Tag #Takeover Bid

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cnn.com

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Mar 7, 07:10

Seven & I Appoints Foreign CEO, Announces Restructuring Amidst Takeover Bid

Seven & I Holdings, facing a $47 billion takeover bid from ACT, appointed its first foreign CEO, Stephen Dacus, on Thursday, announcing a significant restructuring involving asset sales, share buybacks, and a potential US listing to fend off the offer and address investor concerns.

Seven & I Appoints Foreign CEO, Announces Restructuring Amidst Takeover Bid

Seven & I Holdings, facing a $47 billion takeover bid from ACT, appointed its first foreign CEO, Stephen Dacus, on Thursday, announcing a significant restructuring involving asset sales, share buybacks, and a potential US listing to fend off the offer and address investor concerns.

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How will Seven & I's divestitures and share buyback plan impact its financial stability and long-term growth strategy?

Seven & I's restructuring involves significant asset sales and share buybacks totaling over $18.5 billion, funded by a combination of internal resources and potentially borrowings. These actions are intended to fend off the ACT takeover bid and enhance shareholder value by addressing prior criticisms of capital allocation. The strategic shift also includes the potential listing of its North American convenience store subsidiary by 2026.

faz.net

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Feb 13, 10:10

Commerzbank to Cut 3900 Jobs to Counter Unicredit Takeover Bid

Commerzbank, facing a potential takeover by Unicredit, plans to cut 3900 jobs by 2027, primarily in Germany, to increase profitability to \$4.2 billion by 2028 and deter a hostile takeover while maintaining a largely constant global workforce of 36,700.

Commerzbank to Cut 3900 Jobs to Counter Unicredit Takeover Bid

Commerzbank, facing a potential takeover by Unicredit, plans to cut 3900 jobs by 2027, primarily in Germany, to increase profitability to \$4.2 billion by 2028 and deter a hostile takeover while maintaining a largely constant global workforce of 36,700.

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How will Commerzbank's planned job cuts impact its workforce and operations in Germany?

The job cuts are part of Commerzbank's strategy to enhance profitability and deter Unicredit's acquisition attempt. Unicredit currently holds over 28% of Commerzbank's shares, nearing the 30% threshold that would trigger a mandatory takeover offer. Commerzbank aims to increase its profit to \$4.2 billion by 2028, up from \$2.7 billion in 2022, and is planning high dividend payouts to shareholders.

smh.com.au

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Feb 11, 01:09

Musk Bids $97.4 Billion for OpenAI Amidst Altman Feud

Elon Musk's xAI offered $97.4 billion to buy OpenAI, the non-profit behind ChatGPT, sparking a public feud with CEO Sam Altman over OpenAI's shift to for-profit status, raising questions about the future of AI development and control.

Musk Bids $97.4 Billion for OpenAI Amidst Altman Feud

Elon Musk's xAI offered $97.4 billion to buy OpenAI, the non-profit behind ChatGPT, sparking a public feud with CEO Sam Altman over OpenAI's shift to for-profit status, raising questions about the future of AI development and control.

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What is the core conflict driving Elon Musk's $97.4 billion bid to acquire OpenAI, and what are the immediate consequences of this offer's rejection?

Elon Musk, through his AI company xAI, offered $97.4 billion to acquire OpenAI, the non-profit creator of ChatGPT. This bid, significantly below OpenAI's $260 billion valuation, is part of a larger dispute between Musk and OpenAI CEO Sam Altman over the company's direction and profitability.

cincodias.elpais.com

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Feb 7, 10:07

Sabadell counters BBVA takeover bid with record profits and "3.3 billion" shareholder payout plan

Banco Sabadell announced record 2024 profits of "1.827 billion", a 37% increase, and plans to distribute "3.3 billion" to shareholders by 2025 to counter BBVA's takeover bid; the final decision is expected in June.

Sabadell counters BBVA takeover bid with record profits and "3.3 billion" shareholder payout plan

Banco Sabadell announced record 2024 profits of "1.827 billion", a 37% increase, and plans to distribute "3.3 billion" to shareholders by 2025 to counter BBVA's takeover bid; the final decision is expected in June.

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How do Sabadell's announced financial results and dividend payout plans relate to the ongoing BBVA takeover attempt?

