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Birkenstock believes it can obtain the final sign-off from the U.S. Securities and Exchange Commission even during a shutdown when the financial regulator would operate with only essential staff, the sources said. SEC Chair Gary Gensler said on Wednesday that a shutdown would reduce his agency's staffing to "skeletal" levels, blocking it from approving companies' IPO filings and hindering the agency's ability to respond to any market turmoil. An SEC spokesperson did not immediately respond to a request for comment on Birkenstock's IPO plans. Companies less advanced in their IPO preparations, including healthcare software vendor Waystar, healthcare services firm Brightspring and car-sharing platform Turo, could be affected by a government shutdown. They did not immediately respond to requests for comment.

Persons: Birkenstock, Kevin McCarthy, Gary Gensler, Abigail Summerville, Anirban Sen, Chris Prentice, Echo Wang, Lisa Shumaker Organizations: U.S, U.S . Securities, Exchange, Republican U.S, SEC, Companies, Thomson Locations: Washington, New York

☆ The Wish Maker: She makes dreams come true for hundreds of young adults battling cancer
▼ + stars: | 2023-09-22 | by ( Meg Dunn | ) edition.cnn.com time to read: +6 min

“To him, it was like the Willy Wonka golden ticket,” Ritschel Boehle said. “For just this period of time, we didn’t think about cancer,” Ritschel Boehle said. The night before Nik passed away, he asked Ritschel Boehle to help make sure that young adults fighting cancer could have their wishes come true too. Granting ‘Nik’s Wish’In 2012, with the help of family and friends, Ritschel Boehle started Nik’s Wish. Check out the Nik’s Wish website and see how to help.

Persons: Illinois CNN — Kelli Ritschel Boehle, Nik, ”, “, Willy Wonka, ” Ritschel Boehle, ” Nik, grantors, Kelli Ritschel, He’d, Ritschel Boehle, they’re, Abigail Savage, Savage, CNN Hero Kelli Ritschel Boehl, ” Savage, it’s, Jordan Morrow, Taylor, CNN Hero Kelli Ritschel, ‘ Taylor Swift, Taylor Swift, ’ ” Morrow, Morrow, ‘ Organizations: Illinois CNN, CNN Locations: Rockford, Illinois, Hawaii, California, Montana, ”, Los Angeles

Since then, Unilever has worked to make Elida an autonomous unit that could also appeal in its entirety to private equity firms, the sources added. Morgan Stanley and Evercore have now contacted several parties to gauge acquisition interest in Elida for what could be a multi-billion-dollar deal, according to the sources. Unilever, Morgan Stanley and Evercore declined to comment. This has prompted Unilever, the maker of Dove soap and Ben & Jerry's ice cream, to review its portfolio of non-core assets it can sell to raise cash. Unilever beat underlying sales growth forecasts in the second quarter after raising prices to offset the higher costs.

Persons: Morgan Stanley, Hein Schumacher, Ives, Moussel, Alberto Balsam, Evercore, Abigail Summerville, Richa Naidu, Chizu Organizations: Unilever Plc, Evercore Inc, Unilever, Credit Suisse, Elida, Breyers, Thomson Locations: St, Zwitsal, Elida, Klondike, New York, London

RICHMOND, Va. (AP) — More Virginia Democrats on Tuesday cast the controversy surrounding a legislative candidate who livestreamed herself performing sex acts as a distraction from the stakes in this fall's elections, while stopping short of fully championing her continued campaign. Virginia Democrats, Gibson among them, have made protecting abortion access a top campaign priority. Gibson's campaign did not respond to an interview request or a detailed list of questions from the AP on Tuesday. The state party also maintained its silence on Tuesday, with spokesperson Liam Watson declining to comment. Among elected officials, Democratic state Sen. Louise Lucas has stood out for her early, clear and vocal support of Gibson.

