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☆ Neiman Marcus Rejects $3 Billion Takeover Bid by Saks
▼ + stars: | 2023-12-01 | by ( Suzanne Kapner | Lauren Thomas | ) www.wsj.com time to read: 1 min

A merger of Saks and Neiman could help the chains negotiate better terms with suppliers and allow them to strip out duplicate costs. Photo: ed jones/Agence France-Presse/Getty ImagesSaks Fifth Avenue wants to buy rival Neiman Marcus. But the two luxury retailers can’t agree on the terms of a marriage. This week, Neiman rejected Saks’s most recent takeover offer, which valued the upscale chain at close to $3 billion, according to people familiar with the situation. Neiman objected to the deal’s structure, a significant portion of which wasn’t in cash, some of the people said.

Persons: Neiman, Neiman Marcus Organizations: Saks, Agence France

☆ Chasing Neiman Marcus: Saks’s Latest Merger Bid Is Rejected
▼ + stars: | 2023-12-01 | by ( Suzanne Kapner | Lauren Thomas | ) www.wsj.com time to read: 1 min

Persons: Neiman, Neiman Marcus Organizations: Saks, Agence France

Occidental Petroleum Chief Executive Vicki Hollub cut jobs and slashed spending after the company’s last major purchase in 2019. Photo: Nick Oxford/Bloomberg NewsOccidental Petroleum is in talks to buy CrownRock, a major energy producer in the west Texas area of the Permian basin, continuing a frenzy of deal making in the oil patch. A deal for the closely held company, which could be valued well above $10 billion including debt, could come together soon assuming the talks don’t fall apart or another suitor doesn’t prevail, according to people familiar with the matter.

Persons: Vicki Hollub, Nick Oxford, doesn’t Organizations: Occidental Petroleum, Bloomberg News Occidental Petroleum Locations: Texas

A tie-up between Cigna and Humana would breathe new life into the M&A market. Photo: Joe Buglewicz/Bloomberg NewsCigna and Humana are in talks for a combination that would create a new powerhouse in the health-insurance industry. The companies are discussing a stock-and-cash deal that could be finalized by the end of the year, assuming the talks don’t fall apart, according to people familiar with the matter.

Persons: Joe Buglewicz Organizations: Bloomberg Locations: Cigna

☆ Elliott Renews Push for Change at Big Wireless-Tower Owner
▼ + stars: | 2023-11-27 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Crown Castle rents out its towers to wireless carriers including T-Mobile, AT&T and Verizon Wireless under long-term deals. Photo: Ben Hider/Getty Images for Crown CastleElliott Investment Management plans to push for changes at Crown Castle after the activist failed to gain traction when it first took a stake in the big owner of wireless towers. Elliott has amassed a stake of more than $2 billion in Crown Castle, which has a market value of nearly $45 billion, and plans to engage with the company about ways to boost its shares, according to people familiar with the matter.

Persons: Ben Hider, Elliott Organizations: Mobile, Verizon Wireless, Crown Castle Elliott Investment Management, Crown

Cara LombardoCara Lombardo is a senior reporter for The Wall Street Journal in New York. She and her colleagues regularly break market-moving news on the biggest and most interesting deals and activist fights. In 2021, she was part of a team that won a Gerald Loeb Award for the paper’s coverage of Amazon’s business practices. She joined the Journal in 2017 and previously covered breaking news and the beverage industry. She has undergraduate and master’s degrees in accounting and a master’s degree in journalism, all from the University of Wisconsin-Madison.

Persons: Cara Lombardo Cara Lombardo, Gerald Loeb Organizations: Wall Street, University of Wisconsin - Madison, LinkedIn Locations: New York

☆ Wyndham Rebuffs Latest Takeover Attempt From Choice Hotels
▼ + stars: | 2023-11-21 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Wyndham shares closed Monday at $77.95, giving the company a market capitalization of $6.5 billion. Photo: Bridget Bennett/Bloomberg NewsAnother bid by Choice Hotels to strike a deal with Wyndham Hotels & Resorts has fallen flat. After months of on-and-off talks for a deal that would unite two of the biggest budget hotel owners in the country, Wyndham’s board received a letter from Pat Pacious on Nov. 14, in which the Choice chief executive sought to restart negotiations and strike a deal with Wyndham before the end of the year, executives said Tuesday.

