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 Law Group, PC. Call our Cedar Rapids office at (319) 363-8199 to learn more about all the legal requirements needed in these transactions.
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 Law Group, PC, 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.
The FedEx Ground Package System Inc., which is part of Memphis, Tenn.-based FedEx Corporation, is now facing a federal lawsuit over allegations of discrimination against deaf and hard-of-hearing applicants and employees, The Wall Street Journal reported on October 10.
The Equal Employment Opportunity Commission (EEOC) accused the company of violating the Americans with Disabilities Act, which requires employers to provide reasonable accommodations for disabled job applicants and employees. The EEOC alleged that for over many years, the company failed to provide closed-captioned videos and American Sign Language interpretation during new-hire orientations, tours, staff consultations, and safety meetings.
Meanwhile, the company said it is adhering with the law and is ready to contest EEOC’s reportedly groundless accusations.
Allegations like this can tarnish the reputation of your business. When facing business accusations in Cedar Rapids, fortify your legal defenses by speaking with an attorney at Arenson Law Group, PC. Call us at (319) 363-8199 to learn more about how we can be of help.