Boeing has announced a definitive agreement to acquire Spirit AeroSystems for $37.25 per share in Boeing common stock, valuing the deal at approximately $4.7 billion. The acquisition aims to integrate the manufacturing and engineering capabilities of both companies. Concurrently, Spirit has entered into a term sheet with Airbus for the potential sale of certain assets serving Airbus programs.
Adani Group is further consolidating its cement operations with Ambuja Cements set to merge Adani Cementation, adding strategic locations and limestone resources. This move aims to enhance operational efficiency and bolster Ambuja’s coastal footprint, ultimately strengthening its position in the Indian cement market.
Paramount Global CEO Bob Bakish has stepped down, the company announced Monday, as merger negotiations with Skydance Media continue. Bakish’s departure comes after reports of his private dissent against the merger, which would dilute common shareholders. The company will now be led by an “Office of the CEO,” consisting of CBS president and CEO George Cheeks, Showtime/MTV Entertainment Studios and Paramount Media Networks president and CEO Chris McCarthy, and Paramount Pictures and Nickelodeon head Brian Robbins.
The Madras High Court has directed the Reserve Bank of India (RBI) to reassess the shares and assets of Lakshmi Vilas Bank (LVB) and DBS Bank India Limited (DBIL) before the amalgamation and make a fresh decision on reducing share value and writing off Tier II bonds. The court emphasized the need for transparency in the merger process, highlighting that the RBI should not have rushed through it without disclosing reasons for rejecting objections.
Anglo American has received an unsolicited all-share merger proposal from BHP, the mining giant seeks to expand its copper footprint and benefit from Anglo’s significant South American copper operations. The transaction, if successful, would mark a return to large-scale dealmaking for BHP under CEO Mike Henry and highlight the growing importance of copper in the mining sector. Anglo’s complicated structure and exposure to South Africa have historically deterred suitors, but BHP’s proposal addresses these concerns by first splitting off Anglo’s South African platinum and iron ore units. Analysts speculate that the bid, valued at $42.6 billion, may attract other bidders and spark consolidation within the mining industry.
Tapestry’s proposed $57 per share acquisition of Capri Holdings has encountered opposition from the Federal Trade Commission (FTC), raising concerns about potential antitrust violations. The FTC argues that the merger would result in Tapestry’s dominance in the “accessible luxury” handbag market and negatively impact employees. However, Tapestry disputes these claims, maintaining that the market is competitive and the deal would not harm consumers or workers. The case is expected to proceed to court, with a judge assigned to oversee the proceedings. The outcome of the trial is uncertain, but analysts believe there is a 60% chance that the deal will be approved. Capri’s stock price currently reflects a 29% likelihood of a legal victory, offering potential investment opportunities with an estimated return of 22% if the merger is successful.
In a move that could become one of the largest deals of the year, mining giant BHP is reportedly considering a potential takeover of London-listed Anglo American. The news comes as Anglo American shares have fallen 12% in the past year, with the company currently valued at £27 billion ($52 billion). BHP, which trades in London and Sydney, has a market value of approximately $230 billion.
Kroger and Albertsons have agreed to sell an additional 166 stores to C&S Wholesale Grocers in an effort to address the Federal Trade Commission’s (FTC) concerns about the merger. The total number of stores sold to C&S will now be 579, ensuring that no storefronts will close, no employees will lose their jobs, and no employee benefits will change upon the merger’s completion. The FTC is currently reviewing the revised divestiture deal and has not yet commented on whether or not it will affect its decision to allow the merger to proceed.
The Federal Trade Commission (FTC) has filed a lawsuit to block the proposed $8.5 billion merger between Tapestry, Inc. and Capri Holdings Limited, citing antitrust concerns. Tapestry owns brands such as Coach and Kate Spade, while Capri owns brands like Michael Kors and Versace. The FTC alleges that the deal would eliminate direct competition between the two companies in the ‘accessible luxury’ handbag market, giving Tapestry an unfair advantage. The regulators also expressed concerns about potential negative consequences for workers in the combined company, including lower wages and reduced workplace benefits.
Kroger and Albertsons have agreed to sell 579 stores to meet regulatory concerns, allowing for their merger to proceed. The stores will be acquired by C&S Wholesale Grocers, who will operate some under Albertsons and Safeway banners.
