Biz/Tech
Constellation Brands Acquires Ballast Point, Allows it to Compete in Craft Beer Segment
Canadian Pacific Proposes Merger with Norfolk Southern, Will Reshape North American Rail Industry
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.
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CEO Marcelo Claure Discusses 'One Sprint' Business Strategy
Marcelo Claure, the CEO of Sprint Corp., has just revealed his “One Sprint” business strategy in a weekly newsletter to employees, according to a report from the Kansas City Business Journal.
GE Close to Selling its Japanese Commercial Lending Business with 2 Bidders Remaining, Bids Value Business at $5 Billion
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 Completes First Flight of its Next-Generation Regional Jet, Jet to be Tested at the U.S. on 2nd Quarter of 2016
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.
UAW Extends Deadline of Ratifying UAW-GM Deal, Creates Tension Among Production, Skilled Workers
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.
Springleaf to Sell 127 Branches as Part of Settlement with U.S. DOJ, Clears Way for OneMain Acquistion
Springleaf Holdings, Inc. has announced in a press release that it will be selling 127 branches in 11 states as part of the settlement terms it has reached with the U.S. Department of Justice and the Attorney Generals of seven states. The settlement agreement has cleared the way for the closure of Springleaf’s acquisition of OneMain Financial Holdings, LLC.
GM to Import Chinese Made Buick SUV to the U.S., Adds a Third SUV to Buick's U.S. Lineup
General Motors Co., (GM) is planning to start selling the Buick Envision, a mid-sized sports utility vehicle (SUV), made in Shandong province, people familiar with the plan told The Wall Street Journal. The plan would add a third SUV to Buick’s U.S. lineup at a time when crossovers are among the best selling vehicles in the market.
Hulu in Talks to Sell a Stake to Time Warner, Advance its Efforts to Compete with Netflix and Amazon
Hulu is looking to sell a stake to Time Warner Inc., part of a deal that would value the company at more than $5 billion, people familiar with the matter told The Wall Street Journal. The move would allow Hulu to advance its efforts to compete against Netflix, Inc. and Amazon.com, Inc.
Fossil to Acquire Misfit for $260 Million, Expand its Addressable Market
Fossil Group, Inc. has announced in a press release that it will be acquiring Misfit, Inc., an innovator in wearable technology and stylish connected devices, for $260 million. The acquisition allows Fossil to expand its addressable market and offer consumers both traditional timepieces and fashionable connected accessories.
Canadian Pension Funds to Acquire Chicago Skyway Toll Road, Fits Well with The Pension Funds' Strategies
A consortium that consists of the Canadian Pension Plan Investment Board (CPPIB), OMERS, and Ontario Teachers’ Pension Plan have announced in a joint statement that they will be acquiring Skyway Concession Company LLC for a total of $2.8 billion, according to a press release issued by OMERS. The acquisition of Skyway is in line with the strategy of the three pension funds.
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