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Big Oil’s patchy deals record casts shadow over green makeover

LONDON (Reuters) – As major oil companies prepare to spend billions on renewable energy assets to stay relevant in a low-carbon future, the industry’s patchy track record on takeovers is a red flag for some investors. Ten years ago, the world’s top energy comp... More »

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Factbox: Intesa eyes integration, growth after UBI bid succeeds

MILAN (Reuters) – Intesa Sanpaolo (ISP.MI) succeeded in its bid for UBI Banca (UBI.MI) on Tuesday after acquiring two thirds of its target’s shares to pass a vital threshold that leaves it in full control of what will be the euro zone’s seventh-largest bank. W... More »

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Intesa ups bid for UBI by 18% with cash sweetener

MILAN (Reuters) – Italy’s Intesa Sanpaolo (ISP.MI) on Friday raised its bid for rival UBI Banca (UBI.MI) by 18%, adding a cash sweetener to secure investor backing for its plan to create the euro zone’s seventh-largest banking group. In mid-February, just befo... More »

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CoreLogic rejects $7 billion takeover bid from investment firms

(Reuters) – Property data and analytics company CoreLogic rejected an unsolicited $7 billion takeover offer from two investment firms on Tuesday, saying it expected to earn more this year and would buy back more of its stock. A consortium of Cannae Holdings In... More »

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ECB lowers bar for bank mergers in hope of spurring consolidation

FRANKFURT (Reuters) – The European Central Bank is lowering the bar for bank mergers in the euro zone, hoping to encourage an elusive wave of consolidation in a sector plagued by low profits and unresolved issues inherited from the last financial crisis. In a ... More »

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Walmart’s streaming service to be bought by Comcast-owned Fandango

(Reuters) – Walmart Inc’s video-on-demand service, Vudu, said on Monday it would be acquired by Fandango Media LLC, a movie ticketing service owned by cable company Comcast Corp. The terms or value of the deal were not disclosed. Walmart bought Vudu over a dec... More »

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Alstom confirms talks on potential $7 billion Bombardier deal

PARIS (Reuters) – French train maker Alstom (ALSO.PA) has confirmed it is in talks on the possible acquisition of the train business of Canada’s Bombardier (BBDb.TO), a potential $7 billion deal that could help it build scale in the increasingly competitive ra... More »

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New York drops fight against T-Mobile-Sprint merger

NEW YORK (Reuters) – New York on Sunday dropped its fight against the $40 billion merger of U.S. wireless carriers T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N), saying the state would not appeal a judge’s approval of the deal. New York Attorney General Letit... More »

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Toshiba to extend tender offer period for NuFlare until Jan. 16

TOKYO (Reuters) – Toshiba Corp said on Monday it would extend the period of its tender offer for chip equipment unit NuFlare Technology Inc until Jan. 16. The extension of the offer, from the originally set Dec. 25, was requested by NuFlare to give its shareho... More »

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T-Mobile CEO takes the stand in T-Mobile/Sprint merger trial

(Reuters) – T-Mobile US Inc Chief Executive John Legere testified on Friday that he believes U.S. regulators considered Dish Network’s history of attempting to build a wireless network when they approved the merger between T-Mobile and Sprint Corp. A group of ... More »

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France’s Sanofi to buy biotech firm Synthorx for $2.5 billion

PARIS (Reuters) – Sanofi (SASY.PA) said on Monday it had agreed to buy California-headquartered biotechnology firm Synthorx in a cash deal worth about $2.5 billion aimed at beefing up the French drugmaker’s pipeline of drugs for cancer and auto-immune disorder... More »

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Buffett’s Berkshire outbid for Tech Data: CNBC

(Reuters) – Billionaire investor Warren Buffett was thwarted in trying to spend some of the $128.2 billion of cash at his Berkshire Hathaway Inc, after a private equity firm outbid him to buy technology equipment distributor Tech Data Corp for $5.14 billion, C... More »

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Morgan Stanley fund offer for PNE too low: shareholders group SdK

FRANKFURT (Reuters) – Morgan Stanley Infrastructure Partners’ (MS.N) offer for PNE (PNEGn.DE) which values the German renewable firm at 306 million euros ($337 million) is too low, small shareholders group SdK said on Tuesday. The 4.00 euro per share bid runs ... More »

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HP reiterates its rejection of Xerox’s offer to buy the company

