Category: fox-business/markets/mergers-and-acquisitions

Capital One to acquire Discover Financial

Capital One, a Warren Buffett-backed consumer bank and credit card issuer, announced Monday that it will acquire the credit card lender Discover Financial Services. Capital One announced that the deal will create a “global payments platform at scale, with 70 million merchant acceptance points in more than 200 countries and territories.” The all-stock transaction will be at a premium of 26.6% based on Discover’s closing…

Spirit Airlines uncertainty has some pilots dusting off their resumes

Some pilots at Spirit Airlines are worried and scouring for other opportunities after a U.S. judge last month blocked the low-cost air carrier’s proposed merger with competitor JetBlue Airways, throwing its future into doubt. Spirit pilots, recruiters and industry sources told Reuters that the ruling has led to increased job applications at other places of employment. Spirit Chief Financial Officer Scott Haralson last week said…

Diamondback in $26B deal to buy Endeavor Energy in growing Permian push

Shale producer Diamondback Energy said on Monday it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 billion, including debt. The combined company would be the third-largest oil and gas producer in the region behind Exxon and Chevron, with both having announced recent deals. The deal comes amid a…

US steel workers outraged over billion-dollar deal ‘selling out’ employees to a foreign entity

Steel has become an integral part of the American economy. But as a large portion of the sector is being “sold off to the highest bidder,” members of the United Steelworkers (USW) union are sounding off over the transaction. “It was the workers that drove the force for the profits to be made, and at the end of the day, they sold off to the…

Byron Allen offers to buy Paramount Global for $14 billion

Medial mogul Byron Allen is making another bid to buy Paramount Global after an effort to acquire the conglomerate last year failed to gain traction. Allen Media Group offered $14.3 billion to purchase Paramount Global, the Wall Street Journal reported citing people familiar with the matter. According to a copy of the offer letter reviewed by the outlet, the group’s offer is $28.58 for each…

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