Topic
merger
Logistics BNSF CEO assails UP-NS merger filing, says transcon will raise rates and prices
BNSF CEO Katie Farmer criticized the latest UP-NS merger filing, arguing it does not mitigate anticompetitive impacts and will raise rates for shippers and prices for consumers. The combined railroad would control 37% of North American rail traffic, with an additional 13% via a CN operating agreement.
Finance Japanese Bank Merger Creates $12.8bn Ship Finance Heavyweight, Uniting Two Regional Lenders
Two of Japan's most important regional maritime lenders, Iyogin Holdings and Ehime Bank, have signed a basic agreement to integrate, creating a banking group with more than ¥2.1trn ($12.8bn) in ship and maritime loans. The merger, effective April 1 next year, will combine Iyo Bank's ¥1.6trn shipping portfolio with Ehime Bank's ¥500bn exposure, making the group the third-largest ship finance lender in Japan and 10th globally.
Paramount and Warner Bros Pause $110bn Merger Amid Legal Challenge from States and Unions
Paramount Skydance and Warner Bros Discovery have agreed to pause their $110bn merger until June 2027 while a US judge considers a legal challenge from 12 US states and the Writers Guild of America. The pause follows European regulatory approval, conditioned on ending a film distribution partnership with Universal Pictures. The companies insist the merger is necessary to compete with streaming giants, but opponents argue it harms competition and reduces bargaining power for creators.
Logistics BNSF: New UP-CN deal undermines case for merger
BNSF publicly opposed Union Pacific's merger with Norfolk Southern, arguing that UP's recent agreement with Canadian National actually undermines UP's claim that a merger is necessary to achieve benefits. BNSF contends the deal shows partnerships can deliver the same advantages, leaving fewer competitive options for shippers.
Logistics CN and UP Reach Settlement on Norfolk Southern Merger, Enhancing Rail Access in Chicago and Mexico
Canadian National and Union Pacific have reached a settlement on the Union Pacific-Norfolk Southern merger. UP gains rights to CN's Elgin, Joliet & Eastern route for a faster Chicago bypass, while CN gets operating rights from Memphis to Eagle Pass, improving its Mexico access. The deal, subject to STB approval, includes additional trackage rights and terminal acquisitions.
Business Segro Board Unanimously Backs Prologis' Increased $18.7 Billion Takeover Bid
Segro's board agreed to back Prologis' increased £14 billion ($18.7 billion) takeover bid, with a 9.5% increase over the initial offer and a 47% premium to Segro's three-month weighted average share price. The UK Takeover Panel extended the deadline to August 12. The deal highlights growing consolidation in logistics real estate.
Business Penske Automotive Soars on $13.8 Billion Take-Private Bid by Two Largest Owners
Penske Automotive Group shares surged after its two largest shareholders, Mitsui & Co. (USA) and Penske Corporation, announced a $210 per share bid to acquire the remaining 27.8% of the company and take it private, valuing the automotive retailer at $13.8 billion. The deal underscores consolidation in automotive retail amid technological shifts.
Business US Judge Temporarily Blocks $110bn Paramount-Warner Bros Merger Amid Antitrust Concerns
A US federal judge has temporarily blocked the proposed $110bn merger between Paramount Skydance and Warner Bros Discovery, granting a 14-day restraining order in response to an antitrust lawsuit filed by 12 US states. The judge cited serious questions about the deal's impact on movie distribution and the public's interest in antitrust enforcement.
Business Segro Rejects Enhanced $18.2B Prologis Takeover Bid, Third Offer Rebuffed
Segro has rejected Prologis' third and enhanced takeover bid valued at £13.5 billion ($18.2 billion), representing a 6% increase over the initial all-stock proposal. The offer includes a 20% cash component and a 41% premium to Segro's three-month weighted average share price. Segro called the bid opportunistically timed, while Prologis argued its proposal provides superior value and access to a larger logistics network.
Business Uber to Acquire Delivery Hero in $14.8 Billion Deal, Creating Largest Food-Delivery Group Outside China
Uber agreed to acquire Delivery Hero at an equity value of $14.8 billion, creating the largest food-delivery group outside China. The deal, conditioned on a 50% plus one share acceptance threshold, is expected to close in the second half of next year and positions Uber to better compete with Just Eat and DoorDash.
Business TVS Arm Home Credit India to Acquire Education Loan Specialist Varthana Finance for Rs 967 Crore
Home Credit India Finance, a subsidiary of TVS Holdings, signed a share purchase agreement to acquire Varthana Finance, an education loan specialist, for Rs 967 crore in an all-cash deal. The acquisition aims to diversify Home Credit's portfolio, improve business mix, and create synergies in distribution, technology, and risk management. The transaction is subject to regulatory approvals and is expected to close within nine months.
