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Arkansas Coffee Company to Go Public in Business Combination With Riverview
In a business combination with Riverview Acquisition Corp., Arkansas-based Westrock Coffee Holdings LLC announced in April that it will go public, launching an initial public offering at $10 per share.The transaction values the coffee, tea, and extracts company at about $1.1 billion and will deliver about $500 million in gross cash proceeds...
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Blackstone Announces $7.6 Billion Acquisition of PS Business Parks
Blackstone, the world’s largest real estate investor, intends to buy PS Business Parks for $7.6 billion, including debt, the company announced in late April. Blackstone said its real estate affiliates will pay $187.50 per share to PS Business Parks shareholders as part of the take-private deal, which is expected to close in the third quarter of this year...
Corporate America Showing Some Insecurity About Economy
Citing economic unknowns, some chief executive officers have limited guidance to investors on future results, fueling the stock market’s recent turbulence, according to Politico. Increasing inflation, housing market instability, the future of damaged supply chains, and the worry about pandemic recovery are undefined factors that have led CEOs to urge caution...
Will Apple Be the Pepsi to Tesla’s Coke?
While few would argue that traditional car companies have been overly concerned with the environment, fuel economy, or even technological innovation in the past, they certainly know how to hop on a trend when there are billions (or hundreds of billions) of dollars up for grabs...
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IMF Predicts Drop in Global Economic Growth
The International Monetary Fund (IMF) projects that global economic growth will decline nearly 1% this year, revising its World Economic Outlook downward for 86% of its 190 member countries. The drop from 4.4% to 3.6% is accompanied by an increase in expected inflation, caused mainly by Russia’s invasion of Ukraine...
Did Buffett Miss the Bitcoin Boat?
The past several years has seen the meteoritic rise, then fall, then rise again in prices of Bitcoin and countless (or at least practically uncountable) other cryptocurrencies. There are the widely known Ethereum, Litecoin, and Ripple; there are the more obscure cryptos, like KodakCoin...
Goldman Sachs Post-Pandemic Attendance Creeps Back, Slowly
Goldman Sachs employees are slowly returning to the office, though attendance is nearly 30% lower than it was before the COVID-19 pandemic, the investment bank’s Chief Executive Officer David Solomon told CNBC. Current attendance rates sit between 50% and 60% in the U.S., compared to a pre-COVID rate of 80%, Solomon said...
Blackstone Snags College Housing Leader for Nearly $13 Billion
Blackstone Inc. will buy university housing giant American Campus Communities for $12.8 billion in an all-cash transaction, the investment firm announced in mid-April. The per-share price of the deal is $65.47, nearly 14% higher than American Campus' last stock close prior to the agreement...
Natus Medical to Go Private After Acquisition
Following a $1.2 billion acquisition deal, Natus Medical will once again be a private company. After about 20 years as a publicly traded entity, the Wisconsin-based medical device and software company has agreed to a deal with ArchiMed, a French healthcare-focused private equity firm...
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Russian Invasion Increases U.S. Banks’ Commodities Trading Risk
U.S. banks are reporting increased risk in commodities trading following Russia’s invasion of Ukraine, but signs indicate that Wall Street is managing the fluctuations in asset values, according to first quarter earnings reports...
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Hertz Appoints Scott M. Haralson as Chief Financial Officer
Hertz Global Holdings, a prominent global rental car company, has announced the appointment of Scott M. Haralson as Chief Financial Officer. "His deep expertise in financial management and leveraging the capital markets to drive business transformation will be invaluable to Hertz as we rotate our fleet, deliver operational excellence, build greater cost discipline and undertake other key initiatives to improve our financial performance", stated Hertz CEO Gil West...
Navan Appoints Amy Butte as Chief Financial Officer
Navan, the comprehensive super app simplifying travel and expense management, announced the appointment of Amy Butte as Chief Financial Officer effective June, 2024. Butte, who joined Navan's Board of Directors in April 2024, has resigned from her role as Audit Committee Chair to assume this executive position...