Categories Finance, Retail

Thanksgiving transactions: Three major deals announced this week

The week of Thanksgiving started off in a pretty interesting way. Three major deals were announced on Monday alone. Let’s take a look at them:

Viagogo-StubHub

eBay (NASDAQ: EBAY) announced the sale of its ticketing business StubHub to Viagogo for $4.05 billion in cash. Viagogo is a Switzerland-based ticket marketplace and this deal provides both companies the opportunity to do business across more than 70 countries. The sale is expected to close by the end of the first quarter of 2020, subject to regulatory conditions.

LVMH-Tiffany

Prominent luxury group LVMH Moet Hennessy Louis Vuitton SE (LVMH) announced an agreement to acquire luxury jeweller Tiffany & Co. (NYSE: TIF) for approx. EUR14.7 billion, or $16.2 billion. The transaction amounts to $135 per share in cash and is expected to close in the middle of 2020, subject to approvals and conditions. The deal is expected to strengthen LVMH’s watches and jewelry business and broaden the company’s presence in the US.

Also read: eBay (EBAY) gains after $4-Bil deal with Swiss firm Viagogo to sell StubHub

Charles Schwab-TD Ameritrade

The Charles Schwab Corporation (NYSE: SCHW) announced an agreement to acquire TD Ameritrade in an all-stock transaction valued at approx. $26 billion. As per the agreement, TD Ameritrade stockholders will receive 1.0837 Schwab shares for each TD Ameritrade share, which represents a 17% premium over the 30-day volume weighted average price exchange ratio as of November 20, 2019.

The transaction is expected to close in the second half of 2020 and is estimated to be 10-15% accretive to GAAP EPS and 15-20% accretive to operating cash EPS in the third year following the close of the deal.

Follow our Google News edition to get the latest stock market, earnings and financial news at your fingertips.

Most Popular

Earnings calendar for the week of May 3

Leading stock indexes retreated after gaining mid-week when Wall Street biggies like Apple and Amazon reported impressive quarterly numbers. The Dow Jones Industrial Average was down 190 early Friday, while

How did the first quarter of 2021 turn out for the airline industry?

The airlines sector was severely impacted by the disruption caused by the COVID-19 pandemic in 2020. A year later, the industry is still limping its way to a recovery. In

Amazon (AMZN) fine-tunes growth strategy to stay in the fast lane

The company that witnessed the strongest growth during the pandemic is probably Amazon.com, Inc. (NASDAQ: AMZN), which went into overdrive when the crisis triggered an online shopping boom. Taking a

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top