(Reuters) – HP Inc (HPQ.N) reiterated on Sunday its rejection of Xerox Corp’s (XRX.N) $33.5 billion cash-and-stock offer for the company, adding that the proposal “significantly undervalues HP.” The personal computer maker said last Sunday it rebuffed Xerox’s ... More »

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Prologis to buy warehouse rival Liberty in $12.6 billion deal

(Reuters) – Warehouse giant Prologis Inc (PLD.N) said on Sunday it had agreed to acquire rival industrial real-estate business Liberty Property Trust (LPT.N) in a $12.6 billion deal to improve its U.S. presence amid the ecommerce boom. If approved, Prologis sa... More »

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Blackstone to launch tender offer for Japan’s Unizo

TOKYO (Reuters) – Private equity firm Blackstone Group (BX.N) said on Tuesday it would launch a tender offer for Japan’s Unizo Holding (3258.T) at 5,000 yen ($46) a share, firing back after its earlier bid for the hotel chain was rebuffed. Blackstone said in a... More »

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Hong Kong Exchanges proposes $39 billion London Stock Exchange…

LONDON (Reuters) – The Hong Kong Exchanges and Clearing Limited has proposed a 31.6 billion pound ($39 billion) takeover of the London Stock Exchange (LSE.L), it said on Wednesday, just weeks after the London bourse announced a plan to merge with data company ... More »

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Exclusive: Grab in talks to merge Indonesian payment firms to…

JAKARTA (Reuters) – SoftBank-backed ride hailer Grab is in talks to merge OVO, an Indonesian digital payments firm in which it owns shares, with an Ant Financial-backed local peer to build heft and power ahead of archrival Gojek, people familiar with the matte... More »

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Sensor specialist AMS triggers bidding war for Germany’s Osram

VIENNA (Reuters) – Austrian sensor specialist AMS (AMS.S) triggered a bidding war for Osram (OSRn.DE) on Sunday, saying it was ready to pay $3.8 billion for the German lighting group’s shares, 10% more than finance investors Bain Capital and Carlyle (CG.O) hav... More »

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Deal-hungry Takeaway.com delivers $10 billion Just Eat takeover

LONDON/AMSTERDAM (Reuters) – Amsterdam-based online food delivery firm Takeaway.com (TKWY.AS) has agreed to buy Just Eat (JE.L) in an all-share deal valuing the combined group, which will be one of the sector’s largest, at about 8.2 billion pounds ($10.1 billi... More »

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U.S. Department of Justice approves T-Mobile, Sprint tie-up

WASHINGTON (Reuters) – The U.S. Justice Department said it was greenlighting T-Mobile US Inc’s request to acquire rival Sprint Corp after the companies agreed to divest Sprint’s prepaid businesses including Boost Mobile to Dish Network Corp in an effort to cre... More »

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Synthomer to buy Omnova in $824 million deal

(Reuters) – Polymer maker Synthomer Plc said on Wednesday it has agreed to buy Omnova Solutions Inc for an enterprise value of $824 million in a bid to strengthen its global position. London-based Synthomer is offering Beachwood, Ohio-headquartered Omnova $10.... More »

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Eldorado Resorts clinches $18 billion cash and stock deal for…

NEW YORK (Reuters) – U.S. casino operator Eldorado Resorts Inc has agreed to merge with Caesars Entertainment Corp in a cash and stock deal that values its peer at about $18 billion including debt, people familiar with the matter said on Sunday. The agreement ... More »

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UBS looks to Sumitomo Mitsui tie-up to crack Japanese wealth

ZURICH/TOKYO (Reuters) – UBS signed a joint venture deal with Sumitomo Mitsui Trust on Friday, aiming to crack a Japanese wealth management market where it has struggled to grow over the last 15 years. The deal, signed by the banks’ CEOs in Zurich, will create... More »

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Infineon to buy Cypress Semiconductors in 9 billion euro deal

FRANKFURT (Reuters) – Infineon has agreed to buy Cypress Semiconductors in a deal valuing the U.S. maker of microchips used in cars and electronic devices at 9 billion euros ($10.1 billion), including debt, the German company said on Monday. The cash offer of ... More »

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Architect I.M. Pei dies at age 102: New York Times

(Reuters) – I.M. Pei, whose modern designs and high-profile projects made him one of the best-known and most prolific architects of the 20th century, has died, the New York Times reported on Thursday. He was 102. Pei, whose portfolio included a controversial r... More »

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Factbox: Selected works of architect I.M. Pei

