Blackstone Stake Sale Values MGM Grand, Mandalay Bay at $5.5 Billion

Blackstone Stake Sale Values MGM Grand, Mandalay Bay at .5 Billion

Blackstone Inc. has agreed to sell its 49.9% stake in two Las Vegas hotels in a deal that values the properties at $5.5 billion, marking one of the largest U.S. casino transactions this year. The New York investment firm is selling its stake in the MGM Grand Las Vegas and the Mandalay Bay to Vici … Read more

General Electric Sets Healthcare Division Spinoff Plans

General Electric Sets Healthcare Division Spinoff Plans

The planned spinoff of GE HealthCare Technologies is part of General Electric’s overall plan to split into three separate public companies. Photo: Charles Krupa/Associated Press Updated Nov. 30, 2022 9:03 pm ET General Electric Co. set the terms for the spinoff of its healthcare division, putting an initial value of roughly $31 billion on the … Read more

Tribe Property Technologies to Buy Strata Management Assets in Vancouver

Tribe Property Technologies to Buy Strata Management Assets in Vancouver

By Adriano Marchese Tribe Property Technologies Inc. has expanded its service delivery in British Columbia with the acquisition of a portfolio of assets from Warrington PCI Management. The Vancouver, British Columbia-based digital marketplace for community living said Tuesday that it has agreed to pay 375,000 Canadian dollars (US$278,758) for a portfolio of strata property management … Read more

Walgreens Unit to Buy Summit Health in Roughly $9 Billion Deal, Including Debt

Walgreens Unit to Buy Summit Health in Roughly  Billion Deal, Including Debt

A unit of Walgreens Boots Alliance Inc. WBA 3.67% struck a deal to combine with a big owner of medical practices and urgent-care centers in a transaction worth roughly $9 billion including debt, the latest in a string of acquisitions by big consumer-focused companies aiming to delve deeper into medical care. The drugstore giant’s primary-care-center … Read more

U.S., Allies Set Parameters for Price Cap on Russian Oil

U.S., Allies Set Parameters for Price Cap on Russian Oil

WASHINGTON—The U.S. and its allies have agreed on which sales of Russian oil will be subject to a price cap, racing to flesh out the details of the major new sanctions program before it begins on Dec. 5. Each load of seaborne Russian oil will only be subject to the price cap through its first … Read more

Warner Bros. Discovery Marriage Hurt by High Debt, Low Morale

Warner Bros. Discovery Marriage Hurt by High Debt, Low Morale

David Zaslav declared it a “bright shiny day’’ after the deal to merge his cable programming juggernaut Discovery Inc. with AT&T Inc.’s T 0.44% WarnerMedia unit closed last April. As of Wednesday’s close, the stock was down about 48% since the deal closed on April 8, and the company disclosed it expects to incur as … Read more

‘Oh my gosh, why am I not in the market?’ This forecaster says investors will be shocked by what’s about to happen next

‘Oh my gosh, why am I not in the market?’ This forecaster says investors will be shocked by what’s about to happen next

Slower, but higher rates and no pivot this side of Christmas. That was the message from Fed Chairman Jerome Powell after the central bank’s fourth-straight jumbo hike. Bruised investors look ready to keep selling stocks on Thursday as yields tear higher. Not everyone agrees with Powell. “The Fed is making a huge policy error, and they will manage to break … Read more

Penguin Seeks Simon & Schuster’s Support to Fight for Imperiled Book Merger

Penguin Seeks Simon & Schuster’s Support to Fight for Imperiled Book Merger

Book-publishing giant Penguin Random House wants to appeal a federal judge’s decision blocking its acquisition of Simon & Schuster, but the first step is to ensure its would-be deal partner stays in the legal fight. Penguin parent Bertelsmann SE has had talks with Simon & Schuster owner Paramount Global PARA -12.42% about offering inducements, including … Read more

The Celebrities Leaving Twitter After Elon Musk’s Takeover: See the List

The Celebrities Leaving Twitter After Elon Musk’s Takeover: See the List

Now that Elon Musk owns Twitter Inc., a small but growing number of celebrities, actors and artists say they are ditching the social-media platform over fears of what it could become under Mr. Musk’s leadership. These users say they won’t wait to find out what kind of changes Mr. Musk implements. Even before he completed … Read more

J&J Agrees to Buy Medical-Device Maker Abiomed

J&J Agrees to Buy Medical-Device Maker Abiomed

Johnson & Johnson JNJ -0.48% said Tuesday it had agreed to buy heart-device maker Abiomed Inc. ABMD 50.13% in an all-cash deal that would be valued at $16.6 billion upfront including cash. Under the terms, J&J agreed to pay $380 a share upfront, and would pay an additional $35 a share if certain milestones are … Read more