All posts tagged: merger

Delta trust merger escalated to ministers

Delta trust merger escalated to ministers

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Trust boss left puzzled after advisory board refers decision to minister Trust boss left puzzled after advisory board refers decision to minister A trust CEO said he has been left puzzled after a merger that would create England’s second-biggest academy chain was referred to ministers to rule on. Delta Academies Trust boss Paul Tarn took over Coast and Vale Learning Trust as chief executive in April, following an “in-principle agreement” between the organisations to join forces. The proposals – which will take Delta’s tally to 63 schools – were due to be decided on by the Department for Education’s Yorkshire and Humber advisory board last month. Coast and Vale has six schools. But documents published today reveal the case has instead been escalated to government ministers, but don’t say why this has been done. “I’m at a loss,” Tarn said. “We’re well above national for all the key measures, we’re the most efficient trust, financially, in the country, we’re rebuilding all our schools from the ground up – this is the kind of trust you want …

Honda And Nissan To Work Toward Merger That Would Make Them World’s Third Largest Automaker

Honda And Nissan To Work Toward Merger That Would Make Them World’s Third Largest Automaker

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As China continues its dominance over the global market, EVs continue to play a central role in changing the business and global economies slow down, Honda and Nissan have announced plans to merge, according to AP. The resultant company would be world’s third-largest automaker by sales, according to the report. On Monday the two companies announced they had signed a memorandum of understanding to integrate their businesses, with Mitsubishi Motors also joining the discussions. Facing competition from EV leaders like Tesla and China’s BYD, Japanese automakers are uniting to cut costs and accelerate their transition to electric vehicles. Honda’s president, Toshihiro Mibe, stated the companies plan to form a joint holding company, maintaining their brands while Honda leads management. A merger agreement is targeted for June, with the holding company expected to list on the Tokyo Stock Exchange by August 2026. There is still to study and discuss, Mibe said. He commented: “Frankly speaking, the possibility of this not being implemented is not zero.” “We have come to the realization that in order for both parties to be …

French Film Groups Goodfellas, Rectangle Finalize Merger

French Film Groups Goodfellas, Rectangle Finalize Merger

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French film companies Rectangle Productions and Goodfellas have completed their merger, the two companies unveiled on Friday. Rectangle, the production house behind San Sebastian opener Emmanuelle and 2021 Venice festival winner Happening, and Vincent Maraval’s Goodfellas, who have handled international sales on such features as Hayao Miyazaki’s Oscar-winning The Boy and The Heron, and Francis Ford Coppola’s Megalopolis, finalized their merger on November 4, 2024. The companies have been collaborating for years, with Goodfellas handling sales on Rectangle productions including Emmanuelle, Valerie Donzelli’s Cannes 2023 film Just the Two of Us, and Charlene Favier’s Oxana, among others. The merger, the companies said, was “carried out in the interests of all stakeholders” and marked “an important milestone for these long-standing partners.” Rectangle Productions, under Alice Girard and Edouard Weil, said it will retain its brand, creative independence, attached talent, and all ongoing projects. In a statement, the company said it was devoted to continuing to “produce ambitious films and TV series in collaboration with their usual talents and partners.” For Goodfellas, the merger gives a major …

Coast and Vale merger decision due

Coast and Vale merger decision due

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Delta boss Paul Tarn took over Coast and Vale Learning Trust as chief executive in April Delta boss Paul Tarn took over Coast and Vale Learning Trust as chief executive in April More from this theme Recent articles Merger plans that would create England’s second-biggest multi-academy trust are due to be decided next month – by a board its chair sits on and with its chief executive already in charge of the other chain. Delta Academies Trust boss Paul Tarn took over Coast and Vale Learning Trust as chief executive in April. Paul Tarn It followed an “in-principle agreement” between the two trusts to join forces. The proposals – which will take Delta’s tally to 63 schools – will go before the Department for Education’s Yorkshire and Humber advisory board in two weeks. But leaders have warned of the risks attached to such a move. One trust chief executive, who asked not to be named, said: “The advisory board is in a very difficult position because they [the trusts] are so far down the line. …

Indian fintech Slice seals bank merger

Indian fintech Slice seals bank merger

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Indian fintech startup Slice has completed its merger with North East Small Finance Bank, marking a rare instance of a startup successfully entering India’s tightly regulated banking sector. The merger, first proposed last year, transforms the Bengaluru-based startup into a banking entity, following months of regulatory scrutiny that has reshaped India’s fintech landscape. Slice, which previously gained prominence by issuing credit card-like products, will maintain its existing digital payment and lending services while expanding into traditional banking offerings including savings accounts and investment products, according to an email sent to customers on Sunday. Banking licenses have proved elusive in India, where the central bank has rejected most applications in recent years. The Reserve Bank of India’s wariness stems from its experience with failed banks in the 1990s and governance lapses at Yes Bank and PMC Bank in the past decade. While India has produced dozens of fintech unicorns, most must partner with traditional banks to offer basic services, making them vulnerable to regulatory changes and partner banks’ shifting priorities. This would explain why so many …

