mergers and acquisitions

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Facebook Buys Rival FriendFeed for $50M

Purchase sets up battle with Twitter for real-time search market

(Newser) - Facebook is buying fellow social networking site FriendFeed for nearly $50 million, the Wall Street Journal reports. Friendfeed, a 12-employee outfit founded by former Google engineers, allowed users to share information across multiple social media services but never took off beyond a core techie user base. The purchase may help...

Why MicroHoo Won't Kill Google
 Why MicroHoo 
 Won't Kill Google 
Analysis
Jul 29, 2009 12:41 PM CDT

Why MicroHoo Won't Kill Google

(Newser) - Wondering what the Microsoft/Yahoo pact will mean for you, the tech-loving consumer? Probably not much, writes Todd Weiss for PC World. His reasons:
  • “I tried Bing, I played with Bing, I experienced Bing, but Bing, you’re no Google search,” Weiss opines. Even with Yahoo’s help, and
...

Microsoft, Yahoo Finally Strike Search Deal
Microsoft, Yahoo Finally Strike Search Deal
UPDATED
Jul 29, 2009 7:25 AM CDT

Microsoft, Yahoo Finally Strike Search Deal

(Newser) - Microsoft and Yahoo finally officially tied the knot today, with a 10-year deal to integrate their search and advertising businesses, MSNBC reports. It appears Microsoft won't pay Yahoo up front, which is probably a blow to Yahoo CEO Carol Bartz, who promised she'd only join Microsoft for a "boatload...

Boeing Buys Dreamliner Supplier, Sparks Move Rumors

(Newser) - Boeing Co. today agreed to buy the manufacturing operations of South Carolina-based Vought Aircraft Industries, a key supplier for its much-delayed 787 Dreamliner, in a deal that’s causing much consternation in Seattle, NPR reports. Boeing has long threatened to leave its production base in Washington state for cheaper pastures,...

Times Co. Puts Globe on Market
 Times Co. Puts Globe on Market 
Jun 10, 2009 9:52 AM CDT

Times Co. Puts Globe on Market

(Newser) - The New York Times Company has hired Goldman Sachs to handle a possible sale of the Boston Globe, the Globe reports. Goldman, which has also been trying to help the Times Co. unload its 17.5% stake in the Red Sox, has been telling prospective buyers it would accept bids...

Supreme Court Won't Block Chrysler Sale

(Newser) - The Supreme Court has cleared the way for Chrysler's sale to Fiat, turning down a last-ditch bid by opponents of the deal. The court late today rejected a plea to block the sale of most of Chrysler's assets to the Italian automaker. With the court's move, the deal can now...

Ginsburg Delays Chrysler-Fiat Deal

(Newser) - Supreme Court Justice Ruth Bader Ginsburg today put a temporary stay on the sale of Chrysler to Italian automaker Fiat, SCOTUSBlog reports. Ginsburg’s motion allows the justices to further consider the matter, and either postpone the sale or let it go forward. A full postponement of the sale would...

Penske Can Make Saturn Work
 Penske Can Make Saturn Work 
analysis
Jun 6, 2009 3:36 PM CDT

Penske Can Make Saturn Work

(Newser) - Roger Penske could be just what the mechanic ordered for Saturn, analysts tell the Detroit News. By leaving the manufacturing work to others—initially GM and then, for a time, foreign automakers—Saturn's new buyer will be able to focus on sales and marketing and avoid the pitfalls GM faced....

Treasury Pushed Reluctant Chrysler Into Fiat Deal

(Newser) - The Obama administration foisted the Fiat alliance on Chrysler, brushing aside its concerns about Fiat’s financial health and unwillingness to share technology, the Wall Street Journal reports. E-mails filed during Chrysler’s bankruptcy proceedings show Fiat ignoring requests for documents, reluctant to ante up funds, and attempting to change...

Hummer Deal Will Make Beijing Crazy
 Hummer Deal Will Make Beijing Crazy 
Analysis
Jun 3, 2009 9:28 AM CDT

Hummer Deal Will Make Beijing Crazy

(Newser) - The news that an obscure Chinese heavy equipment manufacturer is probably making government officials pull their hair out in frustration, writes Andrew Peaple of the Wall Street Journal. “Beijing is keen for Chinese companies to expand overseas,” he allows. “But they’re also hoping for some common...

