Ferrero is back with a Sweet Acquisition

On January 16th  2018, Ferrero, announced that it will acquire the confectionery business of Nestle in the US for $2.8 billion. The deal makes Ferrero the third-biggest firm in the confectionery market in the US, according to Euromonitor. The unit acquired generated $900 million in sales during 2017 for the Swiss-based company. Ferrero will own … Continue reading Ferrero is back with a Sweet Acquisition

A new giant emerges in the oil services industry: the marriage of Baker Hughes with GE

General Electric and Baker Hughes reached a deal for the combination of their oil services business units. General electric will contribute its oil-and-gas business and pay $7.4 billion through a special dividend of $17.50 for each Baker Hughes share. The new company will be 62.5% owned by GE and 37.5% owned by Baker Hughes shareholders. … Continue reading A new giant emerges in the oil services industry: the marriage of Baker Hughes with GE

A SUBPRIME RENAISSANCE: CITIGROUP SELLS ONEMAIN TO SPRINGLEAF

Springleaf Holdings Inc. set to buy Citigroup Inc’s OneMain Financial Holdings for $4.25bn in cash, forming the largest subprime lender in the United States. Citigroup’s strategy to sell its non-core operations and focus on wealthier clients produces the combined entity with $15bn dollars in assets, 2000 branches, and a capacity to serve the growing subprime … Continue reading A SUBPRIME RENAISSANCE: CITIGROUP SELLS ONEMAIN TO SPRINGLEAF