What does an investor need to know this week?
2022.11.20 06:55
Budrigannews.com – What does an investor need to know this week?
1. Estee Lauder has agreed to buy Tom 2.8 billion Tom Ford. The company will pay about22.3 billion, plus a $300 million delay payment, starting in 2025.p.A.The company plans to pay $250 million to extend the brand’s long-term global eyewear license.
D.A.Davidson analyst Linda Bolton Weiser believes the Tom Ford deal is “a huge positive for EL.””EL had to buy Tom Ford,” Bolton Weiser argues, “because if Kering bought Tom Ford, Kering could have brought the beauty business in-house at some point in the future, removing one of EL’s top growth revenue sources.”1″Bank of America analyst Brian Spirane weighed in positively on the deal, raising the price target for El shares to 230 per share from the previous share2 218.
2. 8x8Inc (NASDAQ:) has approached about acquisitions by strategic buyers, according to sources cited by StreetInsider. The buyer is said to have hired a banker to explore the deal. It is unclear whether the 8×8 is entertaining approach or hiring its own advisers. 8×8 is an integrated cloud communication platform that has had a fair share of acquisition speculation over the years. In 2017, the company’s shares were trading at more than 4 times the level at the time, but it considered selling but failed.
3. Hasbro Inc (NASDAQ:) has decided to sell most Entertainment One, according to Bloomberg, citing people familiar with the matter. After receiving the acquisition interest, the company appointed Jpmorgan and Centerview Partners to lead the process.
4. Opiant Pharmaceuticals Inc (NASDAQ:) said that Indivior Inc, a subsidiary of Indivior PLC (OTC:) (LON:), has agreed to acquire $20.00 per share in cash, plus contingent value rights (CVRs) representing potential additional payments over seven years of up to $8.00 per share if achieved. The advance represents a premium of about 11 percent to Opiant’s closing price on March 11, 2022, 111, according to the company.
5. According to Bloomberg, Standard General’s proposed acquisition of tegna Inc (NYSE:) has cleared the security review. The filing says the U.S. security agency has no “objection” to the deal, which still needs to clear antitrust and FCC reviews. According to Bloomberg, Standard General’s acquisition of Tegna earlier this month prompted the Justice Department to question potential TV price increases, citing people familiar with the matter. Antitrust officials are also concerned about information sharing.
6. Diamondback Energy Inc (NASDAQ:) has agreed to acquire Northern Midland Basin assets in exchange for 4.18 million shares of Diamondback common stock and $850 million in cash through an agreement to purchase all leasehold and related assets of Lario Permian, LLC, a subsidiary of Lario Oil Gas Company, and certain related sellers.