Sabadell's actions aim to increase shareholder value and make a BBVA takeover less attractive. The increased dividend payout and record profit are key components of this strategy, reflecting strong financial performance driven by factors such as a favorable court ruling and improved risk costs. The timing is significant, coinciding with the CNMC and government review of the BBVA bid.

euronews.com

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Jan 28, 19:13

Mediobanca Rejects €7 Billion Takeover Bid from MPS

Mediobanca rejected Banca Monte dei Paschi di Siena's €7 billion takeover bid on Tuesday, citing concerns about shareholder value destruction and incompatibility of business models; MPS shares dropped nearly 10% following the announcement.

Mediobanca Rejects €7 Billion Takeover Bid from MPS

Mediobanca rejected Banca Monte dei Paschi di Siena's €7 billion takeover bid on Tuesday, citing concerns about shareholder value destruction and incompatibility of business models; MPS shares dropped nearly 10% following the announcement.

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How do the differing business models of Mediobanca and MPS explain Mediobanca's decision to reject the takeover bid?

Mediobanca's rejection stems from fundamental strategic differences. Mediobanca focuses on high-margin investment banking and wealth management, while MPS relies on retail banking. The merger, Mediobanca argues, would erode shareholder value and compromise its independent advisory model.

sueddeutsche.de

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Jan 23, 13:09

Commerzbank and Unicredit Clash Over Unsolicited Takeover Bid

Unicredit's acquisition of approximately 28 percent of Commerzbank shares, including 9.5 percent direct ownership and 18.5 percent through financial instruments, has sparked a dispute with Commerzbank denying prior merger talks while Unicredit claims numerous meetings took place, and seeks the new G...

Commerzbank and Unicredit Clash Over Unsolicited Takeover Bid

Unicredit's acquisition of approximately 28 percent of Commerzbank shares, including 9.5 percent direct ownership and 18.5 percent through financial instruments, has sparked a dispute with Commerzbank denying prior merger talks while Unicredit claims numerous meetings took place, and seeks the new G...

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How does the conflict between Commerzbank and Unicredit reflect broader challenges in cross-border banking mergers and acquisitions in Europe?

The disagreement highlights a clash of narratives between Commerzbank and Unicredit regarding potential merger talks. Unicredit's significant share acquisition, around 28 percent, and Orcel's assertion of multiple prior meetings contrast sharply with Commerzbank's denial of any such discussions. The conflict further intensifies with Orcel questioning Commerzbank's fiduciary duty to its stakeholders.

welt.de

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Feb 13, 10:10

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

Commerzbank to Cut 3,900 Jobs to Boost Profit, Resist Takeover

Commerzbank announced plans to cut 3,900 jobs by 2027, primarily in Germany, to boost efficiency and counter a potential takeover bid from UniCredit, while aiming for significantly higher profits and shareholder payouts in coming years.

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What is Commerzbank's immediate response to UniCredit's potential takeover bid, and what are the specific consequences?

Commerzbank, Germany's second-largest private bank, plans to cut 3,900 full-time jobs by the end of 2027 to increase efficiency and counter a potential takeover bid from UniCredit. This will primarily affect its headquarters and other locations in Frankfurt, impacting support functions and back-office roles. The bank aims to maintain its overall workforce of 36,700 through growth in international locations and its Polish subsidiary.

nos.nl

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Feb 12, 01:11

Musk Bids $97.4 Billion for OpenAI; Altman Rejects

Elon Musk's investor group bid $97.4 billion to acquire the non-profit OpenAI, a move rejected by CEO Sam Altman, who countered with a $9.74 billion offer for Twitter; the dispute stems from differing visions for OpenAI's future.

Musk Bids $97.4 Billion for OpenAI; Altman Rejects

Elon Musk's investor group bid $97.4 billion to acquire the non-profit OpenAI, a move rejected by CEO Sam Altman, who countered with a $9.74 billion offer for Twitter; the dispute stems from differing visions for OpenAI's future.

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How does Musk's bid relate to the ongoing legal dispute between him and Sam Altman regarding OpenAI's direction?