Persons: livestreamed, Susanna Gibson, Gibson, MAGA, Amy Friedman, Don Scott, Del, Dan Helmer, David Owen, Owen, Glenn Youngkin's, Gibson's, Liam Watson, Sen, Louise Lucas, Abigail Spanberger, Spanberger, ”, Cassady Craighill, Bob Holsworth, “, Holsworth, ” Aaron Evans, David, Evans, Denise Lavoie Organizations: —, Virginia Democrats, House Democratic, MAGA Republicans, Virginians, ”, Democratic, Associated Press ., House Democrats, General Assembly, Republicans, Senate, Democrats, Republican, GOP Gov, Richmond Times, Dispatch, U.S . Rep, Clean Virginia, Republican Party of Virginia, “, Associated Press Locations: RICHMOND, Va, Richmond, Virginia, Glen Allen , Virginia

RICHMOND, Va. (AP) — Derrick Anderson, a U.S. Army combat veteran and attorney, announced plans Monday to again seek the Republican nomination for a Virginia congressional seat that could be a key to determining party control of the U.S. House. The former Green Beret pledged in a statement to run a “tireless, heartfelt, and genuine” campaign to represent the 7th District in the Fredericksburg area, where he grew up. Vega went on to lose to Democratic U.S. Rep. Abigail Spanberger, who has represented the 7th District since 2018. Speculation has swirled for months that Spanberger, seen by Democrats as a rising star and by Republicans as a formidable opponent, will run for Virginia governor in 2025. The 7th District was overhauled during the redistricting process that ended in late 2021.

Persons: — Derrick Anderson, I’ll, ” Anderson, Yesli Vega, Vega, Abigail Spanberger, Jennifer Wexton, Connor Joseph, Spanberger, she's, Bill Moher, Cameron Hamilton, Jon Myers, Shaliek, Craig Ennis Organizations: U.S . Army, Republican, U.S . House, Green Beret, Democratic U.S . Rep, District, Republicans, Virginia, Democrats, U.S . Rep, Monday, Spanberger, Spotsylvania County, Virginia Tech, Georgetown Law, Democratic Locations: RICHMOND, Va, Virginia, Fredericksburg, Washington, Virginia's, Richmond, it's, exurban Washington, Spotsylvania, Afghanistan, Iraq

☆ Abortion: These Virginia candidates could shape how both parties talk about abortion in 2024
▼ + stars: | 2023-09-16 | by ( Simone Pathe | ) edition.cnn.com time to read: +13 min

Every seat in both the GOP-led state House and the Democratic-controlled state Senate is up for election. People sign a poster that reads "Elect More Women" during the Democratic rally in Glen Allen, Virginia, on September 9, 2023. Virginia House Democrats have run an ad highlighting nearby states’ stricter abortion laws and featuring a comment by a state House Republican candidate during the primaries that he would support a “100% ban” on abortion. “The Dobbs decision completely changed what Virginia voters are thinking about,” Mamie Locke, the chair of the Virginia Senate Democratic Caucus, said in a phone interview last month. Susanna Gibson, the Democratic nominee for Virginia House District 57, speaks to the crowd during the rally in Glen Allen, Virginia, on September 9, 2023.