Trump Media investor convicted of insider trading ahead of merger

Trump Media investor convicted of insider trading ahead of merger

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Bruce Garelick walks following a hearing at the Manhattan Federal Court, in New York City, July 20, 2023. Amr Alfiky | Reuters A federal jury in New York on Thursday convicted an investor of insider trading in the stock of a shell company ahead of its announcement in October 2021 that it would merge with Trump Media. The investor, Bruce Garelick, had been on the board of directors of the publicly traded company, Digital World Acquisition Corp., at the time he was accused of sharing and exploiting non–public information with others about its plans to merge with then-privately held Trump Media, the owner of the Truth Social app. Trump Media’s majority shareholder is former President Donald Trump, who was not accused of any wrongdoing in the case against Garelick in U.S. District Court in Manhattan. But Garelick’s trial, which began on April 30, took place just blocks away from where Trump is on trial in Manhattan Supreme Court on criminal charges related to a hush money payment to porn star Stormy Daniels. Two co-defendants of …

Paramount replaces CEO with trio as it talks merger with Skydance

Paramount replaces CEO with trio as it talks merger with Skydance

Published by Sam

LOS ANGELES :Paramount Global replaced CEO Bob Bakish with atrio of executives, the company announced on Monday in the middle of talks with David Ellison’s Skydance Media about a possible merger. The owner of the Paramount+ streaming service, the Paramount Pictures movie studio and cable networks including MTV, BET and Showtime announced the change just ahead of reporting better-than-expected earnings for the quarter ended in March. Paramount’s shares were up nearly 1 per cent at $12.36 in after-hours trading. A new Office of the CEO will be led by CBS President and CEO George Cheeks, Paramount Pictures studio chief Brian Robbins, and Chris McCarthy, head of Showtime, MTV and other networks, the company said. Paramount is in exclusive talks with Skydance and is working to build its streaming business as it faces tough competition from Netflix and Walt Disney as viewership of cable TV declines. “We’re finalizing a long-term strategic plan to best position this storied company to reach new and greater heights in a rapidly changing world,” McCarthy said on the company’s quarterly earnings …

Kroger, Albertsons announce plans to sell hundreds more stores to gain merger approval

Kroger, Albertsons announce plans to sell hundreds more stores to gain merger approval

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Kroger was dealt a big blow in February when, 16 months after the company first announced plans to acquire its competitor Albertsons, the Federal Trade Commission and eight states sued to block the $25 billion merger between two of the country’s largest supermarket chains.  The FTC asserted that the deal would eliminate the “fierce competition between Kroger and Albertsons,” which consumer groups worried would lead to higher grocery prices and union job losses during a time of sustained food inflation. “In some regions, such as in Denver, the combined Kroger/Albertsons would be the only employer of union grocery labor. Union grocery workers’ ability to leverage the threat of a boycott or strike to negotiate better CBA terms would also be weakened,” the FTC said in a press release.  At the time, Kroger responded by saying that the “only winners if this merger is blocked will be larger, non-unionized retailers who will continue to fight union growth,” a message Albertsons leadership underscored.  “If the Federal Trade Commission is successful in blocking this merger, it would be …

Oxfordshire firms Ridgefield Consulting and Kench & Co announce merger

Oxfordshire firms Ridgefield Consulting and Kench & Co announce merger

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Ridgefield Consulting, an independent tax and accounting practice, in Oxford has merged with its sister company, Kench & Co in Henley. Three years ago, Ridgefield MD Simon Thomas acquired Kench & Co from the retiring Eric Kench, but the two practices have remained separate and distinct up to now. The merger brings together two diverse teams of experts with experience in accounting, taxation and business advisory services across a wide range of industries. Ridgefield has assured that clients of Kench & Co can expect a ‘seamless transition’. Simon said: “We’re excited to announce the merger of Kench & Co and welcome their talented team into the Ridgefield Consulting family. “By combining our strengths and expertise we will be able to deliver exceptional value to our clients across both regions, further solidifying our position as a leader in the accounting industry.” The Henley office will continue to deliver core tax and accounting services to startups, established businesses, and private individuals, but are now also bolstered by the Oxford team to provide support to SMEs in claiming R&D …

Tapestry merger with Versace owner Capri gets EU, Japan approval

Tapestry merger with Versace owner Capri gets EU, Japan approval

Published by Sam

:Coach parent Tapestry’s $8.5 billion deal to buy Michael Kors owner Capri Holdings has received regulatory clearance from the European Union and Japan, the companies said on Monday. The merger, which would bring top luxury labels such as Tapestry’s Kate Spade, Stuart Weitzman and Capri’s Jimmy Choo and Versace under one roof, is still awaiting clearance from U.S. regulators. The U.S. Federal Trade Commission (FTC) sought additional information on the planned merger from the two companies in November, months after the deal was announced. Tapestry CEO Joanne Crevoiserat told Reuters in an interview that the companies are cooperating with the FTC’s requests and the deal is still on track to close in the 2024 calendar year. “(The EU approval) is another important milestone and a step towards closing the deal. It’s a recognition of what we see – this is a transaction that is going to be great for consumers in a highly competitive market,” Crevoiserat said. A merger between the two companies would help Tapestry compete better with Paris-listed LVMH in the European luxury …