The future of Yahoo may be decided as soon as this week after Verizon has offered $5 billion for Yahoo core assets after beating out rival bidders including AT&T. That means the microblogging and social networking site Tumblr and the video advertising platform BrightRoll will soon join AOL under one parent company. As always, you can monitor the development of this news and other events discussed by the financial crowd right here on Sentifi.
1/ Verizon: Makes a deal for Yahoo
Monday will see the official announcement from Verizon regarding its takeover offer for Yahoo’s core business. And the offer will be worth $5 billion. The deal will further cement Verizon’s position as a digital stakeholder to stay competitive against the likes of Facebook and Google.
2/ Yahoo: The struggles may be coming to an end
The deal from Verizon is a lifesaver for Yahoo as it will put an end to the company’s struggles. The deal will leave Yahoo with its stakes in Alibaba Group Holding Ltd. and Yahoo Japan Corp with a total market value of $40 billion. It is still unclear whether Marissa Mayer will stay with the company, but if she chooses to leave, she will take off with a $55 million severance package.
3/ Uranium: North Korea possess uranium enrichment plants
The U.S. Institute for Science and International Security has identified several preliminary uranium enrichment plants in North Korea, nullifying the country’s denial of their existence.
4/ SolarCity Corp: Inches closer to a merger with Tesla
The final round of merger talks between SolarCity and Tesla is approaching its end as the due diligence process is in its final stages, signifying a deal could be reached in the coming days. The $2.8 billion deal will bring the two companies together as a one-stop clear energy shop for solar panels, home battery storage and electric cars.
5/ Jet Airways (India): Introduces new pricing structure
India’s second largest airline is rolling out a new ticket price structure to offer more choices to the customers as it’s trying to stay ahead of its competitor Air India. Eight new “Fare Choices” across economy and premier class will be offered.
6/ Pacific Investment Management Company: Allianz wants stronger ties with Pimco
Allianz’s Asset Management Chief Jackie Hunt sees a need for a closer relationship with U.S. asset management business Pimco to stay competitive in the current global economy. Pimco recently appointed Manny Roman as the new CEO.
7/ William Hill: Soon to receive a bid from rivals
Betting firm William Hill is having a tough time as its failure to capitalize on the growing online betting market has caused it to struggle to the point where it ousted its CEO James Henderson. Now, its rival 888 and Rank announced a consortium to make a £3 billion joint bid for its business.
8/ Dell: Takes the opposite approach from its rival HP
“You get an unbelievably strong position when you put Dell and EMC together in that very important, growing space.”
Dell founder and CEO Michael Dell
Same problem but two solutions. That can describe how rivals Dell and HP tackle the slowdown in the global economy, as Dell is betting on bulking up with the acquisition of EMC, while HP is splitting into two smaller and nimble businesses. Speaking of the acquisition, 98% of EMC shareholders voted to approve the sale to Dell.
9/ Allianz: Comsiders Brexit an opportunity for the EU
Chief Economist Michael Heise of Allianz defies the Brexit woes and declares it’s an opportunity for the EU to be a closer group and there’s no reason for exaggerated economic skepticism. That said, he advocates the EU must be flexible and resistant and needs to focus on inspiring people for Project Europe.
10/ Rank Group: Announces two partnerships
Rank has agreed to a partnership with Swedish online gambling developer NetEnt to further NetEnt’s growth in the U.K. market. Moreover, Rank has also announced a partnership with 888 to make a joint bid for their struggling rival William Hill.
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