merger news
News stories: 1 - 8 of 8
Virgin Galactic merger brings commercial space travel (and space hotels) closer to reality
by Andy Knaggs | 16 Jul 2019
Virgin Galactic believes it has the necessary financial muscle to achieve commercialisation of its space tourism flights, after merging with investment partnership Social Capital Hedosophia (SCH). The transaction, which is due to complete during the second half of 2019, will deliver US$1.3bn (€1.16bn, £1.04bn) of equity to Virgin Galactic, made up of US$1bn (€890m, £800m) in common stock of the combined company (at US$10 per share) and up to US$300m
Schmidt Hammer Lassen join Perkins+Will in strategic partnership
by Kim Megson | 24 Jan 2018
One of Scandinavia’s best-known design studios, Schmidt Hammer Lassen Architects, have joined global firm Perkins+Will in a strategic partnership. In a joint statement, the two practices said the move will allow Perkins+Will to diversify its global talent, expand its cultural and civic practice and reinforce the caliber of its design portfolio, while Schmidt Hammer Lassen will be able to expand into new geographic markets, grow its client base, “and apply
Marriott and Starwood set to merge after green light from shareholders
by Jak Phillips | 08 Apr 2016
The on-again off-again merger of Starwood Hotels & Resorts and Marriott International looks set to go ahead after shareholders of both companies voted en masse for the proposed deal. Marriott's cash-and-stock acquisition of Starwood, valued at US$12.41bn as of Thursday (7 April), will create the world’s largest hotel company. Holders of more than 97 per cent of Marriott shares and 95 per cent of Starwood shares voted in favour of
Anbang withdraws offer to buy Starwood
by Jane Kitchen | 01 Apr 2016
The consortium lead by Anbang Insurance Group has withdrawn its proposal to acquire Starwood, paving the way for the Marriott/Starwood merger to move ahead. Anbang dropped its offer “as a result of market considerations” and does not intend to make another proposal, Starwood said in a statement. The statement also said that Starwood’s board of directors continues to unanimously support the existing merger with Marriott. A special meeting of Starwood
Starwood takeover saga continues: Anbang ups its offer
by Jane Kitchen | 29 Mar 2016
The Chinese consortium led by Anbang Insurance Group that is trying to buy Starwood has upped its offer, making it “reasonably likely to lead to a ‘Superior Proposal’ as defined in Starwood’s merger agreement with Marriott International,” Starwood said in a statement. Marriott agreed to buy Starwood in November 2015 for US$12.2bn, but a rival offer from Anbang on 18 March threatened the deal. Marriott then came back with a
Starwood plans to end Marriott merger deal after ‘superior’ offer from Anbang
by Jane Kitchen | 18 Mar 2016
Starwood has received a new bid from the Chinese consortium that wants to buy it and has notified Marriott of its intention to terminate the merger agreement it had with the rival hotel firm. The Chinese consortium, led by Anbang Insurance Group, has upped its bid by US$2.00 per share from its original proposal on 10 March, making its offer a “superior proposal” to Marriott’s. Marriott has until 28 March
Steiner Leisure to enter merger with private equity firm for US$925m
by Helen Andrews | 25 Aug 2015
Steiner Leisure has signed a definitive merger agreement under which an affiliate of private equity firm Catterton will acquire all of the outstanding shares of Steiner for US$65 (€56, £41) per share in cash. The total transaction value, including assumed net debt, is approximately US$925m (€799m, £599m). Steiner Leisure’s board of directors unanimously approved the merger on the recommendation of a special committee, comprised entirely of independent directors. The committee
Populous and Jump Studios announce merger
by Liz Terry | 02 Jun 2015
Sport and entertainment architects, Populous, have announced a merger with Jump Studios, a London-based practice which specialises in high-concept interiors, installations and architectural design. The merger was unveiled at a press conference in London on the evening of 1 June. Jump Studios were established in 2001 and specialise in retail, workspace, exhibition, brand experience, pop-up, restaurant and bar design. It has clients ranging from Nike and Levi Strauss to Red
News stories: 1 - 8 of 8
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