Tag - Takeover
Video game developer Capcom may be left vulnerable to a stock buyout after shareholders failed to meet a majority number of votes to renew a takeover defense this week. Capcom first issued the takeover defense in 2008 to combat large-scale share purchases to gain a voice within the company. It was indicated that the company was looking to issue a renewal when it posted the 25-page plan in May.
Comcast is reportedly mulling a potential takeover bid for competitor Time Warner Cable, unnamed sources have told CNBC. Although Time Warner Cable is said to be considering various buyers, the company is claimed to favor a merger with Comcast if it finalizes the decision to sell.
On Monday, the Netflix board of directors instituted an anti-takeover plan designed to prevent investor and corporate raider Carl Icahn from growing his 10 percent stake in the company. Under the plan, Netflix stock owners will be allowed to acquire more stock if any investor acquires more than 10 percent of the company. The plan is designed to flood the market with shares and reduce the value of the stock making it too expensive for any individual investor to acquire enough stock to take control of the company.
Best Buy founder and ex-CEO Richard Shulze and at least four private equity firms have started reviewing the financial data of the beleaguered chain in the first steps toward would could wind up being a $11 billion buyout, according to people familiar with the matter. Schulze is negotiating with the equity firms to determine how much of his 20 percent stake in the company he would have to shell out in a bit and what role he would fill after the takeover.
Following the disclosure of HP's plan to acquire Palm, the struggling company's CEO, Jon Rubinstein, commended employees for their hard work and reminded the team to remain focused on existing goals, according to a company-wide e-mail posted on the Wall Street Journal. The CEO framed the move as a "huge step forward" in accelerating Palm's transformation strategy.
More questions were brought up about the sale of Yahoo at the Sun Valley conference being held this week in Idaho, says the New York Times. A table in a bar filled with the likes of Google co-founder Larry Page, Yahoo President Sue Decker, Legg Mason Capital Management's Bill Miller -- who is one of Yahoo's largest shareholders -- and former Yahoo chief Terry Semel has the media, investors and analysts speculating about the type of conversation taking place.
Now AAPL Stock: 94.02 ( -2.58 )
Remote S for Tesla Apple Watch app drives car out
Developer Allen Wong has created the Remote S for Tesla app, which can be used to remotely activate the Model S electric car via an Apple Watch, and drive it a short distance. Aside from providing data about the car and some basic function controls, the unofficial app uses the manufacturer's Summon command to allow the car to turn on, exit the garage, and park near to the user's location. The app is available to purchase from the App Store for $10. http://apple.co/1PprF4t
Seagate 3TB unreliability suit expands
The Seagate 3TB class-action hard drive lawsuit has been expanded to more devices. The expanded suit, filed today, now includes Seagate's Barracuda 3TB Hard Disk Drive, Desktop HDD 3TB, Backup Plus 3TB External Hard Disk Drive, GoFlex 3TB External Hard Disk Drive, or any other Seagate hard drive with model number ST3000DM001. The law firm, Hagens Berman, is seeking information from consumers such as time in service, purchase price, and the nature of any drive received in return from Seagate as a replacement for a failed unit. http://bit.ly/1Pc34Cq
BlackBerry Canada, Florida hit with layoffs
The BlackBerry campus has reportedly been wracked with layoffs. Sources familiar with the company's Waterloo office staffing claim that close to 35 percent of the local workforce has been laid off, with the deepest cuts being made in the BlackBerry 10 OS and hardware teams. Additionally, the state of Florida has been officially notified that the company's Sunrise facility will see 75 people fired. Enthusiast site Mobilesyrup puts the layoffs at around 1000 total. http://bit.ly/1Pc1Rep
Instagram tests multiple account support for iOS
Instagram is trialling support for multiple accounts in its iPhone app with a small number of users. The Facebook-owned photo sharing service confirmed the reports of the tests to TechCrunch, which will allow a single user to manage more than a single account within the app, transferring between two or three accounts with a few taps. It is unclear when the feature will roll out to the public, but it has previously tested it with the Android version of the app since November. http://tcrn.ch/1SPKEKh
Foxconn CEO declares Sharp deal near done
The Foxconn bid for Sharp is allegedly only waiting on specific details of the deal. Foxconn CEO Terry Gou has declared that his company has privileged negotiation rights for the Apple iPhone screen supplier, saying that "we have a consensus, the rest is a process ... I don't see a problem completing this process." Gou hopes the deal, worth up to $5.6 billion, will be formalized by the end of February. http://reut.rs/1SPEQjN
MIT demoes 'Eyeriss' AI chip for mobile
At the International Solid State Circuits Conference in San Francisco this week, MIT researchers presented a new chip designed specifically to implement neural networks. The researchers claim that "Eyeriss" is 10 times as efficient as a mobile GPU, so it could enable mobile devices to run artificial-intelligence algorithms such as Siri or Cortana, rather than uploading all data to a remote server for processing. http://bit.ly/1TISJBe
Pocket for iOS adds readability settings
Offline reader iOS app Pocket has updated, with reader-friendly changes. With the new revision, premium subscribers can adjust character spacing, and choose from eight new fonts including one that makes it easier for sufferers of dyslexia to read saved content. The app itself is free, with a premium subscription available for $5 a month, or $45 a year. http://apple.co/1KuILBl