The Strategist
Companies & CEOs

JM Smucker to pay $4B for baked goods maker Hostess - 09/12/2023

According The Wall Street Journal sources, US food producer J.M. Smucker Co. stated that it would pay $4 billion to acquire Hostess Brands, a maker of baked goods. The Smucker Company was founded in Ohio in 1897. The company's primary business segments are jam, syrup, and peanut butter manufacture. The producer also produces Jif peanut butter, Milk-Bone dog food, Folgers and Cafe Bustelo coffee....

British Virgin Media O2 to buy Internet provider Upp - 09/07/2023

The amount of the deal is still unknown. The multinational investment firm LetterOne, which is linked to Russian investors Petr Aven and Mikhail Fridman, has agreed to sell the local Internet service provider Upp to British telecom giant Virgin Media O2. LetterOne attempted to dispute the British government's decision to order the sale of regional Upp in December 2022 because to security...

Reuters: Arm to be valued at $50-54B in IPO - 09/05/2023

According to Reuters, which cited its own sources, Arm plans to set the opening price of its shares as part of the initial public offering on Nasdaq in the region of $47 to $51. As a result, the business will be valued at $50–54 billion, far less than earlier projections. Late in August, British microprocessor maker Arm, which is owned by Softbank of Japan, said that it had applied for a US...

Nikkei: Toyota to produce over 10 million cars in a year for the first time in 2023 - 08/31/2023

6.8 million of them will be produced overseas and 3.4 million will be made in Japan. For the first time ever, Toyota Motor Corporation will assewmble more than 10 million vehicles over the course of a year, reports Nikkei newspaper. The plan is set at a level of 10.2 million cars, as the company’s data suggests. Of them, 3.4 million cars will be made in Japan, and the remaining 6.8 million will...

Switzerland to probe UBS’s takeover of Credit Suisse - 08/29/2023

According to Patrik Ducrey, the organization's director, the Swiss Competition Commission (Weko) is reviewing the terms of UBS's acquisition of Credit Suisse. "We will present our position to the Financial Markets Supervisory Authority at the end of September," Ducrey stated. He made no mention of the specific antitrust laws that may have been broken. The price of Credit Suisse shares on the...

Evergrande shares fall by 80% after trading resumes - 08/28/2023

The company had previously submitted an application to start trading its shares again on the Hong Kong Stock Exchange on August 28. After nearly a year and a half without trading, shares of Evergrande, one of China's major real estate development businesses, have returned to the Hong Kong Stock Exchange with an 80% decline. During the morning session, Evergrande shares were down 87%, but...

Chevron LNG plant workers in Australia vote for strike - 08/25/2023

The protests are planned as demonstrations at two locations in Wheatstone and Gorgon. Two sites in Gorgon and Wheatstone that are owned by the Australian branch of the multinational oil and gas corporation Chevron received votes in favor of a strike, reports Reuters. Over 99% of the 433 workers who participated in the ballot backed the stoppage of production, according to a statement from the...

Cheniere Energy agree LNG supplies with German BASF - 08/23/2023

The gas business stated that the annual delivery might reach 800,000 tons. US gas giant Cheniere Energy signed a long-term deal to supply Germany's BASF with up to 800,000 tons of LNG per year starting in 2026. Cheniere Energy, Inc. stated that Cheniere's subsidiary, Cheniere Marketing, LLC, has signed a long-term sales and purchase deal with BASF for liquefied natural gas. The German company...

Arm files for IPO on Nasdaq - 08/23/2023

UK-based chip maker Arm has submitted a registration statement for an initial public offering (IPO) on the Nasdaq exchange. In a press release, Arm Holdings Limited ("Arm") stated that it has submitted a Form F-1 registration statement to the SEC regarding a planned initial public offering (IPO) of American Depositary Shares ("ADSs"), which represent its common stock. Arm has submitted an...

International investors are turning away from gold - 08/21/2023

The assets of gold exchange-traded funds have increased by at least 2.8 thousand tons since March 2020. Due to growing anticipation of further hikes in the Federal Reserve System's benchmark rate, interest in metals is dropping as US Treasury bond yields rise to multi-year highs. As a result, the price of gold decreased to a five-month low and stabilized around $1900 for a troy ounce. The...
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