Biz/Tech
Barrick Gold to Sell 4 Non-Core Assets to Kinross and Waterton for $720 Million, Part of Debt Reduction Effort
Blackstone to Acquire $3 Billion in Real Estate Interest from CalPERS, Part of Agency's Plan to Reduce Cost, External Investment Managers
Blackstone Group LP announced in a press release that they will be acquiring approximately $3 billion of global real estate fund interests from the California Public Employees’ Retirement System (CalPERS). The acquisition is in line with CalPERS strategic plan to reduce cost and external investment managers.
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United Bankshare to Acquire Bank of Georgetown, Enhance Existing Footprint in DC Metro Region
United Bankshares, Inc. announced in a press release that it will be acquiring Bank of Georgetown, a privately held community bank, for approximately $269 million. The acquisition will strengthen United Bankshares’ franchise and enhance its existing footprint in the D.C. Metro region.
Yahoo Hires McKinsey & Co., Will Help Company Decide which Units to Shutter, Sell or Invest More
Yahoo Inc. has hired McKinsey & Co., a global management consultant firm, to help the company, people close to the situation told Re/code. The consultant firm will help Yahoo decide on which unit will it shutter, sell or invest more in.
Canadian Pacific to Explore Takeover of Norfolk Southern, Attempting to Consolidate the North American Railroad Industry
Canadian Pacific Railway Ltd. is exploring a takeover of U.S. carrier Norfolk Southern Corp., people familiar with the matter told Bloomberg. The move is an attempt to consolidate the North American railroad industry.
Singapore Airlines to Buy Remaining Shares of Tiger Airways, Plans to Delist, Privatize Airline
Singapore Airlines (SIA) has announced in a press release that it is launching a voluntary conditional general offer for all the shares of Tiger Airways that it does not already own. SIA, who currently owns 55.8 percent of Tiger Airways, plans to delist and privatize the budget airline through the offer.
Weyerhaeuser to Buy Plum Creek, Create World's Premier Timber, Land and Forest Products Company
Weyerhaeuser Company, one of the world's largest private owners of timberlands, has announced in a press release that it would be acquiring Plum Creek Timber Co. The combination of the two companies would create the world’s premier timber, land and forest products company.
Alibaba Acquires Youku Tudou, Looking to Stream More Content to Chinese Internet Users
Alibaba Group Holding Limited announced in a press release that it will be acquiring Youku Tudou, Inc. in an all-cash transaction. Jack Ma, the founder and executive chairman of Alibaba Group, is looking to stream more content to Chinese Internet through Youku.
Verizon Exploring the Sale its Enterprise Business, Looks to Focus on Core Business
Verizon Communications Inc. is looking to sell its enterprise business, which could be worth as much as $10 billion, people familiar with the matter told Reuters. The largest wireless carrier in the U.S. is looking to focus more on its core business.
Lockheed Martin Completes Acquisition of Sikorsky, Advances its Commitment to Provide Affordable and Efficient Mission-Ready Solutions
Lockheed Martin announced in a press release that they have completed the acquisition of Sikorsky Aircraft, a world leader in military and commercial rotary-wing aircraft. The acquisition advances Lockheed’s commitment to providing customers with affordable and efficient mission-ready solutions.
Virgin America Launches Flight to Hawaii, Celebrates its Launch with Partnership with Airbnb
Virgin America has announced in a press release that it has launched its first flight from San Francisco to Hawaii on Monday, November 2, 2015. The airline will be flying to Hawaii using its newest Airbus A320 aircraft that is equipped with fuel-saving “sharklet” wingtip devices. In connection with its first flight to Hawaii, Virgin America also announced a partnership with Airbnb, the first partnership program of its kind.
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