Persons: Wyndham, Bridget Bennett, Pat Pacious Organizations: Bloomberg, Choice Hotels, Wyndham Hotels, Resorts, Wyndham

☆ Labor Group Plans Board Fight at Starbucks
▼ + stars: | 2023-11-21 | by ( Lauren Thomas | Cara Lombardo | ) www.wsj.com time to read: 1 min

Protesters among a coalition of unions and Starbucks workers rally outside a New York Starbucks coffee store earlier this month. Photo: Bebeto Matthews/Associated PressA labor group is seeking representation on the Starbucks board, ratcheting up pressure in a battle between the coffee giant and its workers over pay and working conditions. The Strategic Organizing Center—a coalition of labor unions including the Service Employees International Union that owns a small Starbucks stake—is seeking to address what it views as a failure by the board to oversee the company’s treatment of its workers.

Persons: Bebeto Matthews Organizations: Associated Press, Starbucks, Service Employees International Union Locations: New York

☆ Activist ValueAct Builds Stake in Disney
▼ + stars: | 2023-11-15 | by ( Robbie Whelan | Lauren Thomas | ) www.wsj.com time to read: 1 min

Disney has called its theme parks, along with cruises, one of four building blocks of its future. Photo: Joe Burbank/Orlando Sentinel/Associated PressDisney has attracted the interest of another activist investor that believes the company is undervalued, with ValueAct Capital accumulating a stake in the entertainment giant’s stock and initiating dialogue with its board. ValueAct, an activist fund based in San Francisco with investments in information technology, energy, financials and media, has taken a “sizable” but so far undisclosed stake in Disney that makes it one of the fund’s biggest holdings, according to people familiar with the matter.

Persons: Joe Burbank Organizations: Disney, Orlando Sentinel, Associated Press Disney, ValueAct Capital Locations: San Francisco

☆ Vivid Seats Makes Big Bet on Las Vegas
▼ + stars: | 2023-11-07 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Las Vegas is the new home of the Sphere, a large dome-shaped music and entertainment arena. Photo: L.E. Baskow/Las Vegas Review-Journal/Associated PressVivid Seats , the online ticket marketplace, is making a big bet on the Las Vegas Strip with a roughly $240 million deal to buy the operator of Vegas.com. The cash-and-stock deal consists of $151.2 million in cash and $88.8 million in Vivid’s Class-A common stock, executives told The Wall Street Journal.

Organizations: Las Vegas, Las, Wall Street Locations: Vegas

☆ Six Flags, Cedar Fair Strike Big Theme-Park Merger
▼ + stars: | 2023-11-02 | by ( Lauren Thomas | Will Feuer | ) www.wsj.com time to read: 1 min

Theme-park attendance has struggled to rebound from the pandemic. Photo: etienne laurent/ShutterstockSix Flags and Cedar Fair are joining forces in a roughly $2 billion all-stock deal to form a powerhouse in the regional theme-park industry. Six Flags shareholders will receive 0.58 share of common stock in the new company for each share they own, company executives told The Wall Street Journal. Cedar Fair unit holders will receive one share for each unit they own. The company is structured as a master limited partnership.

Persons: etienne laurent Organizations: Fair, Six, Wall Street

☆ Six Flags, Cedar Fair Near Merger Deal
▼ + stars: | 2023-11-01 | by ( Lauren Thomas | Will Feuer | ) www.wsj.com time to read: 1 min

Guests at Six Flags Fiesta Texas in San Antonio. Photo: Tyler Dane Hansen for The Wall Street JournalSix Flags is nearing a deal to merge with Cedar Fair Entertainment , a move that would combine two of the largest regional theme-park chains in the U.S.An agreement could be finalized as soon as this week assuming there is no last-minute snag, according to people familiar with the matter. Cedar Fair is scheduled to report quarterly results on Thursday morning.