Persons: Glen, Sen, Siobhan Dunnavant, Schuyler VanValkenburg –, –, Glenn Youngkin, Sue Geller, Schuyler VanValkenburg, Tim Kaine, Rebecca Wright, ” VanValkenburg, Roe, Wade, “ There’s, ” Virginia Sen, Abigail Spanberger, Donald Trump, Kaine, CNN Kaine, Mark Warner, Joe Biden, Biden, Dunnavant, – she’s, shouldn’t, “, Dobbs, ” Dunnavant, Ronna McDaniel, Mitch McConnell –, ” Liesl Hickey, Tammy Campbell isn’t, Glen Allen, ” “, ”, VanValkenburg, It’s, Campbell, we’re, ” Campbell, ’, “ MAGA, ” Mamie Locke, Scott Kozar –, VanValkenburg’s –, Eric Cantor, Dave Brat, Arnold Palmers, Susanna Gibson, CNN Gibson, CNN she’s, Gibson, David Owen, homebuilder, Owen, I’m, ” Owen Organizations: Virginia CNN, GOP, Republican, broach, OB, Democratic, GOP Gov, CNN, Democratic Rep, Democratic National Committee, Festival of India, Greater, Greater Richmond Convention, Virginia Senate, Festival of, Washington Post, Schar, Virginia voters, Republicans, Virginia, Democrats, “ MAGA Republicans, Virginia Democrats, Virginia Senate Democratic Caucus, “, Virginia House District, Richmond Times, Dispatch Locations: Glen Allen, Virginia, Henrico County , Virginia, Richmond, “, Del, Glen Allen , Virginia, Roe , Virginia, Southern, Greater Richmond, Festival of India, Richmond , Virginia, Washington, Richmond want Virginia, Ohio, Spanberger

[1/2] Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. Smucker (SJM.N) on Monday agreed to buy Twinkies maker Hostess Brands (TWNK.O) for $5.6 billion including debt in a deal that unites two major American snack makers. The deal was worth about $4.6 billion excluding debt, with Jif peanut butter maker Smucker paying Hostess shareholders $34.25 per share. Campbell Soup's (CPB.N) recent acquisition of Rao's sauce maker Sovos Brands (SOVO.O) represented an adjusted EBITDA multiple of 14.6 times, including run rate savings, and 19.8 times excluding those. Based in Lenexa, Kansas, Hostess was founded in 1930 and is behind several iconic household brands, including Ho-Hos, Ding Dongs, Zingers, and Voortman cookies and wafers.

Persons: Brendan McDermid, Smucker, Campbell Soup's, Smucker's, Campbell, Hostess, Ding Dongs, Dean Metropoulos, Alec Gores, Ananya Mariam Rajesh, Anirban Sen, Abigail Summerville, Dimpal, Savio D'Souza, Shinjini Ganguli, Jason Neely Organizations: REUTERS, Hostess Brands, Reuters, Sovos, JPMorgan, Sovos Brands, Hos, Smucker, Apollo Global Management Inc, Hostess, Thomson Locations: Manhattan, New York City, U.S, North America, Lenexa , Kansas, Ho, Bengaluru, New York

☆ Wendy's chief development officer had male mentors make room for her ideas, even when they weren't popular. It's made a big difference.
▼ + stars: | 2023-09-10 | by ( Josée Rose | ) www.businessinsider.com time to read: +14 min

In the latest Equity Talk, Pringle said male mentors made room for her ideas, even if they weren't popular. With growth comes opportunity, she told me, because "new restaurants create the next big promotion." It's working in our restaurants and talking to our crew members and our general managers on what we can do to really create opportunities. You know, new restaurants create the next big promotion — the next DM and GM and director of operations. Those are the things that I see in part of my role as being able to help create growth.

Persons: Abigail Pringle, Pringle, dulce, she's, I'm, Lindsay Radkoski, Lindsay, Suzie, You've, it's, We've, Wendy's, that's, we've, It's, I've, —, Thiti, Zers Organizations: Service, GM, CMO, CSR, Twitter Locations: Wall, Silicon, Wendy's, Canada, Philippines, India, Australia, Puerto Rico, leche, Argentina

New Era, which makes caps affiliated with the National Football League (NFL), Major League Baseball (MLB) and National Basketball Association (NBA), has invited investment banks and law firms to pitch this month for roles in its stock market debut, the sources said. MLB, the NFL and the NBA hold minority stakes in New Era. The company's earnings before interest, taxes, depreciation and amortization (EBITDA) may reach or surpass $300 million in 2023, the sources added. It was launched in 1954 and customized for select teams in MLB, the NFL and the NBA. Separately, Chris Koch told Bloomberg News on Thursday that New Era had secured a $600 million refinancing loan from banks.

