Few Steps Remain in American Airlines, US Airways Merger
Following bankruptcy court approval, the merger of American Airlines and US Airways faces just a few more hurdles, including approval from the U.S. Justice Department.
merger
Office Depot Agrees to Buy OfficeMax in Stock Deal
Office Depot said Wednesday it will buy OfficeMax in an all-stock deal that would transform office-supply retail sector. The companies said holders of OfficeMax shares will receive 2.69 shares of Office Depot for every OfficeMax share they own. That's equal to about $13.50 per share.
Talk of More Corporate Deals Sends Stocks Higher, Dow Above 14,000
Reports that retailers Office Depot and OfficeMax are discussing a merger came after big corporate deals for Heinz and Dell were announced in recent weeks. Some investors are betting that more deals could be on the way as buyers pay premium prices for publicly traded companies.
Market Minute: US Airways and American Airlines Look Set for Merger
US Airways and AMR are in the final stages of negotiating a merger, with final price and management structure still to be resolved. A combined American-US Airways would have revenue of $38.69 billion based on 2012 figures, in front of current world No. 1 United Continental Holdings.
Ousted Duke CEO Earns Up to $44.4 Million for a Few Hours Work
When Progress Energy agreed to be bought by Duke Energy, it was agreed that its CEO, Bill Johnson, would run the combined company. Instead, Johnson was pushed out by the board -- mere hours after he took over. But don't feel bad for him -- his golden parachute is enormous.
Duke Energy CEO Gets $44 Million in Severance for 3 Days of Work
When Duke Energy bought Progress Energy, its board tapped Progress's chief, Bill Johnson to serve as CEO. Less than a week into his service, they dumped him, but Johnson still stands to receive up to $44.4 million in severance pay.
AT&T Agrees to Drop Bid for T-Mobile
AT&T said Monday that it is ending its $39 billion bid to buy T-Mobile USA after facing fierce government objections. The cellphone giant said that the actions of the government to block the deal do not change the challenges of the wireless phone industry, which it says requires more airwaves, known as spectrum, to expand. The deal would have solved that problem for a time, and without it, "customers will be harmed and needed investment will be stifled," AT&T said in a statement.
Southwest Remains No. 1 for Airline Customer Service
The American Customer Satisfaction Index's annual report on airlines showed Southwest still on top of the rankings, and far ahead of No. 2 Continental. Southwest even improved its score, a rare bright spot in an industry that came in last overall in customer satisfaction among those the ACSI rates.
Nasdaq, ICE Drop $11 Billion Bid for NYSE Euronext
Nasdaq and IntercontinentalExchange are withdrawing their $11 billion bid for the New York Stock Exchange after recognizing that it wouldn't receive regulatory approval. The decision leaves the path open for NYSE Euronext to merge with the German exchange operator Deutsche Boerse.
How to Take Advantage of the M&A Boom
Mergers and acquisitions are becoming ever more popular, with activity up 24% in the first two months of this year -- after already growing 23% in 2010. Here's how your portfolio can benefit from this trend.
A Starbucks, Peet's Coffee Tie-Up Could Be a Win-Win
The longtime coffee rivals may be discussing a merger that could provide the smaller player with a boost in the single-cup market. And Peet's, which has longstanding deals with grocery chains, could steer Starbucks towards a smoother grocery distribution strategy.
Sprint and T-Mobile Are Talking Merger Again
SprintNextel and T-Mobile USA are reportedly discussing another tie-up, as both companies seek to stop the flow of customers defecting to larger cell-phone service providers. In the past, the carriers have mulled a merger but haven't been able to agree on who would acquire whom.
Huawei Wins U.S. Injunction Against Motorola
Motorola's sale of its network-equipment division to Nokia Siemens Networks seems to have hit another hiccup. Chinese telecom-equipment maker Huawei has won a preliminary U.S. court injunction against Motorola, a Huawei vendor, arguing that the deal would transfer confidential information to a competitor.
AOL Buys HuffPo: What Media Pundits Are Saying
Nothing like a big media deal to spark commentary from the media. And indeed, there's been no shortage of reaction -- from praise to pillory -- to AOL's decision to purchase upstart news site The Huffington Post for $315 million, mostly in cash.