(Reuters) – I.M. Pei, whose modern designs and high-profile projects made him one of the best-known and most prolific architects of the 20th century, has died, the New York Times reported on Thursday. He was 102. Some of his better-known works included: * Nati... More »

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Private equity-led consortium to buy Inmarsat for $3.4 billion cash

(Reuters) – A private equity-led consortium on Monday agreed to buy British satellite operator Inmarsat for about $3.4 billion in cash, six months after Inmarsat rebuffed a slightly lower cash and stock bid from U.S. satellite group EchoStar. The consortium in... More »

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Uber could announce $3 billion deal with Careem early this week:…

(Reuters) – Uber Technologies Inc is set to offer over $3 billion to buy Dubai-based rival Careem Networks FZ, two sources familiar with the deal told Reuters. Uber’s offer could be unveiled during the early part of this week, a third source added. Uber will p... More »

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With eye on Deutsche-Commerzbank, EU sends too big to fail warning

BRUSSELS (Reuters) – Euro zone banking watchdogs said banks planning mergers should make sure they could be wound down in a crisis, a warning likely to resonate with executives seeking to merge German giants Deutsche Bank and Commerzbank. The two lenders confi... More »

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Nvidia nears deal to acquire Mellanox Technologies: source

NEW YORK (Reuters) – Chipmaker Nvidia Corp is nearing a deal to acquire peer Mellanox Technologies Ltd for more than $7 billion in cash, a person familiar with the matter said on Sunday. The deal would be Nvidia’s biggest-ever acquisition and boost its busines... More »

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Nvidia offers bid for Israeli chip firm Mellanox: report

TEL AVIV (Reuters) – Nvidia Corp has submitted an offer to buy Israeli chip designer Mellanox, the Calcalist financial news website said on Sunday. Nvidia is competing for Mellanox with Intel Corp, which has already offered $6 billion for the Israeli company, ... More »

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Tencent, Kakao among shortlisted bidders for South Korean gaming…

SEOUL (Reuters) – Chinese tech giant Tencent and South Korea’s biggest chat operator Kakao Corp are among five bidders shortlisted to buy South Korean gaming firm Nexon, the Korea Economic Daily newspaper reported on Monday. The newspaper said NXC Corp, the ho... More »

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Green Growth to launch hostile bid for pot producer Aphria

(Reuters) – U.S. cannabis retailer Green Growth Brands Ltd (GGB.CD) said on Thursday it would make a hostile takeover bid for Aphria Inc (APHA.TO) in an all-stock deal valuing the Canadian pot producer at C$2.8 billion ($2.06 billion). Several companies are lo... More »

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Zynga buys Empires & Puzzles gamemaker in largest deal to date

(This corrects paragraph 7 of December 20 story to say Zynga acquired a unit of Peak Games, and not the entire company. The error also appeared in an earlier version) By Vibhuti Sharma and Liana B. Baker (Reuters) – U.S. game software firm Zynga Inc (ZNGA.O) s... More »

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With eye on China, Germany tightens foreign investment rules

BERLIN (Reuters) – Germany agreed new rules on Wednesday to lower the threshold for screening and even blocking purchases of stakes in German firms by non-Europeans, in a move to fend off unwanted takeovers by Chinese investors in strategic areas. The decision... More »

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GSK slides after buying cancer firm Tesaro for hefty $5.1 billion

LONDON (Reuters) – GlaxoSmithKline has agreed to buy U.S. cancer specialist Tesaro for $5.1 billion, a costly investment to rebuild the pharmaceuticals business by new Chief Executive Emma Walmsley that unnerved investors. GSK has lagged rivals in recent years... More »

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Blackstone wins EU approval to buy Thomson Reuters unit

BRUSSELS (Reuters) – U.S. private equity firm Blackstone Group (BX.N) has secured EU antitrust approval to acquire a majority stake in Thomson Reuters’ (TRI.TO) Financial and Risk unit, the European Commission said on Monday. The EU enforcer said it did not se... More »

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France’s Atos boosts U.S. presence with Syntel acquisition

(Reuters) – French IT services company Atos (ATOS.PA) is boosting its North American operations with a $3.4 billion cash deal to buy Michigan-based IT services provider Syntel Inc (SYNT.O). Atos’ shares traded 7 percent lower by 1020 GMT on Monday on disappoin... More »

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Verint merger talks with Israel’s NSO Group terminated: source

TEL AVIV (Reuters) – Talks for U.S. software company Verint Systems to merge its security division with Israeli cyber surveillance firm NSO Group for about $1 billion have ended without a deal being reached, a source close to the negotiations said on Monday. T... More »