Logistics Union Pacific and Norfolk Southern CEOs Discuss Merger That Could Reshape U.S. Economy
During a July 4th celebration in Philadelphia, Union Pacific CEO Jim Vena and Norfolk Southern CEO Mark George discussed their pending rail merger, regulatory evaluation expectations, and a procedural wish regarding the Surface Transportation Board. The merger could reshape the U.S. economy.
Logistics Diana Shipping and Genco Trade Fire Before Tender Deadline as Public Battle Escalates
The takeover fight between Diana Shipping and Genco Shipping & Trading has intensified in the final stretch before Diana's tender offer deadline on July 10. Genco has urged shareholders not to tender, arguing that the offer undervalues the company, while Diana accuses Genco of avoiding negotiations. As of June 26, 10.6 million Genco shares had been tendered, representing 28.4% of outstanding shares not owned by Diana.
Business RWE Acquires Indirect Majority Stake in German Grid Operator Amprion
German utility RWE has acquired an indirect majority stake in transmission system operator Amprion, increasing its total shareholding to 55%. The transaction supports Amprion's €42 billion investment plan to expand Germany's grid by 2030.
Business Volkswagen sells majority stake in Everllence to Bain Capital in €7.4bn deal
Volkswagen has agreed to sell a 75% stake in German engine manufacturer Everllence to private equity firm Bain Capital in a deal valuing the business at €7.4bn ($8.4bn). Volkswagen will retain a 25% minority holding. The transaction is subject to regulatory approvals and expected to close later this year. Everllence, formerly MAN Energy Solutions, supplies marine engines and has growing businesses in carbon capture and industrial decarbonisation.
Business Snap-on Acquires Diesel Laptops for $100 Million in Cash, Expanding Heavy-Duty Truck Diagnostics
Snap-on Incorporated acquired Diesel Laptops for $100 million in cash, closing on June 8, 2026, according to FreightWaves. The acquisition expands Snap-on's diagnostic capabilities into heavy-duty trucks and equipment, integrating Diesel Laptops into its Repair Systems & Information Group. The deal underscores the growing importance of advanced diagnostics in commercial vehicle repair.
Prologis Presses Segro After $16.6B Offer Rejected, Touts Strategic Benefits
Prologis has intensified its pursuit of Segro after the London-based logistics warehouse operator rejected a £12.6 billion ($16.6 billion) all-stock takeover bid. Prologis outlined a strategic thesis including access to its larger network and balance sheet, while Segro called the offer 'inadequate, opportunistic and one-sided.' Shares of Prologis fell 2.2%, while Segro rose 7.8%.
Halifax Brand Scrapped After 173 Years as Lloyds Banking Group Consolidates Portfolio
Lloyds Banking Group has confirmed it will retire the Halifax brand after 173 years, rebranding all customer accounts to Lloyds. The decision, reported by BBC Business, aims to simplify the group's portfolio. No job cuts are announced, and branches will be rebranded or relocated throughout 2027.
Business Eldorado Drilling Completes $257M Acquisition of Vantage Drilling
Eldorado Drilling has completed its $257m acquisition of Vantage Drilling, creating a combined fleet of five rigs. Vantage will become an indirect subsidiary and delist from the Oslo stock exchange. The deal is funded by $125m in equity from Eldorado's principal shareholder.
Business AP Moller Holding Acquires Norwegian Shipleasing Specialist Ocean Yield from KKR
AP Moller Holding has agreed to acquire Ocean Yield from KKR, adding a Norwegian shipleasing platform with over 70 vessels and a contracted backlog exceeding $5 billion. The deal, which requires regulatory approvals, expands the Danish group's maritime portfolio following recent acquisitions of Maersk Supply Service, Maersk Tankers, and Svitzer. No purchase price was disclosed.
Business Sky to Acquire ITV's Broadcast Arm in Landmark UK Media Takeover
Sky, the pay-TV and broadband company owned by Comcast, is expected to buy ITV's television and streaming channels, including ITVX, in one of the largest takeovers in British media history. The deal will create a new American-owned British media company, with ITV's production arm, ITV Studios, remaining as a separate publicly traded entity. Key ITV shows will remain free-to-air until at least 2034 due to public service broadcasting obligations.
Business EasyJet Reaches Agreement in Principle with Castlelake Over £5.2bn Takeover Bid
EasyJet has reached an agreement in principle with US investment firm Castlelake over a takeover offer worth approximately £5.2 billion, at £6.90 per share. The board said it would be minded to recommend the offer if a firm bid is made, but Castlelake must secure regulatory clearances, including compliance with EU ownership rules, by 3 August.
