Posted on Thursday, November 20th, 2014 at 6:33 pm
Yahoo Chief Executive Marissa Mayer announced the company’s bid for acquisition of video advertising company BrightRoll, The New York Times reported on November 11.
According to the report, Yahoo plans to purchase the video servicing company for $640 million in cash. Mayer said that the acquisition would further strengthen Yahoo’s position in the video advertising business, as the company has fallen behind competitors Google and Facebook in recent years. This is the second largest acquisition Yahoo has taken since Mayer took over as CEO in 2012.
BrightRoll, a video ad platform that programmatically delivers video ad across many sites, is expected to earn more than $100 million this year.
Acquisitions are designed to accelerate business growth and to build up market foothold against competitors. If you are considering engaging in an acquisition deal, seek the representation of our business law attorneys at Arenson & Maas, PLC. Call our Cedar Rapids office at (319) 363-8199 to learn more about all the legal requirements needed in these transactions.
Posted on Thursday, October 30th, 2014 at 6:04 pm
U.S. drug company AbbVie is aborting its plan to acquire Irish pharmaceutical company Shire for $55 billion due to the U.S. Department of Treasury’s regulatory changes aimed at limiting the amount of businesses changing locations for lower business tax rates, Reuters reported on October 20.
Abbvie dropped its multi-billion dollar bid for Shire after its board of directors decided that the transaction will no longer be beneficial for the company. AbbVie’s Chief Executive, Richard Gonzales, said the amendments made by the Treasury “created an environment of risk and uncertainty” that would make the acquisition unfavorable for stakeholders.
The Chicago-based pharmaceutical company will pay a $1.64 billion breakup fee for deciding to withdraw from the deal.
Legislative changes may directly impact business transactions you are planning to undertake. Our team of Cedar Rapids business law attorneys at Arenson & Maas, PLC, is always abreast with the current business law issues that may affect your business endeavors. Call us at (319) 363-8199 today to discuss your legal needs.
Posted on Monday, October 27th, 2014 at 5:04 pm
Auto dealers throughout Cedar Rapids have been receiving calls from owners concerned that their vehicle could be equipped with defective Takata airbags. Recently, the National Highway Traffic Safety Administration (NHTSA) expanded an existing recall of vehicles equipped with these potentially dangerous airbags, with the overall number of affected units now totaling 7.8 million. This figure is an increase from an original recall of 4.7 million vehicles. The specific danger with these airbags is that they may explode, forcibly expelling metal and plastic shards that can injure drivers and passengers.
The affected vehicles include a wide range of makes and models, spanning model years 2000-2008. However, as Dave Wright of Dave Wright Auto recently pointed out, if a person’s vehicle is listed in the recall, it doesn’t necessarily mean that it is equipped with the defective airbags. Owners are advised to call their local dealership and provide them with the VIN so they can determine whether or not it is specifically included in the recall.
Right now, companies are sending out letters to owners affected by this safety concern, and are coming up with a plan for how to best address the service needs of these vehicles. According to the NHTSA, vehicles that are in areas with high temperatures and high humidity are most at risk for the dangers posed by these airbags, and vehicle owners in such locations should take action to address the recall as soon as possible.