Persons: Kevin R, Wilson, Ehrhardt Koch, Chris Koch, Jim Grundtisch, Jim Patterson, Abigail Summerville, Echo Wang, Anirban Sen, David Gregorio Our Organizations: National Football League, Major League Baseball, National Basketball Association, ACON Investments, MLB, NFL, NBA, Arm Holdings, Ivy League, New, Bloomberg, Thomson Locations: New York, Buffalo , New York, American, New, Echo

☆ C&S, SoftBank near deal to buy stores from Kroger, Albertsons - source
▼ + stars: | 2023-09-06 | by ( ) www.reuters.com time to read: +2 min

The deal value and the number of stores included in the transaction could not be immediately learned. C&S lost one of its largest customers, Ahold Delhaize (AD.AS), when the supermarket group decided to transition to self-distribution in 2019. Kroger, Albertsons, C&S and SoftBank did not respond to Reuters' request for a comment. Reuters had reported in February that Kroger and Albertsons were advancing their plans to sell between 250 and 300 stores that they hope will alleviate U.S. antitrust concerns over their combination. In March, the companies reiterated that they would divest some stores to win the regulatory clearance required to go ahead with the merger.

Persons: Ahold, SoftBank, Kroger's, Juby Babu, Anirban Sen, Abigail Summerville, Sherry Jacob, Phillips, Rashmi Organizations: S Wholesale Grocers, SoftBank, Kroger, Albertsons Companies Inc, Reuters, Bloomberg, Albertsons, Federal Trade Commission, Thomson Locations: Pacific Northwest, Southern California, Phoenix, Chicago, Bengaluru, New York

The deal would give privately held C&S, primarily a supplier rather than an operator of grocery stores, a much more significant footprint. The stores that Kroger and Albertsons plan to shed are primarily in the Pacific Northwest and the Mountain states, along with some in California, Texas, Illinois, and the East Coast, the sources said. Bloomberg News reported about the talks between C&S, Kroger and Albertsons on Monday, as well as SoftBank's involvement but gave no information about the deal terms. Previously, Kroger and Albertsons said they may divest between 100 and 375 stores by placing them in a new company that Albertsons shareholders would own. In a regulatory filing Kroger said the upper limit for divestitures was 650 stores.

Persons: Rick Cohen, Cohen, SoftBank, Kroger, Ahold, Anirban Sen, Abigail Summerville, Juby Babu, Sherry Jacob, Phillips, Rashmi Aich, David Gregorio Our Organizations: Kroger, Albertsons Cos Inc, S Wholesale Grocers, Grand Union, Piggly, SoftBank Group Corp, Symbotic Inc, Albertsons, Bloomberg News, Thomson, & $ Locations: Pacific Northwest, California , Texas , Illinois, East Coast, New York, Bengaluru

Interior Department on Wednesday said it would cancel oil and gas leases in a federal wildlife refuge that were bought by an Alaska state development agency in the final days of former President Donald Trump's administration. Environmentalists and an Alaska indigenous group praised the move while a Republican Senator from Alaska slammed it. A Republican-passed tax bill in 2017 opened the area to oil and gas leasing and directed Interior to hold two lease sales by December 2024. The oil and gas industry largely failed to embrace the 2021 lease sale, which generated just $14 million in high bids, mostly from AIDEA. “We commend Secretary Haaland for canceling unlawfully issued oil-and-gas leases in the Arctic Refuge,” Abigail Dillen, president of environmental group Earthjustice, said in a statement.