Business ITV Agrees £1.6bn Sale of Media and Entertainment Arm to Sky
ITV is selling its media and entertainment divisions, including broadcast channels and ITVX streaming service, to Sky for £1.6bn. The deal, one of the largest in British media history, excludes ITV's studio arm and is backed by Comcast, which owns Sky. Sky CEO Dana Strong called it a 'defining moment for British media'.
Business Getty Images calls off Shutterstock merger after UK regulator's divestment demand
Getty Images abandoned its planned merger with Shutterstock after the UK competition regulator required divestments that the companies deemed unacceptable. The deal, which would have created a dominant stock photography platform, is now terminated.
Logistics Union Pacific, Norfolk Southern Submit First Portion of Merger Data to STB, Face Deadline
Union Pacific and Norfolk Southern submitted the first portion of additional merger data to the Surface Transportation Board on July 7, addressing questions about control of Terminal Railroad Association of St. Louis, Kansas City Terminal Railway, and TTX. The railroads offered to divest their stakes to preserve neutrality. The STB set a July 27 deadline for the full submission, and a second filing on competition issues is expected. The merger is targeted for completion by mid-2027.
Finance Deutsche Bank Sells India Retail and Wealth Business to Kotak Mahindra Bank for Rs 282 Crore
Kotak Mahindra Bank acquires Deutsche Bank's India retail, private banking and wealth business for Rs 282 crore in a slump sale. The deal transfers Rs 29,000 crore in loans, Rs 16,000 crore in deposits and Rs 10,500 crore in assets under management, along with 150,000 customers and around 1,000 employees. Deutsche Bank's divestiture aligns with its Global Hausbank strategy to concentrate on corporate and investment banking.
Technology Qualcomm Acquires AI Chip Software Startup Modular for Nearly $4 Billion
Qualcomm announced the acquisition of chip startup Modular for nearly $4 billion in stock, including $300 million for employees. The deal brings Modular's software platform that lets AI code run on different chips, and signals Qualcomm's push into data center AI. Modular was founded by Chris Lattner and Tim Davis, and raised $250 million nine months ago.
Logistics Wintermar Offshore Marine Group acquires Fast Offshore Supply to expand CTV fleet and newbuilding capabilities
Wintermar Offshore Marine Group has taken full ownership of Fast Offshore Supply and its Indonesian subsidiary, expanding into crew transfer vessels. The acquisition adds 10 new CTVs under long-term charter and shipbuilding contracts with Shell, increasing Wintermar's fleet from 12 to 22 units and lowering average fleet age from 16 to 14 years.
Business Skyborn Renewables Sells 25% Stake in German Baltic Sea Wind Farm Gennaker
Skyborn Renewables, a BlackRock-owned offshore wind developer, has agreed to sell a 25% stake in the Gennaker wind farm in the German Baltic Sea to Stadtwerke München. The 976.5 MW project, once completed, will be the largest offshore wind farm in the German Baltic Sea and is expected to power approximately 1 million homes annually. The transaction is subject to regulatory approvals and construction financing closing, targeted for Q3 2026.
Business Vantage Drilling Merger with Eldorado Clears Shareholder Vote, Transaction Valued at $257.6M
Shareholders of offshore drilling contractor Vantage Drilling approved the proposed merger with Neil Hall-led Eldorado Drilling during a special general meeting. Under the terms, Vantage will become a wholly owned subsidiary of Eldorado, with Vantage shareholders receiving $19 per share in cash, representing an equity value of approximately $257.6 million. The transaction is funded by $125 million in equity commitments from Eldorado's principal shareholder. Completion remains subject to certain conditions.
Logistics After a five-year wait, C.H. Robinson makes a broker acquisition
C.H. Robinson announced the acquisition of DeSpir Logistics, an Illinois-based specialized secure transportation provider, for $75 million. The deal expands C.H. Robinson's capabilities in high-value, mission-critical freight services, following a five-year hiatus in brokerage acquisitions. The company's CEO Dave Bozeman had hinted at an upcoming acquisition at a recent investor conference.
Business Wipro raises Aggne stake to 80% with $2.1 million investment to strengthen insurance technology business
Wipro has raised its ownership stake in insurance technology company Aggne to 80%, investing $2.1 million in the process. The acquisition deepens Wipro's presence in the insurance tech sector.
Logistics Diana Shipping sweetens Genco bid again with cash-and-stock offer valuing target at $27.34 per share
Greek dry bulk owner Diana Shipping has increased its takeover proposal for US-listed rival Genco Shipping & Trading for a fourth time, adding a stock component and valuing Genco at $27.34 per share. The cash-and-stock offer includes $24.80 per share in cash plus one Diana share valued at $2.54. Diana CEO Semiramis Paliou stated the proposal provides a meaningful premium and immediate cash value while creating one of the largest publicly listed dry bulk operators.
