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2/17/2021: What’s Going On

Amazon, Nestle and more from around the business world.
(Benny Marty)
(Benny Marty)
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A New York hedge fund that is the largest shareholder in Tribune Publishing Co. has reached a deal to acquire the rest of the newspaper company which owns some of the biggest papers in the country, including the Chicago Tribune and New York Daily News. Alden Global Capital LLC, which already owned a 32% stake in the company, reached an agreement with a special committee appointed by the board to buy the rest of the company for $17.25 a share, valuing the company at around $630 million. The deal still requires shareholder approval. If the deal is approved, the company would no longer be publicly traded.

After raising $690 million from SoftBank in December to make acquisitions, the Sweden-based cloud communications company Sinch has followed through on its strategy in that department. Today the company announced that it is acquiring Inteliquent, an interconnection provider for voice communications in the U.S. currently owned by private equity firm GTCR, for $1.14 billion in cash. And to finance the deal, Sinch said it has raised financing totaling SEK8.2 billion — $986 million — from Handelsbanken and Danske Bank, along with other facilities it had in place.

“Salesforce and Slack disclosed on Tuesday that the Department of Justice has opened an in-depth review of their $27.7 billion tie-up, first announced in December. DOJ has been investigating the deal under the legally-required merger review process but the next phase of its probe is discretionary and indicates that investigators may raise an issue with the deal.”

Companies Raising Capital
NameAmountDescription
TigerGraph$105 MillionEnterprise Startup Providing A Graph Database And Analytics Platform
SeedFi$65 MillionFinancial Product Targeted Toward Helping Users Build Credit, Save Money And Plan For The Future
vArmour$58 MillionProviding Ways To Manage In Real Time And Ultimately Secure How Applications Run In Fragmented Environments
Fictiv$35 MillionA Platform For Those Wanting To Design And Manufacture Items
Peak AI$21 MillionHelps Companies Make Better, AI-Base Evaluations And Decisions

“Amazon on Tuesday confirmed that it had acquired Australian e-commerce company, Selz, a Shopify competitor that helps small businesses open their own online shops.”

“Chinese cinemas racked up record box-office revenues during the week-long Lunar New Year holiday, as coronavirus travel curbs compelled millions to forego visits home during what is usually the world’s biggest annual domestic migration.”

““Fortnite” game developer Epic Games Inc. has filed an antitrust complaint against Apple Inc. in the European Union, broadening its continuing legal battle after filing similar lawsuits in the U.S., Australia and the U.K.”

“Nestle SA agreed to sell most of its North American bottled-water brands, including Poland Spring, Arrowhead and Pure Life, for $4.3 billion, hoping to jump-start growth by focusing on a slimmed-down group of upscale, more on-trend brands.”

“New York’s attorney general has filed a lawsuit against Amazon.com Inc. that accuses the online retailer of not doing enough to protect workers in the state from the coronavirus.”

“An online-trading startup that aims to let people wager on questions about future events ranging from economics to the weather to public health has raised $30 million from an array of prominent investors including venture firm Sequoia Capital and discount-brokerage pioneer Charles R. “Chuck” Schwab.”

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