Persons: Donald Trump's, Joe Biden, Biden, Deb Haaland, AIDEA, “, ” Abigail Dillen, Dan Sullivan, Interior's, Jarrett Renshaw, Nichola Groom, Chizu Nomiyama, David Gregorio, Mark Porter Organizations: U.S . Fish, Wildlife Service, Library, Fish, REUTERS, Conocophillips, U.S . Interior Department, Alaska Industrial Development, Export Authority, Wildlife, Democrat, National Petroleum Reserve, Alaska Natives, Trump, ConocoPhillips, United Nations, ALASKA Trump's Interior Department, Republican, Biden, Thomson Locations: Beaufort, Wildlife Service Alaska, U.S, Alaska, United States, ALASKA Trump's, ANWR, Washington, Los Angeles

RICHMOND, Va. (AP) — Prosecutors have asked a federal judge to revoke the bond for the mother of a Virginia boy who shot and wounded his first-grade teacher after she allegedly failed multiple drug tests while awaiting sentencing on two felony charges. The boy was 6 when he pulled out his mother's gun in January and fired one shot at Zwerner in a classroom full of students. Taylor was released on bond pending sentencing on the condition that she refrain from unlawful drug use and possession. James Ellenson, one of Taylor's lawyers, told The Virginian-Pilot that he will ask U.S. District Judge Mark Davis not to revoke her bond. As part of a plea agreement, prosecutors agreed to ask for a sentence of 18 months to 24 months in prison.

Persons: Deja Taylor, Abigail Zwerner, Zwerner, Taylor, Lisa McKeel, Peter Osyf, James Ellenson, Mark Davis, ” Ellenson, Ellenson Organizations: — Prosecutors, Elementary School, Virginian, U.S, District, Associated Press, Prosecutors, Newport News Locations: RICHMOND, Va, Virginia, Newport News, U.S, States, Newport, Coast

NASHVILLE, Tenn. (AP) — Tennessee state Rep. Gloria Johnson, a Democrat who shot to national fame after surviving a Republican-led expulsion effort for participating in a pro-gun control demonstration, on Tuesday formally announced that she's running for U.S. Senate. Shortly after the expulsion vote, Johnson quickly noted that likely she avoided expulsion because she was white. Blackburn first won the Tennessee Senate seat in 2018, defeating Democratic former Gov. In the Democratic primary for the Senate seat, Johnson will face off against community activist and organizer Marquita Bradshaw. Bradshaw won the Democratic Senate nomination in 2020, and lost the general election to Republican Bill Hagerty by 27 percentage points.

Persons: Gloria Johnson, Johnson, Sen, Marsha Blackburn, “ Gloria, ”, Justin Pearson, Justin Jones, ” Pearson, Jones, Pearson, Phil Bredesen, Blackburn, Donald Trump, Trump, Marquita Bradshaw, Bradshaw, Bill Hagerty, “ It’s, Abigail Sigler, Joe Biden, Chuck Schumer, ” Blackburn Organizations: Republican, Tuesday, U.S . Senate, Republican U.S, Democratic, Tennessee, Republicans, Blackburn, Tennessee Senate, Gov, Tennessee voters, Senate, “, Democrat Locations: Tenn, Tennessee, Washington

☆ Chile video game brings to life resistance fight against Pinochet dictatorship
▼ + stars: | 2023-09-05 | by ( Natalia A. Ramos Miranda | ) www.reuters.com time to read: +2 min

[1/2] 'Dirty Wars' videogame recreator, Jorge Olivares, inspired by Chile's military coup and the fight against Pinochet's dictatorship, shows a screen with his game featuring La Moneda government palace, in Santiago, Chile, September 4, 2023. The couple in the game, Maximiliano and Abigail, choose to confront the military regime by joining a resistance group. Chile on Sept. 11 will mark half a century since the coup, which saw a violent siege of the government palace in Santiago. Olivares said his game, launched on online gaming platform Steam, was not intended as "Marxist propaganda" or an "allegory" for the Allende government. Reporting by Natalia Ramos and Reuters TV; Editing by Lucinda Elliott and Josie KaoOur Standards: The Thomson Reuters Trust Principles.

