By Dave Sebastian Acacia Communications Inc. is scrapping a plan to sell itself to Cisco Systems Inc. for roughly $2.6 billion, though the networking-equipment giant is aiming to muscle its way to completing the deal. Cisco agreed to buy Acacia, a maker of optical interconnect technologies such as modules and semiconductors, in July 2019 for $70 a share in cash. The San Jose, Calif.-based company said Acacia s technology would enable users of its hardware such as data-center operators and telecom-service providers to drive more data over high-speed internet networks. On Friday, Acacia said the deal hadn t received the Chinese government s approval of the combination within the prescribed time frame, a claim Cisco disputes. The Maynard, Mass.-based company said that it has the right to walk away from the transaction and that it wouldn t be eligible for a $120 million deal-termination payment from Cisco.
Weston Family to Sell Shares to George Weston, Loblaw at Below-Market Prices
12/18/2020 | 07:23am EDT
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Message : By Dave Sebastian The family behind the Canadian food-processing company George Weston Ltd. and grocery chain Loblaw Cos. is selling some shares in the two companies at below-market pricing.
George Weston controlling shareholder W. Galen Weston, through an entity he controls, is selling shares as part of a reorganization of his holdings and doesn t have any intention to sell George Weston or Loblaw shares outside the Weston family, the two companies said Friday. For the transaction, George Weston has agreed to buy for cancellation 1.3 million of its shares from an entity controlled by Mr. Weston, with the repurchased shares representing less than 1% of outstanding shares, it said. Loblaw has agreed to buy for cancellation 3.27 million of its shares from an entity controlled by Mr. Weston, with repurchased shares also representing less than 1%
Dec. 17, 2020 6:22 pm ET
Home Depot Inc. is paying $20.75 million in a settlement proposed by U.S. regulators for alleged violations involving lead safety in home renovations, the Environmental Protection Agency and the Justice Department said.
The EPA found that the home-improvement company sent uncertified firms to do renovations that required certified firms. The agency investigated five customer complaints in Illinois, Maine, Michigan, Minnesota and Wisconsin relating to instances where the subcontracted renovation firms in some cases didn’t use lead-safe work practices, perform post-renovation cleaning, provide EPA-required lead-based paint pamphlets or maintain appropriate records, it said.
The settlement, which is the highest civil penalty obtained so far under the Toxic Substances Control Act, includes $750,000 to be paid to Utah, $732,000 to Massachusetts and $50,000 to Rhode Island, the EPA and DOJ said.
Provided by Dow Jones By Dave Sebastian Shares of Prevail Therapeutics Inc. rose 88.4% in premarket trading after Eli Lilly & Co. agreed to buy the company for up to $1.04 billion, or $26.50 a share, in cash, giving Lilly access to Prevail s set of gene therapies for Parkinson s and other neurodegenerative diseases. The deal value comprises about $880 million, or $22.50 a share, in cash, the companies said Tuesday. The other $160 million in contingent value right, or $4 a share, would be paid upon the first regulatory approval of a product from Prevail s pipeline, which also includes gene therapies for dementia, Alzheimer s and neuronopathic Gaucher disease.
Johnson Outdoors Inc. said its profit and sales shot up in the latest quarter, driven by high demand for fishing, camping and watercraft recreation products.