I've been a business reporter for a while. I've covered Wall Street, venture capital and now private equity. I'm always looking for a scoop or something to talk about. I'm the eternal optimist and am still waiting for the Chicago Cubs to win the World Series. Yes, I believe.
Fairfax Financial Holdings Ltd has offered to buy Toys "R" Us's Canadian stores out of bankruptcy for $300 million, the Wall Street Journal reported. The offer is subject to higher bids; the sale would also include Canadian business' intellectual property, including its brands, the story said.
1 min read · 23 April 2018
Walmart is close to completing its buy of Flipkart for at least $12 billion, Bloomberg is reporting. All the major investors in Flipkart Online Services Pvt are now on board with the Walmart purchase, the story said. Tiger Global Management is selling nearly all of its 20 percent stake in Flipkart, while SoftBank Group is unloading a substantial part of its holding, Bloomberg said. Walmart will likely end up with 60 percent to 80 percent of Flipkart, India’s leading ecommerce company.
1 min read · 23 April 2018
To start your morning, we have news that another royal baby is on the way, Firewatch developer Campo Santo is joining Valve and Mitt Romney fails to win the Republican nomination for senate.
1 min read · 23 April 2018
Fulcrum Capital Partners has acquired Athletica Sport Systems. Financial terms weren’t announced. Athletica, of Waterloo, Ontario, provides arena services and products, including dasher board systems for hockey arenas and multi-sport athletic facilities.
2 min read · 23 April 2018
The Stars Group Inc said April 21 that it agreed to buy Sky Betting & Gaming for $4.7 billion in cash and stock. The sellers are CVC Capital Partners and Sky plc. The deal includes $3.6 billion cash and the rest in stock. Sky Betting, of the U.K., is an online gaming company.
10 min read · 23 April 2018
Fastener Distribution Holdings, a portfolio company of Audax Private Equity, said April 20 that it acquired Blue Sky Industries. Financial terms weren’t announced. Blue Skye, of Monterey Park, California, distributes c-class parts to aerospace and defense MRO and OEM customers.
2 min read · 23 April 2018
Distributed Credit Chain said April 20 that Matthew Chang was appointed an adviser to the project. Chang is a managing director at KKR. Distributed Credit Chain, of Hong Kong, is a blockchain company developing a distributed banking public chain.
3 min read · 23 April 2018
ACON Investments has finalized its investment in True Value Co. Financial terms weren’t announced. True Value, of Chicago, is a national hardware wholesaler.
3 min read · 23 April 2018
Pivotal Software went public on the New York Stock Exchange Friday, April 20 after raising $555 million. Shares of Pivotal rose by 73 cents, or 4.87 percent, to close at $15.73 on volume of 24.7 million shares. Pivotal priced 37 million shares at $15 each. The enterprise software company is backed by Dell Technologies, EMC Corp, Silver Lake, General Electric, VMware and Ford Motor Corp, according to an SEC filing.
1 min read · 20 April 2018
Katherine Grass has joined Thayer Ventures as a venture partner. Grass most recently served as global head of innovation and ventures at Amadeus Group.
3 min read · 20 April 2018