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PayU buys Israeli payment technology firm Zooz

TEL AVIV (Reuters) – Online payment company PayU, a subsidiary of Naspers (NPNJn.J), said on Monday it agreed to acquire Israeli payment technology provider Zooz to support its expansion in high-growth markets. PayU’s statement, which confirmed an earlier repo... More »

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Japan’s Takeda gains U.S. approval for $62 billion Shire buy

TOKYO (Reuters) – Takeda Pharmaceutical Co Ltd on Tuesday said it has received U.S. approval for its $62 billion acquisition of London-listed Shire Plc, taking the Japanese firm one step closer to its goal of becoming a global top 10 drugmaker. Takeda in a pre... More »

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Content-hungry bidders circle ‘Big Brother’ maker Endemol

FRANKFURT/LONDON (Reuters) – Several bidders, including Liberty Global, are preparing offers for TV production company Endemol Shine, maker of classic reality show ‘Big Brother’ and the dystopian ‘Black Mirror’ dramas, before an initial deadline next week. ITV... More »

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SocGen targets German growth with Commerzbank funds deal

PARIS (Reuters) – Societe Generale (SOGN.PA) will buy Commerzbank’s (CBKG.DE) derivatives and asset management businesses in a move the French bank said will boost its Lyxor funds division and raise its profile in Germany, the euro zone’s biggest economy. Stil... More »

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Australia’s Santos gets final sweetened $10.8 billion bid from…

(Reuters) – U.S.-based Harbour Energy made a final offer of $10.8 billion for Australia’s Santos Ltd (STO.AX) on Monday, hiking its bid for a fifth time in nine months after a steep rise in oil prices and potentially deterring any rival bids. Shares in the oil... More »

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Exclusive: HCA, KKR team up for Envision bid – sources

(Reuters) – U.S. hospital operator HCA Healthcare Inc (HCA.N) and private equity firm KKR & Co (KKR.N) have joined forces to make an offer for U.S. physician services provider Envision Healthcare Corp (EVHC.N), people familiar with the matter said on Friday. T... More »

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Nestle to pay $7.15 billion to Starbucks in coffee tie-up

ZURICH (Reuters) – Nestle will pay Starbucks $7.15 billion as part of a global coffee alliance in which the Swiss-based food giant is getting the rights to market the U.S. coffee company’s products around the world outside Starbucks’ coffee shops. Starbucks sa... More »

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Xerox says CEO, board to stay after agreement with Icahn, Deason…

(Reuters) – Xerox Corp (XRX.N) said on Thursday its current board and management team, which included Chief Executive Jeff Jacobson, will stay, after a settlement agreement it had reached with dissenting shareholders to oust them expired. Xerox had said on Tue... More »

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Weinstein Co selects Lantern Capital as winning bidder

(Reuters) – Private equity firm Lantern Capital is the winning bidder for substantially all the assets of the Weinstein Company, the TV and film studio that filed for bankruptcy after co-founder Harvey Weinstein was accused of sexual assault, the Weinstein Com... More »

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Marathon Petroleum to buy Andeavor for $23 billion

(Reuters) – Marathon Petroleum Corp said on Monday it would buy rival Andeavor for more than $23 billion to form a company that would leapfrog Valero Energy Corp as the largest U.S. refiner by capacity. The cash-and-stock deal values Andeavor at about $152 per... More »

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AT&T court fight with U.S. Justice Department heads into closing…

WASHINGTON (Reuters) – Lawyers for the U.S. Justice Department and AT&T (T.N) will give closing arguments on Monday in a trial to determine if the wireless giant, owner of pay TV provider DirecTV, will be allowed to buy movie and TV show maker Time Warner (TWX... More »

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T-Mobile, Sprint say $26 billion deal would give U.S. tech lead…

(Reuters) – T-Mobile US Inc (TMUS.O) and Sprint Corp (S.N) said on Sunday they had agreed to a $26 billion all-stock deal and believed they could win over skeptical regulators because the merger would create thousands of jobs and help the United States beat Ch... More »

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Deutsche Telekom sees T-Mobile-Sprint deal clearing anti-trust…

FRANKFURT (Reuters) – Deutsche Telekom (DTEGn.DE) CEO Tim Hoettges expressed confidence on Monday that the $26 billion takeover of Sprint Corp (S.N) by its U.S. unit T-Mobile US (TMUS.O) would clear anti-trust hurdles. Hoettges, speaking after the all-stock de... More »