Time Warner Set to Spin Off AOL by Year's End

Division to go public by year's end

(Newser) - Time Warner plans to to shed its AOL division by the end of the year, the company said today, spinning it off into a publicly traded firm, the Wall Street Journal reports. Many predicted the move when Time Warner tapped Google ad exec Tim Armstrong as AOL’s CEO, and...

Toys 'R' Us Buying FAO Schwarz

(Newser) - One of the biggest names in toys is buying one of the oldest. Toys 'R' Us will announce tomorrow that it has struck a deal to purchase FAO Schwarz for an undisclosed amount, reports the New York Times. The store's name won't change. FAO has been a New York City...

Judge Greenlights Chrysler Auction
Judge Greenlights Chrysler Auction
May 6, 2009 2:21 AM CDT

Judge Greenlights Chrysler Auction

Bankruptcy ruling starts clock ticking toward merger with Fiat

(Newser) - A bankruptcy judge has given Chrysler approval to auction off most of its assets by May 27, the Detroit Free Press reports. The move—decided over the strenuous objections of some lenders holding Chrysler debt—is the first step toward the auto maker's proposed partnership with Fiat, which has offered...

Apple Reportedly Eying Twitter

(Newser) - Apple is closing in on a $700 million, all-cash deal to buy Twitter, Gawker reports. Silicon Valley sources say an agreement could be announced as early as next month at Apple’s annual Worldwide Developers Conference, and the iPhone is reportedly the force behind the deal: Its users already post...

Chrysler's Honeymoon With Fiat Won't Last Long
Chrysler's Honeymoon With Fiat Won't Last Long
Analysis
May 1, 2009 10:36 AM CDT

Chrysler's Honeymoon With Fiat Won't Last Long

(Newser) - Chrysler is rushing into the arms of Fiat now, but it may be sorry later, writes Dan Neil for the Los Angeles Times. Fiat "pays next to nothing and now has instant access to US markets," which it’s been lusting after. "But in this new Italian...

Angry Shareholders Pelt Bank Chairman With Shoes

Fortis meeting turns ugly as investors start singing 'La Marseillaise'

(Newser) - An emergency meeting of troubled Belgian bank Fortis had to be suspended today after raucous shareholders raided the stage and pelted the bank's chairman with shoes. The bank is attempting to broker a sale to BNP Paribas, the French giant, but angry small shareholders booed, shouted down speakers and demanded...

Thain Accuses BofA of Lying About Bonuses

Fired Merill CEO tries to 'set the record straight' about $3.6B payout

(Newser) - In his first lengthy interview since being pushed out as CEO of Merrill Lynch, John Thain tells the Wall Street Journal that Bank of America—which acquired Merrill in September—is lying about its involvement in the $3.6 billion in bonus payouts that made Thain the poster boy for...

BofA CEO Says Feds Urged Silence on Merrill Losses

Shareholders kept in the dark to ensure deal

(Newser) - Bank of America's CEO felt pressured by Fed Chairman Ben Bernanke and Treasury chief Henry Paulson to withhold details of last year's Merrill Lynch acquisition from shareholders, including mounting losses at Merrill that triggered a $20 billion bailout, the Wall Street Journal reports. BofA CEO Ken Lewis said in testimony...

Oracle Buys Sun Microsystems
 Oracle Buys Sun Microsystems 
Apr 20, 2009 7:20 AM CDT

Oracle Buys Sun Microsystems

(Newser) - Oracle Corp. has agreed to buy Sun Microsystems, swooping in after Sun’s talks with IBM fell apart. Oracle will pay $7.4 billion, or $9.50 a share for Sun, the Wall Street Journal reports, a 42% premium on Friday’s close. Though Sun has been losing money, Oracle...

'I Made a Mistake' Buying Tribune Co.: Zell

Canny investor admits he backed a losing horse

(Newser) - Sam Zell is famous for his business acumen. He made a near-psychic call to sell his office-property company for billions just months before the market tanked. But the magnate now tells Bloomberg another deal he made was as boneheaded, in retrospect, as the Equity Office Properties deal was prescient: buying...

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