the almost-bankrupt Sharp Corp, which well exceeds its current valuation at $1.8 billion. The other potential buyer, Innovation Network Corp. of Japan, who was already very confident, is not so sure of a win right now. Foxconn's bid amount not only surpasses Innovation's $2.5 billion, the Taiwanese firm has also offered to absorb all of Sharp's debts and not make any top management replacements. While the board does not want their Japanese seller to fall under any kind of foreign control, the decision needs to be based purely on deal economics and not political considerations.
Latest News
Ethiopia's Agricultural Ministry has terminated its agreement with Indian company's Karuturi Global Ltd. last month on the grounds that the company has not made enough progress as agreed upon. Karuturi has claimed that the government has prevented it from making any further progress and will take legal action to fight the cancellation.
The BT Group deal concluded smoothly when the British Competition and Markets Authority gave its go-ahead. The verdict brought together two huge customer bases under the same roof, which can potentially make BT the largest provider of mobile, home telephone, internet and TV services in the United KIngdom.
Two big names, Wesfarmers and Sainsbury's, are vying for the Home Retail deal, despite warnings sent out by the seller itself regarding low profit expectations. While the deal seems to be in favor of Wesfarmers, Sainsbury's is not out of the picture yet.
Japan’s Mitsubishi UFJ Financial Group is said to have agreed to buy a 20 percent stock in Philippines' lender Security Bank Corp for $773 million (36.9 billion pesos), as an effort to strengthen its growth in Southeast Asia.
Saudi Aramco, the Saudi Arabian oil company, has emerged as the most valuable company in the world. Talks about a potential public offering have created quite a stir in the stock market, as the investors wait for more details from the oil kingdom.
Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.
The SCMP Group finally closed the deal with Alibaba at a whopping US$262 million approximately. After many rounds of rumors, the Chinese company has announced that Alibaba has agreed to venture into the news business acquiring The South China Morning Post. This Hongkong based newspaper and the other assets of the SCMP Group including the Elle and Esquire sister concern publications and websites will cost Alibaba a big sum of more than $2 million.
The new financiers are all set to invest a good amount of money into futuristic campaigns. They wish to bring in a much-needed transformation to the numerous U.S. companies that have created a solid niche in the past few years by producing high returns.
Buying Yahoo seems to be a pretty good option for Verizon, as apparently wants to be an owner of all the old school internet portals. According to Reuters, Verizon Communications Inc is the No. 1 U.S. wireless carrier company. On December 7, its finance chief, Fran Shammo revealed that they have a deep interest in purchasing Yahoo Inc's core business.
