August 21, 2013 |
Rivals ShoeDazzle and JustFab, L.A. fashion websites that sell women's shoes, will merge after months of negotiations. The companies said the merger would create the world's largest fashion subscription e-commerce company, with more than $400 million in annual revenue and 33 million members. Financial details and other terms of the deal, announced Wednesday, were not disclosed. JustFab co-CEOs Adam Goldenberg and Don Ressler will keep their titles at the combined company, while ShoeDazzle CEO Brian Lee will become a member of the board of directors.
September 1, 2011 |
Recent notable cases in which the U.S. government has tried to stop a corporate merger: 1997: The Federal Trade Commission blocks the merger of office-supply superstore chains Staples Inc. and Office Depot Inc. 1998: The Justice Department sues to block Lockheed Martin Corp.'s $11.6-billion acquisition of aviation rival Northrop Grumman Corp. Four months later, Lockheed drops its bid. 2000: The $120-billion merger of long-distance telephone companies WorldCom Inc. and Sprint Corp.
July 12, 2013 |
A merger between US Airways and American Airlines, creating the nation's largest air carrier, has taken another step forward with the approval of a majority of US Airways shareholders. About 99% of US Airways Group shareholders who voted Friday supported the merger with American's parent company, AMR Corp. The vote was not surprising as it was US Airways that first proposed the merger after AMR Corp. filed for bankruptcy in 2011. "This approval is a major milestone on our path to completing the merger, and we continue to make excellent progress overall thanks to the focused efforts of the dedicated representatives from both companies," said Doug Parker, chairman and chief executive of US Airways and incoming chief executive of the combined company.
June 20, 2013 |
The proposed merger of American Airlines and US Airways would cut competition on more routes than previously thought, impacting more than 53 million fliers, according to a new federal study. Proponents of the merger have said in the past that the two airlines overlap on only 12 non-stop routes. But in the first detailed study of the merger's impacts, the U.S. Government Accountability Office said competition would be cut on 1,665 other routes with at least one stop. By comparison, the GAO study said the merger of United with Continental in 2010 eliminated a key competitor in 1,135 routes.
February 13, 2014 |
So will Comcast's roughly $45-billion merger with Time Warner Cable be good for consumers? To no one's surprise, Comcast Chief Executive Brian L. Roberts said Thursday that the answer is a resounding yes. Consumers will be the big winners here, he said. In Roberts' words, the merger would be "pro-consumer," "pro-competitive" and "in the public's interest. " But will it? The merger would allow Comcast to dominate the cable industry and to be the big dog in 19 of the nation's 20 largest pay-TV markets.
February 11, 2013 |
Merger talks between the parent company of American Airlines and US Airways continued Monday, with sources suggesting an announcement could be made later this week. The union of Fort Worth-based American and Phoenix-based US Airways would create the nation's largest airline, with a mainline fleet of nearly 1,000 planes. The boards of the two airlines are expected to meet in the next few days to vote on the proposed merger, sources have told Reuters News . According to the sources, US Airways Chief Executive Doug Parker would become CEO, while AMR Corp.' chief Tom Horton would serve as non-executive chairman of the board until next year.
January 24, 2013 |
Hanmi Financial Corp. of Los Angeles said its profit more than doubled to $14 million in the fourth quarter as regulators lifted 3-year-old orders requiring the parent of Hanmi Bank to raise more capital. The end of enforcement actions by state bank regulators and the Federal Reserve enables Hanmi, once the largest of the many Koreatown-based banks, to focus on arranging a financial marriage for itself, Chief Executive Jay S. Yoo said in announcing the earnings Thursday morning.
March 5, 2012 |
Kinecta Federal Credit Union of Manhattan Beach and NuVision Federal Credit Union of Huntington Beach have called off a plan to combine in one of the biggest mergers in the history of the industry. With roots deep in Southern California's aerospace industry, Kinecta and NuVision had been working on the merger for a year and a half. They had hoped their deal would close early this year, but said in a recent joint statement that in the tough current economy it would have taken them two more years to integrate their operations.
March 12, 2013 |
Defending its proposed merger with T-Mobile, MetroPCS on Tuesday urged its shareholders to approve the deal, which is under regulatory review. In a letter to shareholders , Roger D. Linquist, chief executive of MetroPCS Communications, Inc., called the low-cost wireless carrier's planned combination with T-Mobile USA Inc., announced last year, "the best strategic alternative for our stockholders. " Linquist's letter follows criticism of the proposal by two major shareholders: P. Schoenfeld Asset Management, a hedge fund leading a challenge against the transaction, and Paulson & Co., which owns 9.9% of MetroPCS stock.
June 19, 2011 |
The angst-ridden process of merging the two federal agencies that govern research and education on substance-abuse problems will drag on for another two years. Officials at the National Institute on Drug Abuse said Sunday that the opening of a new agency that will take the place of both the NIDA and the National Institute on Alcohol Abuse and Alcoholism, will likely occur in October 2013 instead of 2012. The merger was discussed Sunday at a meeting of the College on Problems of Drug Dependence.