acquisition

CVC Capital Partners and Canada Pension Plan Investment Board are exploring a sale or initial public offering of Petco that could value it at $6 billion, including debt, Bloomberg News reported Wednesday. The firms are interviewing potential advisers while reviewing strategic options, with formal efforts around a sale or IPO not expected to kick off …

LVMH just left Tiffany at the altar. The French luxury conglomerate said Wednesday that it’s walking away from its $16.2 billion takeover of the storied New York jeweler — but Tiffany said it’s suing to keep the deal intact. In a statement, LVMH said the French government told it in a letter to wait until …

Fanatics, which runs the sports merchandising for all the pro sports leagues, has just acquired the largest maker of college sports caps in a deal that’s saved 200 jobs from the coronavirus pandemic. The Jacksonville, Fla., firm said Tuesday it has purchased the cap-making operations of Top of the World, a $100 million company that …

Carl Icahn has been squabbling with a former protégé in negotiations to sell a truck-making giant — and investors fret that the tiff could land the deal in a ditch. The 84-year-old billionaire is squaring off against Mark Rachesky — a hard-charging financier who worked for him for six years in the 1990s — over …

Billionaire activist hedge manager Bill Ackman has offered to take Airbnb public through his $4 billion blank-check company, but the company’s CEO Brian Chesky is reportedly holding out for a more traditional IPO process. Chesky hasn’t completely ruled out a merger with Ackman’s Pershing Square Tontine Holdings, but no further discussions are underway, Bloomberg reported …

AT&T’s Chief Executive Officer John Stankey continues to look to slim down the telecom and entertainment giant as the coronavirus slams its businesses. The telecom company that also owns HBO is in early talks to sell a digital advertising unit that it bought for $1.6 billion in 2018, The Wall Street Journal said, adding that …

South Korean prosecutors on Tuesday indicted Samsung heir Lee Jae-yong on charges of stock price manipulation and other financial crimes, setting up what could be a protracted legal battle to determine whether the 52-year-old billionaire illegally cemented his control over the business giant. Lee’s attorneys denied the charges, which were also filed against 10 other …

AMC Entertainment, the largest movie theater chain in the US, is selling off nine cinemas in the Baltic region as the coronavirus crushes sales. The company on Monday announced that it has signed a deal to sell nine venues across Latvia, Lithuania and Estonia, to Up Invest, owners of a Baltic cinema group, for $77 …

Telecom giant AT&T may be trying to unload struggling satellite TV provider DirecTV, but shareholders shouldn’t expect a sale anytime soon, one prominent analyst warned. AT&T has “overvalued” the “albatross” that is DirecTV, leading to skepticism that suitors circling the assets will actually reach a deal, Craig Moffett of MoffettNathanson said on Monday. Moffett said …

Speedway gas station owner Marathon Petroleum has agreed to sell the chain to 7-Eleven’s parent company. Seven & i Holdings, the Japanese retail group which owns the popular convenience store, will pay $21 billion for Speedway. The acquisition will see 7-Eleven add nearly 4,000 stores, and bring its total number of stores in the US …