updated - October 18, 2019 Friday EDT
Apple Inc. is planning to launch its new Apple Pay electronic-payment service in China by next year, people familiar with the discussions told The Wall Street Journal. Apple is hoping to launch the electronic-payment service before February 8, 2016, before China’s Spring Festival Holiday.
CVC Capital Partners Ltd., a private equity firm, and the Canada Pension Plan Investment Board are nearing a deal to acquire Petco Holdings, Inc., people familiar with the matter told Reuters. The deal will value Petco at $4.7 billion, including debt.
Cisco Systems Inc. has announced in a press release its intent to acquire Acano Ltd., a privately held company based in London that provides collaboration infrastructure and conferencing software, for $700 million. The transaction will allow Cisco to accelerate its collaboration business.
Katarina Berg, the chief human resource officer at Spotify has announced in a press release that the company will be introducing a new parental leave policy that is developed to support all of the company’s staff with families. The new parental leave policy is considered as one of the most generous in the U.S.
Allegiant Air, a low-cost airline owned by Allegiant Travel Company, has announced in a press release that it will be adding nine new routes and adding two cities to its nonstop service. To celebrate the expansion, the airline is offering one-way fares on the new routes for as low as $29.
Pfizer, Inc. is already in advanced talks to acquire Allergan Plc that would value the Botox maker as high as $150 billion, people familiar with the matter told Bloomberg. The people said, though, that a final agreement could be delayed, as well as a change in the terms of the transaction due to the U.S. Treasury Department’s changes on the rules on tax inversion deals.
Starboard Value LP is urging Yahoo! Inc. to drop its plan to spin off Aabaco Holdings, Inc., which contains the company’s non-core business assets, including Yahoo’s stake in Alibaba Group, according to Starboard’s letter sent to Yahoo. The activist investor is suggesting that Yahoo should instead be looking to sell its core business.
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.
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