Persons: Jorge Olivares, Pinochet's, Rodrigo Gutierrez, La, Augusto Pinochet's, Salvador Allende, Olivares, Abigail, Santiago . Olivares, Allende, Natalia Ramos, Lucinda Elliott, Josie Kao Organizations: La, REUTERS, Rights, Reuters, Thomson Locations: Santiago , Chile, Chilean, South America, Chile, Santiago

☆ Russia-North Korea arms talks are ‘actively advancing,’ U.S. warns
▼ + stars: | 2023-08-31 | by ( Abigail Williams | ) www.cnbc.com time to read: +3 min

Russian Defense Minister Sergei Shoigu visited North Korea in late July for the 70th anniversary of the end of the Korean War, celebrated in North Korea as "Victory Day." Arms negotiations between North Korea and Russia are "actively advancing," the United States said Wednesday, citing new intelligence. "And of course, we'll take action directly by exposing and sanctioning individuals and entities working to facilitate arms deals between these two countries." Any arms deal between North Korea and Russia would directly violate a number of United Nations Security Council resolutions. The Treasury Department announced new sanctions earlier this month targeting three entities tied to a network trying to support arms deals between the two countries and avoid U.S. sanctions.

Persons: Sergei Shoigu, Sergei Shoigu's, Vladimir Putin, Kim Jong, John Kirby, Kirby, Dmitry Peskov Organizations: Russian, North, National Security, Democratic People's, United Nations, Treasury Department, U.S Locations: North Korea, Russia, United States, Washington, Pyongyang, Ukraine, Russian, DPRK, Democratic People's Republic of Korea, U.S, Moscow, South Korea

Higher winds. In a 2018 paper, Dr. Kossin wrote that hurricanes over the United States had slowed 17 percent since 1947. Dr. Kossin likened the problem to walking around your back yard while using a hose to spray water on the ground. Because warmer water helps fuel hurricanes, climate change is enlarging the zone where hurricanes can form. There is a “migration of tropical cyclones out of the tropics and toward subtropics and middle latitudes,” Dr. Kossin said.

Persons: ”, James P, Kerry Emanuel, “, Kossin, “ you’ll, Emanuel, Dr Organizations: National Oceanic, Atmospheric Administration, Hurricanes, Massachusetts Institute of Technology, National Hurricane Center, Researchers Locations: United States, subtropics, Japan

Ian killed 75 people in Lee County, nearly half of the statewide death toll of 149, officials said. At that point, the National Hurricane Center flagged the possibility of a storm surge covering much of Cape Coral and Fort Myers. Parts of Fort Myers Beach had a 40 percent chance of a six-foot-high storm surge, according to the surge forecasts. In Lee County officials said they were waiting to make an assessment the next morning. Officials expanded their evacuation order later in the morning, and by the middle of the afternoon, Lee County officials were more urgent in their recommendation.

Persons: Ian, Lee County, Ron DeSantis, Lee, Fort Myers, ” Organizations: National Hurricane Service, National Hurricane Center, Fort Myers, Facebook Locations: Florida, Tampa, Fort Myers, Lee County, Fort Myers Beach, Sanibel, State, Coral, Fort, Cape Coral, Neighboring Pinellas, Hillsborough, Manatee, Charlotte, Sarasota County, Lee

FILE PHOTO-Hostess Brands "Twinkies" are displayed in a store in the Manhattan borough of New York City, U.S. July 5, 2016. REUTERS/Brendan McDermidFile Photo Acquire Licensing RightsNEW YORK, Aug 25 (Reuters) - Hostess Brands Inc (TWNK.O), the maker of Twinkies snack cakes, is exploring a sale after fielding takeover interest from major snack food makers, people familiar with the matter said on Friday. General Mills Inc (GIS.N), Mondelez International Inc (MDLZ.O), PepsiCo Inc (PEP.O) and Hershey Co (HSY.N) are among the companies that have shown an interest in acquiring Hostess, the sources said. Hostess has hired investment bank Morgan Stanley (MS.N) for advice on handling the deal negotiations, the sources said. No agreement is certain and Hostess may decide against any deal, the sources added.