Persons: Tyler Dane Hansen Organizations: Texas, The Wall Street, Cedar Fair Entertainment, Fair Locations: San Antonio, U.S

☆ Peltz’s Push for Disney Board Seats Boosted by Perlmutter’s Shares
▼ + stars: | 2023-10-30 | by ( Lauren Thomas | Robbie Whelan | ) www.wsj.com time to read: 1 min

Nelson Peltz, co-founder and chief executive officer of Trian Fund Management, is pressing Disney for multiple board seats. Photo: Calla Kessler/Bloomberg NewsBillionaire and former Marvel executive Isaac “Ike” Perlmutter offered moral and logistical support to his friend Nelson Peltz last year when the activist investor campaigned for big changes at Disney . As Peltz prepares a fresh challenge to the company, Perlmutter is proving to be a key financial ally, too.

Persons: Nelson Peltz, Calla Kessler, Isaac “ Ike ” Perlmutter, Peltz, Perlmutter Organizations: Trian Fund Management, Bloomberg News Billionaire, Marvel, Disney

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat is nearing a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , according to people familiar with the matter. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

Republic First, which has about $6 billion in assets, operates branches in Pennsylvania, New Jersey and New York. Photo: Breanna Denney/The Wall Street JournalA Philadelphia bank struggling to stay afloat agreed to a deal with an investor group aimed at shoring up its finances, a sign that smaller lenders are still under stress after a wave of failures shook the industry earlier this year. Republic First Bancorp is set to receive a $35 million infusion from a group of existing investors led by George Norcross III, Philip Norcross and Gregory Braca , the bank said, confirming an earlier Wall Street Journal report. The bank is in talks to raise another $40 million to $65 million from additional investors.

Persons: Breanna Denney, George Norcross III, Philip Norcross, Gregory Braca Organizations: Republic First Bancorp Locations: Pennsylvania , New Jersey, New York, Philadelphia, Republic

☆ Starboard Takes 5%-Plus Stake in Contract-Research Firm Fortrea
▼ + stars: | 2023-10-17 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

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Persons: Dow Jones

☆ Choice Hotels Unveils $7.8 Billion Takeover Offer For Wyndham
▼ + stars: | 2023-10-17 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/choice-hotels-offers-to-buy-wyndham-for-7-8-billion-d35c2018

Persons: Dow Jones Organizations: wyndham

☆ Wyndham Hotels Rejects Takeover Approach From Choice Hotels
▼ + stars: | 2023-10-17 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/hospitality/choice-hotels-offers-to-buy-wyndham-for-7-8-billion-d35c2018

Persons: Dow Jones Organizations: wyndham

☆ Activist Builds News Corp Stake, Plans to Seek Changes
▼ + stars: | 2023-10-16 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/activist-builds-news-corp-stake-plans-to-seek-changes-c45896da

Persons: Dow Jones

☆ Nelson Peltz Boosts Disney Stake, Seeks Board Seats
▼ + stars: | 2023-10-09 | by ( Lauren Thomas | Robbie Whelan | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/media/nelson-peltz-boosts-disney-stake-seeks-board-seats-77b2c589

Persons: Dow Jones Organizations: disney

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/exxon-mobil-closing-in-on-megadeal-with-shale-driller-pioneer-31b4092e

Persons: Dow Jones Organizations: exxon, mobil

☆ Meal-Kit Maker Blue Apron to Be Sold
▼ + stars: | 2023-09-29 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

Persons: Dow Jones

☆ Scaramucci Emerges as a Leading Bidder for SVB Financial’s Venture-Capital Arm
▼ + stars: | 2023-09-16 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/finance/banking/scaramucci-emerges-as-a-leading-bidder-for-svb-financials-venture-capital-arm-f61bca6d

Persons: Dow Jones

☆ J.M. Smucker to Buy Twinkies Maker Hostess for $4.6 Billion
▼ + stars: | 2023-09-11 | by ( Lauren Thomas | Jesse Newman | ) www.wsj.com time to read: 1 min

Persons: Dow Jones Organizations: smucker

☆ Land & Buildings Seeks Board Changes at Ventas—Again
▼ + stars: | 2023-09-11 | by ( Lauren Thomas | ) www.wsj.com time to read: 1 min

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com. https://www.wsj.com/business/deals/land-buildings-seeks-board-changes-at-ventasagain-c5921b49

Persons: Dow Jones

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