McDonald’s selling all 850 of its restaurants in Russia
Last year, McDonald’s Russian operations contributed 9% of the company’s total annual sales, or around $2 billion.
Mergers & Acquisitions
Articles
Musk wars with Twitter over his buyout deal—on Twitter
The sharp turnaround by the world’s richest man makes little sense except as a method to scuttle or renegotiate a deal that’s becoming increasingly costly for him, experts said.
Indianapolis-based Resultant acquires Texas-based consulting firm
Indianapolis-based technology consulting and analytics firm Resultant has acquired Teknion Data Solutions, which is based in the Dallas metro area. It’s the fourth and largest acquisition Resultant has made in the past three years.
Musk hints at paying less for Twitter than his $44B offer
Tesla CEO Elon Musk told a Miami technology conference that a viable deal at a lower price would not be out of the question, according to a report by Bloomberg News.
JetBlue launches hostile takeover bid for Spirit Airlines
Analysts say a merger of any of the two carriers could create an airline with the scale and routes to more effectively compete with the nation’s four largest air carriers.
Musk says $44B Twitter acquisition ‘temporarily on hold’
Elon Musk’s concern about spam and fake accounts on the social media platform represents yet another twist amid signs of internal turmoil over the proposed acquisition.
Louisiana-based company acquires Indianapolis IT services firm
Indianapolis-based Accelerate Inc., a 27-year-old IT managed services provider, has been acquired by The Purple Guys, the companies announced Tuesday.
Duke Realty rejects $24B Prologis acquisition bid, deeming it ‘insufficient’
Prologis, one of the world’s largest real estate investment trusts, said it has been trying to acquire Indianapolis-based Duke since November. Duke said in a written statement issued Wednesday that those buyout efforts simply haven’t been good enough.
Prologis offers to acquire Duke Realty for nearly $24 billion
In a public letter, Prologis CEO and co-founder Hamid Moghadam said his San Francisco-based company has been trying to acquire Indianapolis-based Duke quietly without luck since late November and decided to make the effort public.
Musk lines up $7.1B in investor financing for Twitter bid
The infusion adds heft to the Tesla chief’s offer and eases some of the financial pressure he’s taken on in pursuit of the social media platform.
KAR’s $2.2B ADESA sale expected to close within days
The sale of ADESA to Arizona-based Carvana, which KAR announced in February, is part of KAR’s ongoing shift away from physical auto auctions toward digital platforms and tools.
Home improvement firm New Bath Today acquired by Atlanta firm
Brothers Mike and Ryan Redman started Indianapolis-based New Bath Today as a spinoff of their contracting business in 2016 and it has been growing quickly ever since.
Penske Automotive acquires Terry Lee dealerships in Noblesville
The acquisitions of Terry Lee Hyundai and Terry Lee Genesis closed on Tuesday. Lee, who has owned car dealerships since 1995, said the sale marked his departure from the automotive sales business.
Spirit Airlines rejects JetBlue’s $3.6B bid, citing concerns over federal approval
The board of Spirit Airlines said it would continue to pursue a merger with Frontier Airlines.
First Internet Bank’s acquisition deal with Georgia bank terminated
First Internet announced in November that it planned to acquire Georgia-based First Century Bank for about $80 million. But when it became necessary to extend the closing date, the parties couldn’t agree on extension terms.
Elon Musk spoke of possible Twitter job cuts with bankers
Musk also brought up several ideas to boost revenue for the company, such as paying “influencers” to create content, following a business model that helped make TikTok a powerhouse social media app.
Home furnishings retailer plans to turn DeHaan estate into giant showroom, restaurant
National retailer RH is teaming with a developer to take over Linden House—the 152-acre Indianapolis estate of late businesswoman and philanthropist Christel DeHaan—and turn it into a huge home furnishings showroom, interior design gallery, upscale restaurant, wine bar and outdoor furniture gallery.
UPDATE: Elon Musk buying Twitter for $44B, plans to privatize company
The outspoken Tesla CEO, who is also the world’s wealthiest person, has said he wanted to buy and privatize Twitter because he thinks it’s not living up to its potential as a platform for free speech.
Indiana life sciences companies landed $15B in funding in 2021
The funding included 39 Indiana life-science companies raising $433.5 million last year in venture capital, an increase of almost $200 million compared to 2020, according to a report issued by BioCrossroads.
Report: Simon Property, Brookfield offer to buy Kohl’s for more than $8.6B
Indianapolis-based Simon and Brookfield, which together bought rival department-store chain J.C. Penney Co. out of bankruptcy, have offered $68 a share for Kohl’s, according to people with knowledge of the talks.