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$SWK has agreed to acquire the Tools business of Newell Brands, which includes the Irwin and Lenox brands, for $1.95Bil in cash. The deal, subject to approvals, is expected to close in 1H17. The company expects to fund the acquisition with a combination of available cash and debt. $SWK expects annual cost synergies of about $80-90MM by year three.
$GOOG’s Waymo accuses Uber of stealing its intellectual property. Startup Otto, which was recently acquired by Uber, also named in the lawsuit. Stage set for another dramatic legal battle!
We all knew $VALE CEO Murilo Ferreira was going out soon, but now I hear he has no idea who will succeed him!
$JCP, another traditional retailer that just shocked us with its biggest number of store closures.