Logistics MSC denies report of Hapag-Lloyd acquisition talks; carrier says claim 'not true or correct'
Mediterranean Shipping Co (MSC) has denied a report from Manager Magazin that it is looking to acquire a stake in Hapag-Lloyd. A combination of the two lines would reshape the liner landscape and affect Maersk's strategic alliance. MSC already has strong ties to Hamburg through its stake in port operator HHLA.
Logistics CMA CGM Moves to Acquire Aircraft Maintenance Specialist Crystal Aero Solutions
CMA CGM has signed a preliminary agreement to acquire Crystal Aero Solutions, a French aircraft maintenance company that supports its freighter fleet. The acquisition aims to strengthen CMA CGM's air cargo operations, with Crystal continuing as an independent provider. Financial terms were not disclosed.
Business Paramount Refused to Air Ad Criticizing Its $111 Billion Merger With Warner Bros.
Paramount refused to air a 30-second advertisement from Freedom of the Press Foundation that criticized its $111 billion merger with Warner Bros. Discovery, according to the nonprofit. The ad, submitted for the UFC Freedom 250 event, warned of potential censorship under Trump-allied CEO David Ellison. Paramount did not comment on the rejection.
Technology Spacex Acquires AI Coding Startup Cursor For $60bn Days After Bumper IPO
Elon Musk's SpaceX agreed to buy AI coding startup Cursor for $60bn days after Cursor's IPO. The deal, announced in April as an option, will close by September. Cursor's technology automates code generation and is used by Stripe, Adobe, and Nvidia. SpaceX aims to combine Cursor's product with its Colossus supercomputer to build leading AI models.
Business Historic Cammell Laird Name Set to Disappear After Balaena Takeover of APCL Group
Balaena's acquisition of APCL Group will see the historic Cammell Laird shipyard renamed Balaena Birkenhead, ending a nearly 200-year-old brand. The deal merges five shipyards and 12 dry docks across the UK and Gibraltar.
Business Woodside Energy Dismisses ExxonMobil Takeover Speculation as Unfounded
Woodside Energy has denied any discussions with ExxonMobil regarding a potential acquisition, following media reports that the U.S. supermajor was evaluating Woodside as a target to bolster its LNG and Asian market presence. Bloomberg reported early-stage internal talks at ExxonMobil, but Woodside confirmed no proposal or negotiations exist.
Business Salesforce Acquires Customer Service AI Firm Fin for $3.6 Billion
Salesforce announced a $3.6 billion acquisition of Fin, the AI-first customer service company formerly known as Intercom. The deal adds Fin's proprietary Apex model and AI agents that resolve 76% of customer queries, complementing Salesforce's Agentforce platform which generates $1.2 billion in annual recurring revenue. The transaction is subject to regulatory approval and expected to close by Q4 2026.
Business Union Pacific CEO Jim Vena rejects potential government investment in $85B Norfolk Southern merger
Union Pacific CEO Jim Vena dismissed the possibility of government investment in the railroad's $85B merger with Norfolk Southern, stating UP can handle the price alone. President Trump had suggested government equity stakes in essential companies. Vena views Trump's interest positively but had no direct communication. The US has invested $21B in 16 deals since January 2025.
Business Fox to Acquire Roku for $22 Billion, Aiming to Create Third-Largest US TV Player
Fox Corporation announced it will acquire streaming platform Roku for about $22 billion, or $160 per share. Subject to regulatory approval, the deal would combine Fox's live content portfolio with Roku's streaming ecosystem to create the third-largest player in US television.
Logistics ESL Shipping to Absorb AtoB@C Under Single Brand, Simplifying Shortsea Dry Bulk Presence
Finland’s ESL Shipping is absorbing its Swedish subsidiary AtoB@C Shipping into a single ESL brand to simplify market presence. The gradual transition will not affect customer agreements or operations, according to the company.
Business DoJ Clears Paramount Skydance-Warner Bros. Merger, Expanding Ellison Media Empir
The US Department of Justice approved the acquisition of Warner Bros. Discovery by Paramount Skydance, a deal backed by $45.7 billion in equity from Oracle co-founder Larry Ellison. The merger places Paramount Skydance CEO David Ellison in control of historic studios, HBO, CNN, and Warner Bros. Games, while drawing scrutiny from state attorneys general and European regulators.
Business Union Pacific Defends Merger Application Amid AG Criticism
Union Pacific has refuted claims by attorneys general from six states that its merger application with Norfolk Southern lacked necessary information. The company insists the merger will enhance competition and align with U.S. economic policies.
Business Union Pacific and Norfolk Southern's $85B Merger Advances
Union Pacific and Norfolk Southern's $85 billion merger advances as the Surface Transportation Board delays a decision, avoiding a historic second rejection. The merger aims to create the first transcontinental railroad, though market reactions have been mixed.