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.
Most Popular
Key highlights from Pfizer’s (PFE) Q1 2025 earnings results
Pfizer Inc. (NYSE: PFE) reported its first quarter 2025 earnings results today. Revenues decreased 8% year-over-year to $13.7 billion. GAAP net income decreased 5% to $2.96 billion, or $0.52 per
PYPL Earnings: PayPal reports higher Q1 2025 revenue and profit
PayPal Holdings Inc. (NASDAQ: PYPL) on Tuesday reported a modest increase in revenue for the first quarter of 2025 when the payment service giant's adjusted earnings rose by double digits.
General Motors (GM) Q1 2025 revenue and adj. earnings beat estimates
Auto giant General Motors (NYSE: GM) on Tuesday announced financial results for the first quarter of 2025, reporting an increase in revenue and adjusted profit. The results also topped expectations.
Comments
Comments are closed.