Newell Rubbermaid has announced acquisition of Jarden Corporation in a cash and stock deal for $13.22 billion. The company will get control over iconic brands including Sharpie, Rubbermaid, Sunbeam and Coleman. The combined entity will be named Newell Brands.
The new company is expected to generate annual revenue of $16 billion. Newell Rubbermaid CEO Michael Polk will take over as CEO of the Newell Brands. Jarden Corp. shareholders will receive $21 in cash and 0.862 shares of the new company for each share held.
Activist investor Daniel Loeb of hedge fund Third Point in a private letter to Dow Chemical Co. called for the removal of Dow Chemical’s CEO Andrew Liveris. The news came after company’s agreement to merge with DuPont Co, in the largest-ever chemicals merger.
Loeb supports the deal, but he has raised a question in the letter sent to Dow’s board on Saturday about the timing of the deal, the Wall Street Journal reported.
In order to avoid paying taxes, yahoo initially decided to spin off its 15% stake in the Chinese e-commerce giant into a separate company. The stake in Alibaba has been the most attractive part of Yahoo lately and so the company is spinning off its core. Moreover, yahoo initially decided to spin off its Internet Business too. From Yahoo’s perspective, its plans seem well judged as it owns billions of dollars in taxes to federal government, which ultimately depresses the value of stake. For a company, its CEO and board of directors, its goal remains ultimately to increase shareholder value.
A merger worth more than $120 billion will take place between DuPont and Dow Chemical Co that would reshape the chemical and agricultural industries. Termed as the ‘deal of three centuries’, the merger news has been welcomed by activist investors.
The companies will first merge into one having around $90 billion in total revenue and then break into three separate businesses. As per analysts, the deal announced on Friday will have to face severe regulatory scrutiny.
The Sweet Leaf Tea Company has made a voluntary recall announcement of 1.5 million bottles of ice tea because of the possibility of glass fragments. The recall is active for iced tea coming in six flavors in 16-ounce glass bottles distributed between February 27 and December 6, 2015.
Retailer Amazon has purchased thousands of truck trailers in a bid to improve goods delivery for customers during holiday season. The biggest online retailer is gearing up for strong holiday shopping season after registering record breaking sales during Black Friday and Cyber Monday. Thousands of Amazon-branded trucks will be employed by the company to speed up deliveries. Amazon spokeswoman informed that the company will continue using its existing logistics partners and the new capacity has been added to improve the delivery of goods.
Businesses across the world are growing at a rapid scale and are adopting new and modern methods to increase quality of their products and satisfy their customers. But, the retail giant Amazon has planned to stay with the old fashioned method i.e. Trucks.
Amazon since long has ignored profit for growth of the company. And since past 20 years, the retailer has been pouring resources into the business to build a massive logistics infrastructure. The basic idea behind doing this is to make the deliveries of the orders placed by its current well on time.
Last month, the US job growth probable stayed solid in a show of the economy's resilience. As a result, the Federal Reserve could hike interest rates in December for the first time in roughly last 10 years.
A Reuters survey of economists has predicted nonfarm payrolls increasing 200,000, in addition to October’s 271,000 jobs creation. The unemployment rate is likely to remain at a 7-1/2-year low of 5%. Many Fed officials see this range as steady with full employment.
Wells Fargo is facing investigation by the U.S. regulators after reports of misleading and too hard sales tactics. The financial services major could face charges for pushing the employees too hard to meet sales targets and at the same time, turning a blind eye to questionable behavior.
According to Wall Street Journal report, the investigation is underway by experts at the Office of the Comptroller of the Currency and the San Francisco Federal Reserve.
Every year’s Cyber Monday registers new record of online shoppers trying to take advantage of post-Thanksgiving sales. During the biggest online shopping day of the year, it is not a surprising thing to know about online shopper rush leading traffic jamming.
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