Showing posts with label company. Show all posts
Showing posts with label company. Show all posts

18 February 2017

Kraft still hungry for Unilever after rejected offer

In this March 2, 2011, file photo, Heinz ketchup bottles are displayed on the shelf of a market on in Barre, Vt. U.S. food giant Kraft Heinz Co. says its offer to buy Europe’s Unilever was rejected, but that it is still pursuing the deal. The maker of Oscar Mayer meats, Jell-O pudding and Velveeta cheese said there’s no certainty that it will make another offer for Unilever, which owns brands including Hellmann’s, Lipton and Knorr.
Kraft Heinz is attempting to buy Unilever in a $143 billion deal that would join the U.S. maker of cheeses and lunch meats with the European producer of mayo, teas and seasonings in a global powerhouse.
Unilever rejected the approach and called the price too low, while Kraft Heinz says it's still interested in a deal. The shares of both companies surged to new highs as investors saw prospects for cost cutting.

24 January 2017

Federal judge swats Aetna-Humana insurer combo

This Tuesday, Aug. 19, 2014, file photo, shows signage in front of Aetna Inc.'s headquarters in Hartford, Conn. A federal judge has rejected health insurer Aetna’s plan to buy rival Humana for about $34 billion and become a major player in the market for Medicare Advantage coverage. U.S. District Judge John Bates said in an opinion filed Monday, Jan. 23, 2017, that he largely agrees with federal regulators who contended that such a combination would hurt competition.
A federal judge has rejected health insurer Aetna's bid to buy rival Humana on grounds that the deal would hurt competition in hundreds of Medicare Advantage markets, ultimately affecting the price consumers pay for coverage.
U.S. District Judge John Bates said in an opinion filed Monday that federal regulation would probably be "insufficient to prevent the merged firm from raising prices or reducing benefits," and neither new competitors nor an Aetna plan to sell some of the combined company's business to another insurer, Molina Healthcare Inc., would be enough to ease competitive concerns.

26 January 2016

Twitter parts with 4 key execs in latest sign of turmoil

This Friday, Oct. 18, 2013, file photo, shows a Twitter app on an iPhone screen, in New York. Twitter says that four executives are leaving the company. Twitter CEO Jack Dorsey posted Monday, Jan. 25, 2016, that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil are exiting the company. Roetter served as senior vice president of engineering, Schipper was vice president of human resources, Stanton was vice president of social media and Weil was senior vice president of product.
Four of Twitter's key executives are leaving the company in an exodus that has escalated the uncertainty facing the messaging service as it struggles to broaden its audience and lure back disillusioned investors.

Twitter CEO Jack Dorsey announced the management shake-up late Sunday after technology news site Re/Code reported the changes earlier in the day.

Dorsey described the departures as voluntary, a characterization that three of the four exiting executives echoed in their own posts.