Persons: Brendan McDermidFile, Hostess, General Mills, Morgan Stanley, Mills, Ding Dongs, Dean Metropoulos, Alec Gores, Gross, Anirban Sen, Abigail Summerville, Chris Reese, Marguerita Choy Organizations: REUTERS, Hostess Brands Inc, Nasdaq, General, General Mills Inc, Mondelez, PepsiCo Inc, Hershey Co, Hostess, Hershey, PepsiCo, Hos, Apollo Global Management Inc, Thomson Locations: Manhattan, New York City, U.S, Mondelez, New York, Lenexa , Kansas, Ho

☆ Biden resists pressure from lawmakers and seeks short extension to key China science pact
▼ + stars: | 2023-08-24 | by ( Jennifer Jett | Abigail Williams | ) www.cnbc.com time to read: +4 min

The Biden administration is seeking a short-term extension to a landmark science and technology agreement with China despite pressure from some U.S. lawmakers who say Beijing could exploit it to gain a security and military advantage. A six-month extension to the Science and Technology Agreement, or STA, will keep the pact in force as the U.S. seeks "authority to undertake negotiations to amend and strengthen the terms," a State Department spokesperson told NBC News on Wednesday. "If it were to go away, not only would it impede government-to-government cooperation, but it would also put other science cooperation at risk," said Seligsohn, a former environment, science, technology and health counselor at the U.S. Embassy in Beijing. China also considers it the enabling document for all other science cooperation with the U.S., including with academic and research institutions. The State Department spokesperson said it was aware of the issues involved with working with China in the are of science and technology.

Persons: Biden, Jimmy Carter, Deng Xiaoping, Deborah Seligsohn, Antony Blinken, Elise Stefanik, Mike Gallagher of, Blinken, Sen, Rick Scott, Donald Trump Organizations: Central South University, Science, Technology, State Department, NBC News, U.S, Villanova University, Embassy, House Republican Conference Locations: China, Central, Changsha city, Hunan province, Beijing, U.S, New York, Mike Gallagher of Wisconsin, United States

☆ Evacuation order lifted for wildfire near Salem, Oregon
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

[1/3] The Liberty Fire, which prompted immediate evacuations, burns near Jory Hill Road and Liberty Road South in Salem, Oregon, U.S. August 23, 2023. Abigail Dollins/USA Today Network via REUTERS Acquire Licensing RightsAug 24 (Reuters) - The evacuation order for people living on the outskirts of the U.S. city of Salem due to the threat from a wildfire was lifted on Thursday. Deputies were going door to door to warn people of the fire and the Oregon State Fire Marshall was helping fight the fire by mobilizing fixed-wing tankers, an air attack platform and a helicopter. Salem is a city 180,000 people about 50 miles (80 km) south of Portland in the northwestern U.S. state of Oregon. The fire was south of the city limits, near the interface between densely populated areas and green space.

Persons: Abigail Dollins, Oregon State Fire Marshall, Salem, Daniel Trotta, Simon Cameron, Moore, Mark Potter Organizations: Liberty, USA, Network, REUTERS Acquire, Salem Fire Department, Marion County Sheriff, Oregon State Fire, Statesman, Thomson Locations: Jory, Salem , Oregon, U.S, Salem, Marion County, Oregon, Portland

These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources familiar with the matter said. The arrangement helped bridge a gap in the valuation expectations between Roark Capital and the DeLuca and Buck families that own Subway, according to the sources. The deal will make Roark Capital one of the largest restaurant operators in the world. Subway said in February it was exploring a possible sale, drawing interest from private equity firms including Roark, Advent International, TDR Capital and TPG as well as Goldman Sachs' asset management arm. Roark and Subway have 12 months to close the deal, which has a 4% breakup fee, sources said.