Musk's bid is interpreted by some as an attempt to block Altman's plans to transform OpenAI into a for-profit entity. This transformation requires significant funding, which clashes with Musk's vision for OpenAI to remain a non-profit research lab. The bid sets a price benchmark for OpenAI's independence.

dailymail.co.uk

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Feb 11, 01:09

Musk Bids Nearly $100 Billion for OpenAI

Elon Musk and a group of investors submitted a nearly $100 billion bid to acquire OpenAI, the AI research company, challenging CEO Sam Altman's plan to create a for-profit branch and reigniting their legal battle over the company's future.

Musk Bids Nearly $100 Billion for OpenAI

Elon Musk and a group of investors submitted a nearly $100 billion bid to acquire OpenAI, the AI research company, challenging CEO Sam Altman's plan to create a for-profit branch and reigniting their legal battle over the company's future.

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What are the immediate implications of Elon Musk's \$100 billion bid for OpenAI on the future of the company and the broader AI landscape?

Elon Musk, along with a group of investors, submitted a nearly \$100 billion bid to acquire OpenAI, the artificial intelligence research company currently led by his rival, Sam Altman. This unsolicited bid challenges Altman's plans to transition OpenAI into a for-profit entity and has sparked controversy within the AI community.

faz.net

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Jan 31, 19:08

Commerzbank's Record Profit Defends Against Unicredit Takeover

Commerzbank reported record 2024 net profit of €2.7 billion, exceeding expectations, leading to a €0.65 dividend per share, a €400 million share buyback plan, and a boosted share price amidst a hostile takeover bid by Unicredit.

Commerzbank's Record Profit Defends Against Unicredit Takeover

Commerzbank reported record 2024 net profit of €2.7 billion, exceeding expectations, leading to a €0.65 dividend per share, a €400 million share buyback plan, and a boosted share price amidst a hostile takeover bid by Unicredit.

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What is the significance of Commerzbank's record profit and dividend announcement in the context of Unicredit's hostile takeover bid?

Commerzbank announced a record €2.7 billion net profit for 2024, exceeding analyst expectations and resulting in a surprisingly high dividend of €0.65 per share. This announcement, coupled with a planned share buyback of up to €400 million, significantly boosted the bank's share price.

apnews.com

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Jan 28, 04:09

Ancora Challenges Nippon Steel's U.S. Steel Takeover

Ancora Holdings, a \$10 billion asset manager, is challenging Nippon Steel's proposed \$15 billion takeover of U.S. Steel, nominating new directors and a CEO to pursue a turnaround plan instead of the sale, amid political opposition and legal challenges.

Ancora Challenges Nippon Steel's U.S. Steel Takeover

Ancora Holdings, a \$10 billion asset manager, is challenging Nippon Steel's proposed \$15 billion takeover of U.S. Steel, nominating new directors and a CEO to pursue a turnaround plan instead of the sale, amid political opposition and legal challenges.

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What are the immediate consequences of Ancora's challenge to the Nippon Steel-U.S. Steel merger?

Ancora Holdings, managing \$10 billion in assets, acquired a 0.18% stake in U.S. Steel and is challenging the proposed sale to Nippon Steel. They've nominated nine independent directors and Alan Kestenbaum as CEO to focus on U.S. Steel's turnaround, not the sale, and to pursue a \$565 million breakup fee.

cincodias.elpais.com

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Jan 10, 10:08

BBVA Lowers Sabadell Takeover Bid Threshold

BBVA lowered its acceptance threshold for its Banco Sabadell takeover bid from 50.01% to 49.27% of the capital, excluding treasury stock, after initially stating to the SEC that the bid wouldn't succeed without 50.01%, necessitating a filing amendment; this is permitted under Spanish law.

BBVA Lowers Sabadell Takeover Bid Threshold

BBVA lowered its acceptance threshold for its Banco Sabadell takeover bid from 50.01% to 49.27% of the capital, excluding treasury stock, after initially stating to the SEC that the bid wouldn't succeed without 50.01%, necessitating a filing amendment; this is permitted under Spanish law.

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What is the significance of BBVA lowering its acceptance threshold in its takeover bid for Banco Sabadell?

The BBVA has lowered its acceptance threshold for its takeover bid of Banco Sabadell, from 50.01% to 49.27% of the capital, excluding treasury stock. This decision follows the Spanish legislation which allows such adjustments. The BBVA will need to amend its US Securities and Exchange Commission (SEC) filing, which previously stated that the offer would not be completed without reaching the higher threshold.

Showing 25 to 36 of 38 results