Tag Archives: Deals

L Brands is nearing a deal to sell its Victoria’s Secret brand. The buyer is Sycamore Partners, a private equity firm specializing in retail and consumer investments. The details of the deal have not been revealed.In January, there appeared rumors about L Brands considering selling Victoria’s Secret brand and its CEO Lex Wexner stepping down. According to those familiar with the matter, the acquiring company is Sycamore Partners, a private equity firm specializing in retail and consumer...

ICE CEO Jeffrey Sprecher noted that Bakkt is the main booster for ICE’s growth and that the key focus for Bakkt in 2020 is consumer adoption.Bakkt, a company that is backed by the Intercontinental Exchange (ICE) which is also the proprietor to NYSE, will focus primarily on consumer adoption in the fiscal year 2020. This is according to ICE CEO, Jeffrey Sprecher who spoke during the Intercontinental Exchange’s Q4 earnings on Thursday, February 06, 2020.According to Sprecher, after Bakkt...

China has announced that next week, it will cut tariffs on US goods by half. Stocks in China, as well as in other countries, have reacted positively to this statement.On Thursday, China said it will cut down tariffs on more than a few U.S. goods. Chinese authorities announced it will reduce tariffs placed on these goods worth $75 billion by 50%.China Cuts Tariffs as Trade Tensions ImproveChina had initially announced tariffs on these goods on Sept. 1. 2019. The tariffs were in retaliation to...

Acquiring the Philadelphia-based Heritage Financial Systems, ConsenSys gets access to advisory and broker-dealer capabilities in the U.S.Global blockchain company ConsenSys acquires U.S. broker-dealer. The company focused on developing Ethereum-based dApps has decided to purchase the Philadelphia-based Heritage Financial Systems in order to implement blockchain for tokenizing municipal bonds.#ConsenSys "acquired broker-dealer Heritage Financial Systems, betting that governments can more...

ICE has offered to buy the American multinational e-commerce corporation eBay at a staggering price of $30 billion. However, there have been no formal talks between the two firms yet.The New York Stock Exchange proprietor  ICE has offered to buy the American multinational e-Commerce corporation eBay and add $2 billion more than the initial set price by the company ($28 billion). The news came at a time when the eBay shares (EBAY INC) were struggling to break the resistance zone at $36 for the...

Payment platform Worldline SA in a bid to maintain its stronghold in the now competitive industry is set to acquire a rival firm Ingenico. The amount of the deal is already known. It will be $8.6 billion, which makes it the biggest deal in Europe so far in 2020. The sum is equal to 7.8 billion in euros.Global MergerBoth companies have been circling each other for years, but the reorganization of Ingenico last year gave Worldline SA the avenue to formally bid for the company. Worldline SA...

Brexit could “unleash the full potential” of the United Kingdom, though there will be “bumps in the road”, said the UK Prime Minister Boris Johnson in his first speech since Britain formally left the European Union. In his next speech that regards a trade deal with the bloc and other countries, Johnson will probably mention that he is ready to cut all the talks with the EU regarding the trade in case he doesn’t get it his way. He already set Australia as a successful example of a country that...

The leading manufacturer of office equipment Xerox is officially launching a hostile takeover to acquire computing giant HP. According to Xerox, the company will start with nominating 11 independent candidates during HP’s annual stockholders’ meeting in April. If elected, the new board will make it easier for Xerox to acquire the PC manufacturer.The decision to play hard resulted from HP’s rejection of Xerox’s takeover bid. The price at which Xerox valued HP made up $33.5 billion. However, HP...

On Wednesday, it got about that American online payments company PayPal had partnered with UnionPay International (UPI), a subsidiary of the Chinese leading payment processor UnionPay. For both companies, the deal is a good way to expand their networks and penetrate into new markets.Jim Magats, senior vice president of global payments at PayPal, commented:“At PayPal, we are proud of this landmark agreement with UnionPay International and the global impact that this creates for our joint...

Ripple‘s partner MoneyGram, a leading payment provider, has continued to position itself among the leaders in cross-border crypto payments. After its major deal with Ripple for On-Demand Liquidity in 2019 worth $50 million, the company has now announced a new collaboration with Lulu Exchange.The exchange ranks among the most prominent crypto and non-banking finance providers in the United Arab Emirates region. Lulu has its headquarters in Abu Dhabi and operates more than 180 active...