Persons: Roark, DeLuca, Buck, Jimmy John's, Neil Saunders, GlobalData, Goldman Sachs, Anirban Sen, Abigail Summerville, Deborah Sophia, Arun Koyyur Organizations: Roark Capital, TDR, Sycamore Partners, Brands, Baskin, Robbins, Buffalo Wild Wings, Subway, Advent, TDR Capital, TPG, Thomson Locations: U.S, North America, New York, Bengaluru

Reuters reported on Tuesday on a so-called earn-out agreement that was key to Roark clinching a deal for Subway. Roark prevailed over a rival bidding group led by buyout firms TDR Capital and Sycamore Partners, whose final offer was for $8.75 billion including an earn-out, and $8.25 billion without, the sources said. Roark took the view that the restaurant market is too fragmented for the deal to raise competition concerns, the sources added. Roark and Subway, which announced the deal on Thursday, declined to comment on the terms. Roark currently controls Inspire Brands, the owner of restaurant chains including Jimmy John's, Arby's, Baskin-Robbins and Buffalo Wild Wings.

Persons: Roark, DeLuca, Buck, John's, Jimmy John’s, Jimmy John's, Neil Saunders, Peter Buck, Fred DeLuca, JPMorgan Chase, Sullivan, Cromwell, Weiss, Garrison, Roark Capital, Morgan Stanley, Anirban Sen, Abigail Summerville, Deborah Sophia, Greg Roumeliotis, Marguerita Choy Organizations: Roark, Reuters, Subway, TDR Capital, Sycamore Partners, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, JPMorgan, Cromwell LLP, Thomson Locations: Connecticut, U.S, Bridgeport , Connecticut, The Milford , Connecticut, Rifkind, Wharton, New York, Bengaluru

☆ Wildfire forces evacuations near Salem, Oregon
▼ + stars: | 2023-08-24 | by ( ) www.reuters.com time to read: +1 min

The Liberty Fire, which prompted immediate evacuations, burns near Jory Hill Road and Liberty Road South in Salem, Oregon, U.S. August 23, 2023. The Oregon State Fire Marshall was helping fight the fire by mobilizing fixed-wing tankers, an air attack platform and a helicopter, it said on X. The fire had burned at least 10 acres (4 hectares), the Statesman Journal reported, citing the state fire marhsal. Salem is a city 180,000 people about 50 miles (80 km) south of Portland in the northwestern U.S. state of Oregon. The fire was south of the city limits, near the interface between densely populated areas and green space.

Persons: Abigail Dollins, Oregon State Fire Marshall, Daniel Trotta, Simon Cameron, Moore Organizations: Liberty, USA, Network, REUTERS Acquire, Marion County Sheriff, Oregon State Fire, Statesman Journal, Thomson Locations: Jory, Salem , Oregon, U.S, Oregon, Salem, Marion County, Portland

A Subway sandwich shop logo is pictured in the Manhattan borough of New York February 14, 2014. These conditions, known as an earn-out, defer payment on part of the deal consideration, the sources said. The Wall Street Journal reported on Monday that Roark Capital was nearing a deal to buy Subway for about $9.6 billion. A spokesperson for Subway declined to comment, while representatives for Roark and TDR did not immediately respond to requests for comment. Roark controls Inspire Brands, owner of the Jimmy John's, Arby’s, Baskin-Robbins, Buffalo Wild Wings, Dunkin’, Rusty Taco and SONIC Drive-In chains.

Persons: Carlo Allegri, Roark, DeLuca, Buck, John's, TDR, Sycamore, Goldman Sachs, Fred DeLuca, Peter Buck, Jimmy John's, Dunkin ’, Rusty Taco, Jimmy John’s, Abigail Summerville, Anirban Sen, Greg Roumeliotis Organizations: REUTERS, TDR, Sycamore Partners, Goldman Sachs, Subway, Street, Roark Capital, Goldman, Inspire Brands, Baskin, Robbins, Buffalo Wild Wings, Thomson Locations: Manhattan, New York, TDR Capital, Bridgeport , Connecticut, The Milford , Connecticut, U.S, Champaign , Illinois

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