Tag: Buyout

Air Canada slashes Transat buyout price by nearly 75% as COVID-19 hits traffic

(Reuters) – Air Canada <AC.TO> has slashed its price to buy Canadian tour operator Transat A.T. Inc <TRZ.TO>, with the deal now worth about C$188.7 million ($143.86 million), down from C$720 million, as COVID-19 weighs on travel demand, the companies said in a statement on Saturday.

The country’s largest carrier had secured Transat shareholders’ approval for the deal last year with an C$18.00 a share bid, to bolster its then thriving leisure business.

But with the pandemic grounding flights globally, Air Canada faced shareholder pressure to renegotiate the deal which is still pending approval from European and Canadian regulators, Reuters reported in May.

Montreal-based Air Canada, like many of its global peers, has slashed flights, suspended financial forecasts and sought government aid as the industry deals with its worst slump.

Companies have been cancelling deals amid COVID-19 uncertainty, with aircraft parts suppliers Hexcel Corp <HXL.N> and Woodward Inc <WWD.O> abandoning

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WSJ Wealth Adviser Briefing: Exxon Turbo Boost, Tech Buyout Fantasies, Stashing Cash

Michael Nathanson, chairman and CEO of the independent wealth management firm Colony Group, told Barron’s that robo-advisers have a role to play in serving certain client segments. As for the industry’s continued shift toward client-centric wealth management advice and away from the investment-only models of the past, I think the shift can’t be completed quickly enough.

Does the evolution in the industry come down to financial advisers doing a better job embracing new technologies? We must all do so, but simply committing ourselves to using more and better technology isn’t committing ourselves to meaningful, evolutionary changes. In fact, it may merely be masking the need for such changes.

Below, some of the best analysis and insight from WSJ writers and columnists, the Dow Jones Newswires team and occasionally beyond, on investing, the wealth-management business and more.

ELECTION

Where Trump and Biden Stand on Mortgage Finance: The incumbent administration eyes

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Big Tech Buyout Fantasies May Be on Hold

Freezing out deal making by withholding approvals may be more politically feasible than breaking up tech giants. Amazon CEO Jeff Bezos speaking to Congress in July.



Photo:

Graeme Jennings/Associated Press

While much remains uncertain about the federal government’s ambitious case against big tech, at least one outcome seems highly likely: Tech giants won’t be able to buy their way to growth anytime soon.

Late Tuesday saw the release of the much-awaited report from the Democratic staff of the House Antitrust Subcommittee following a 16-month investigation into

Apple Inc.,

Amazon.com,


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and

Alphabet Inc.’s

Google. As expected, the 449-page report was highly critical of the market power amassed by the four tech giants whose combined market value still tops $5 trillion, even after the market’s sharp selloff over the last month. It also advanced the argument for breaking the companies up, calling for “structural separation and

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