American Express Global Business Travel (GBT) said on Friday it would merge with a blank-check firm backed by Apollo Global Management Inc to go public in a deal valued at around $5.3 billion.
Sometimes a deal’s harshest criticism is its best defense. Such is the case for chipmaker Nvidia’s attempt to buy Arm, an acquisition the U.S. Federal Trade Commission is now suing to block. The inflating price of the largely stock-based deal has significantly undermined the financial logic . The regulator’s lawsuit, however, provides a useful reminder of the strategic rationale for owning the so-called Switzerland of semiconductors.
Philip Morris will reach its target of 50% sales from smoke-free products by 2025 through organic revenue growth rather than mergers and acquisitions, its CEO told Reuters.
The U.S. Federal Trade Commission on Thursday sued to block U.S. chip company Nvidia Corp's more than $80 billion planned acquisition of British chip technology provider Arm, adding to already significant global regulatory challenges of the deal.