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Sainsbury’s says Asda merger could result in some store sell-offs

LONDON (Reuters) – Sainsbury’s chief executive Mike Coupe said that it was possible that competition authorities would force some stores to be sold to allow the British supermarket chain’s proposed merger with Asda to go ahead. Sainsbury’s and Asda, the UK arm... More »

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SoftBank’s CEO clinches his biggest deal by letting go

(Reuters) – SoftBank Group Corp (9984.T) CEO Masayoshi Son has made a name for himself as the ultimate dealmaker, raising almost $100 billion for investments with his Vision Fund. Yet after four years of haggling, he has scored his biggest deal by simply letti... More »

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Deutsche Telekom leverage to increase on T-Mobile-Sprint deal

FRANKFURT (Reuters) – Deutsche Telekom (DTEGn.DE) said its leverage would increase beyond its target corridor as a result of the takeover by its unit T-Mobile US (TMUS.O) of Sprint Corp (S.N), but will return to the comfort zone in 2021. Deutsche Telekom’s adj... More »

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Carl Icahn sells Tropicana casinos in $1.85 billion deal

(Reuters) – Hedge fund manager Carl Icahn is cashing out of casino business Tropicana Entertainment Inc (TPCA.PK) in a deal selling most of its properties and operations for $1.85 billion, Icahn Enterprises and the companies involved said in statements on Mond... More »

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Goldman Sachs buys personal finance start-up Clarity Money

NEW YORK (Reuters) – Goldman Sachs Group Inc bought Clarity Money, a personal finance startup, to bolster its Marcus online lending business, it said Sunday. Buying Clarity Money, a free app that helps consumers manage their personal finances, is expected to a... More »

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Verifone to be taken private for $2.6 billion in cash

(Reuters) – Payments technology company Verifone Systems Inc on Monday agreed to be taken private by an investor group led by Francisco Partners for $2.58 billion in cash. Shares of the company, which makes point-of-sale payment devices, surged 52 percent in e... More »

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Alibaba to buy remaining shares in food delivery app Ele.me

(Reuters) – Chinese e-commerce giant Alibaba Group Holding Ltd said on Monday it would buy the remaining shares of Ele.me, a major platform in China’s food delivery market, as it competes with Tencent Holdings Ltd services for offline consumers. Alibaba and af... More »

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AT&T trial hears of consequences if Turner networks go dark

(Reuters) – Twelve percent of subscribers would quit their cable or satellite companies if Time Warner Inc’s (TWX.N) Turner networks were no longer available, a Massachusetts Institute of Technology marketing professor said on Thursday. John Hauser, who teache... More »

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Exchange operator CME Group to buy Britain’s NEX for $5.5 billion

LONDON (Reuters) – U.S. exchange operator CME Group has made a $5.5 billion offer to buy NEX Group to create a cross-border powerhouse for investors trading in the multi-trillion dollar foreign exchange and government debt markets. Shareholders in NEX, a finan... More »

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AT&T judge warns parties to hurry to make June 21 deadline

(Reuters) – U.S. judge Richard Leon on Wednesday warned attorneys for the Department of Justice and AT&T Inc to speed up the trial over the proposed merger of the large telecommunications company and Time Warner Inc, or risk missing the June 21 deadline to com... More »

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Broadcom promises on security, Qualcomm revamps board

FILE PHOTO: A sign to the campus offices of chip maker Broadcom Ltd is shown in Irvine, California, U.S., November 6, 2017. REUTERS/Mike Blake (Reuters) – Broadcom Ltd (AVGO.O) has promised not to sell critical national security assets to foreign buyers if its... More »

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Qualcomm asked U.S. security panel to delay shareholder meeting:…

The logo of Qualcomm is seen during the Mobile World Congress in Barcelona, Spain February 27, 2018. REUTERS/Yves Herman (Reuters) – Broadcom Ltd (AVGO.O) said on Monday Qualcomm Inc (QCOM.O) secretly requested an U.S. national security panel on Jan. 29 to sta... More »

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Broadcom return to the U.S. could be complete in mid-May: sources

FILE PHOTO: Broadcom Limited company logo is pictured on an office building in Rancho Bernardo, California May 12, 2016. REUTERS/Mike Blake/File Photo WASHINGTON (Reuters) – Singapore-based chipmaker Broadcom Ltd, which is seeking to buy rival Qualcomm Inc, pl... More »