updated - December 11, 2019 Wednesday EST
ConAgra Foods, Inc. has announced in a press release that it will be splitting the company into two independent public companies. The split will allow the two businesses to be more focused and operate on their respective markets and capitalize on their long-term growth opportunities.
ON Semiconductor Corp. has announced in a press release that it will be acquiring Fairchild Semiconductor for $2.4 billion in cash. The acquisition will allow ON Semiconductor to be a global leader in the power semiconductor market.
Citrix Systems, Inc., a cloud computing software maker, has announced in a press release that it plans to spin off its GoTo family of products into a separate, publicly traded company. The move will allow Citrix and its GoTo business to enhance their strategic focus and respective competitive positions.
Air Liquide SA, a world leader in gases, technologies and services for Industry and Health, has announced in a press release that it will be acquiring Airgas Inc. for about $13.4 billion. The acquisition will strengthen Air Liquide’s global leadership position, combining Airgas’ number one position in the U.S. with the company’s number one positions in Europe, Africa / Middle East, and Asia-Pacific.
American Airlines Group has announced in a press release that it will be changing its AAdvantage loyalty program in the second half of 2016. The airlines loyalty program will shift how customers can earn award miles from distance flown to dollars spent.
Canadian Pacific Railway Ltd. has sent an offer letter to Norfolk Southern Corp. that proposes a business combination of the two companies, according to a press release issued by Canadian Pacific. The merger of the two companies would reshape the North American rail industry.
Media General, Inc. has announced in a press release that their board has unanimously rejected Nexstar Broadcasting Group, Inc.’s unsolicited proposal, as currently constructed, for Nexstar to acquire all the outstanding common stock of Media General. The company, though, agrees to engage in negotiations with Nexstar regarding the proposed merger.
Constellation Brands Inc. has announced in a press release that it will be acquiring Ballast Point Brewing & Spirits, one of the fastest growing craft beer companies in the U.S., for approximately $1 billion. The acquisition allows Constellation to compete in the fast-growing craft beer segment and further strengthen its position in the highest end of the U.S. beer market.
Liberty Global plc has announced in a press release that it will be acquiring Cable & Wireless Communications Plc for approximately £3.5 billion, or $5.3 billion. The acquisition would create the leading consumer and B2B communication provider in Latin America and the Caribbean.
Marriott International, Inc. has announced in a press release that it will be acquiring Starwood Hotels & Resorts Worldwide, Inc. for $12.2 billion. The acquisition makes Marriott the largest hotel company in the world.
Julius Baer Group Ltd. has announced in a press release that it has agreed to increase its stake at Kairos Investment Management SpA, the leading independent Italian wealth and asset management firm. The acquisition would reinforce Julius Baer’s and Kairos’ long-term position in Italy.
General Electric Co. (GE) is nearing the sale of its Japanese commercial lending business with only two bidders remaining, a person familiar with the matter told The Wall Street Journal. The bids have valued GE’s commercial lending and leasing operation at nearly $5 billion.
Mitsubishi Aircraft Corporation and Mitsubishi Heavy Industries, Ltd. (MHI) have announced in a press release that they have completed the first flight of their first next-generation regional jet. The Mitsubishi Regional Jet is set to undergo its flight testing in the U.S. on the second quarter of 2016 at the jet’s base in Grant County International Airport at Moses Lake in Washington State.
Dennis Williams, the president of the United Auto Workers Union (UAW) have announced in a press release that they will be extending the deadline for the ratification of the deal the union made with General Motors Company (GM). Williams said that he has determined that further discussions with automaker were needed. USA Today adds that the delay in ratification, which is extended until November 20, 2015, has created tension at some plants between production workers and skilled trades workers.
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