JPMorgan closing 25% of First Republic Bank branches
JPMorgan Chase says it will shut down 21 branches of its recently acquired First Republic Bank by the end of 2023, representing a quarter of the former bank's locations.
Ripple to buy Swiss crypto custody provider Metaco for $250M
U.S. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday.
Jamie Dimon weighs in on JPMorgan Chase purchasing additional troubled banks
Jamie Dimon on Tuesday offered investors his views on the likelihood of JPMorgan Chase doing another purchase of a regional bank facing difficulties, saying it was "unlikely."
FTC sues to stop Amgen’s $27.8B deal for Horizon Therapeutics
The FTC said in its complaint that Amgen would be able to leverage its position with insurance companies and pharmacy benefit managers wanting access to its blockbuster drugs.
Microsoft's $69B purchase of Activision cleared by EU regulators
European Union regulators approved Microsoft’s $69 billion all-cash purchase of video game maker Activision Blizzard. The deal still faces pressure from regulators across the world.
Luminar Tech CEO to acquire majority stake in Forbes
Austin Russell, the Chairman & CEO of Luminar Technologies, is buying a majority stake in the business news publisher Forbes worth $800 million.
Tempur Sealy reaches deal to acquire Mattress Firm for $4 billion
Tempur Sealy has reached a multi-billion-dollar deal that will see the mattress maker acquire retailer Mattress Firm. The closing of the deal is projected to take place in the last six months of 2024.
Concern over TD anti-money-laundering practices helped scuttle First Horizon deal
TD agreed to buy First Horizon in February 2022 in a deal that would have created the sixth-largest U.S. lender. The banks said they expected to complete the transaction by January.
Flexport CEO Dave Clark announces Shopify Logistics acquisition
Flexport CEO Dave Clark announces the acquisition of Shopify Logistics and weighs in on the global supply chain.
First Horizon shares tank after TD Bank deal scrapped
Shares of First Horizon are down on Thursday after the company said a merger agreement with TD Bank was terminated due to uncertainty over regulatory approvals.
PacWest shares slide as bank tries to calm investors
PacWest Bancorp confirmed it is mulling options, including a possible sale while also insisting it has not experienced "out-of-the-ordinary deposit flows following the sale of First Republic Bank and other news."
Olive Garden parent Darden buying Ruth’s Chris for $715M
Darden Restaurants is acquiring the Ruth's Chris Steak House, adding to its portfolio of brands that include Olive Garden, LongHorn Steakhouse and Yard House.
JPMorgan buys First Republic: Bank shares rise as deal reached
Shares of the major U.S. banks are in the green after JPMorgan Chase announced that it would pay $10.6 billion to the FDIC to buy most of First Republic Bank's assets.
Microsoft, Activision to appeal UK's decision to block $69B deal
British regulators stopped a $69 billion deal between Microsoft and Activision on Wednesday, saying the acquisition would stifle cloud gaming competition.
Subway sees year-over-year increase of over 12% in quarterly same-store sales amid sale exploration
Subway, the privately-held footlong sandwich chain that has been exploring selling, put out quarterly sales results on Monday that showed year-over-year growth globally and in North America.
Paramount receives $167M in settlement of lawsuit by CBS shareholders
Paramount Global has agreed to a $167.5 million settlement of investors’ lawsuits over the controversial 2019 merger of CBS Corp. and Viacom Inc.
Walmart to sell Eloquii digital brand to FullBeauty
Walmart has reached an agreement to sell Eloquii, a plus-sized apparel brand it has owned for over four years. FullBeauty Brands, which announced the deal, is purchasing it.
Private equity crackup looming amid higher interest rates and escalating losses
Major private equity firms including Apollo and Blackstone are struggling to fundraise as easy money dries up and REITs begin to crumble.
Morgan Stanley profit beats as wealth business cushions deals slump
Investment banks have suffered the most from a downturn in M&A activity as investors shunned risky bets against the backdrop of volatile markets and rapidly rising interest rates.
Elon Musk says Twitter had many employees but little product development
Twitter CEO Elon Musk told Tucker Carlson on FOX News that 80% of Twitter staff is gone and the company has little to no product development.