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Merger mania continues, and yesterday’s headlines were chock full of new deals, including the much-ballyhooed announcement that Wendy’s/Arby’s Group, Inc. (WEN) is selling the Arby’s brand to PE firm, Roark Capital Group, in a deal that’s worth an estimated $430 million. (We’ve been expecting that for nearly a year, having written a footnotedPro piece last [...]
June has always been a popular time for weddings. It’s probably a stretch, but it almost seems like an undercurrent of hope and optimism about the future is also present in the numerous “corporate engagements” that exist between publicly-traded companies. Whatever the reason, we found a noteworthy example in the DEFM 14A that LoopNet, Inc. (LOOP) filed [...]
Last August, we wrote this post about Dollar Thrifty Automotive Group, Inc.’s (DTG) dramatic merger negotiations with rivals Avis Budget Group, Inc. (CAR) and Hertz Global Holdings, Inc. (HTZ). At the time, Dollar Thrifty had just announced its intentions to choose a suitor (Hertz) in a proposed $1.3 billion deal that didn’t actually conclude with a “happily [...]
In mid-April, around the time Global Crossing (GLBC) said it would be acquired by Level 3 Communications (LVLT), we footnoted a serendipitous development for Global Crossing’s senior management: a “Special Rewards Program” established in January that gave the top brass thousands of additional shares, theirs to keep “in full upon a Change in Control.” At the [...]
The no-holds-barred battle between Tenet Healthcare (THC) and Community Health Systems (CYH) would be amusing if there weren’t so much at stake: Tenet is fighting for its independence in the face of a decidedly hostile overture from Community Health; Community Health is now facing so many lawsuits and government inquiries you need a spreadsheet to [...]
