February 19, 2014 |
In a surprise announcement, the financially troubled Corcoran Gallery of Art in Washington has entered into an agreement to be taken over by the National Gallery of Art and George Washington University. The deal, announced on Wednesday, would mark the largest takeover of an arts institution in the nation's capital in recent memory. The Corcoran, which is a private, nonprofit organization, has experienced financial difficulties for years and had recently explored a potential partnership with the University of Maryland.
February 14, 2014 |
Comcast Corp. already produces movies, television shows and national and local news programs while operating theme parks and the largest pay-TV system in the U.S. And now, with one bold stroke, the Philadelphia conglomerate could dominate the flow of information and entertainment into American homes with historically unprecedented power. Comcast's proposed $45.2-billion takeover of Time Warner Cable would allow it to provide television, telephone and Internet service and even home security systems to nearly 30 million homes across the country. ON LOCATION: Where the cameras roll The company's reach would encompass the nation's largest markets, among them Los Angeles, New York, Chicago, Philadelphia, Washington D.C. and San Francisco.
December 23, 2013 |
Jos. A. Bank announced Monday it has rejected a late November takeover bid from rival Men's Wearhouse, saying the offer undervalued the company. "Our board undertook a thorough review and determined that the per share consideration in the proposal made to us by Men's Wearhouse was simply not in the best interest of our shareholders," said Robert N. Wildrick, Jos. A. Bank's chairman. The two retailers have in the past months been playing a game of cat-and-mouse as each company has tried to acquire the other.
November 19, 2013 |
USC is taking over the Pacific Asia Museum in Pasadena, bringing more than 15,000 works of Asian art dating from ancient times to today under the university's control, along with the nearly 90-year-old replica of a Chinese palace that houses the museum. USC and museum officials described the new relationship as an “alliance” and a “partnership” in a written announcement Monday, but Robert Cooper, the university's vice provost, said in an interview that the existing independent nonprofit board that runs the museum will cede full control to the university starting next month.
October 9, 2013 |
Men's Wearhouse Inc. has a suitor who wants to pay $2.3 billion to take over the retailer, but the menswear company is having none of it. Saying that the bid from Jos. A. Bank Clothiers Inc. “significantly undervalues” the chain, Men's Wearhouse rejected the nonbinding proposal Wednesday. Hampstead, Md,-based Jos. A. Bank said in a statement that it had made its offer on Sept, 18, several months after Men's Wearhouse removed its founder and longtime spokesman, George Zimmer, as executive chairman.
October 7, 2013 |
BlackBerry shares are up about 3.6% thanks to a report that says several major tech players are interested in buying parts or all of the struggling Canadian phone maker. Google, Samsung, Cisco, Intel, SAP and LG are all among the tech companies interested in buying up BlackBerry, according to Reuters . Citing unnamed sources, Reuters said any deals involving the companies listed above would be alternatives to the preliminary agreement BlackBerry already has in place with Fairfax Financial Holdings, which is willing to pay $4.7 billion for all of BlackBerry.