By Giles Turner, Dinesh Nair and Eric NewcomerUber Technologies is in early talks to buy food-delivery company Deliveroo for several billion dollars, according to sources.A bid for London-based Deliveroo, last valued at more than $2bn (€1.7bn), would mark a major attempt by Uber to dominate the food-delivery business in Europe.An acquisition price is unknown. Any offer would need to be considerably above its latest valuation.The talks could fall apart, in part because Deliveroo and its investors have been reluctant to relinquish independence, sources said.Spokesmen at Deliveroo and Uber declined to comment.Although little-known in the crowded US market, which it has avoided, Deliveroo is ubiquitous in Europe’s capitals.The service is available in more than 200 cities on four continents.Shares in rival food delivery companies dropped yesterday. FTSE 100 company Just Eat dropped as much as 9% in early trading before closing down 34p, or 4.8%, at 674p.Uber chief executive Dara … [Read more...] about Uber opens talks to acquire food delivery firm Deliveroo
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Not long ago, a brash entrepreneur whose once-beloved consumer brand had fallen on hard times announced a plan to take his company private. Completing the transaction—the purchase of Dell Inc. for $25 billion by Michael Dell and Silver Lake Management LLC—required countless meetings with special committees, activist shareholders, investment banks, management consultants, and at least four law firms. There were competing offers to consider, and a lawsuit from Carl Icahn to contend with. It took Dell six months just to announce the deal and another nine to close it in 2013.On Aug. 7, Elon Musk, the chief executive officer of Tesla Inc., appeared to pull off the same trick with a single tweet: “Am considering taking Tesla private at $420. Funding Secured.” A buyout of Tesla at that price—almost 25 percent above where the stock was trading—would make the deal worth $82 billion. That’s more, after adjusting for inflation, than the record-setting … [Read more...] about Where’s the Money Coming From, Elon?
By April 25, 2018, 12:10 PM EDT Active money management is alive and well, at least at T. Rowe Price Group Inc.The firm attracted $11.3 billion in client cash in the first quarter, the biggest inflow in six years and the second biggest quarterly haul in the company’s history, spokesman Brian Lewbart said in an email. Its target-date retirement products collected $6 billion of that total, T. Rowe Price said in its first-quarter earnings report on Wednesday. The shares rose the most since July 2017.The Baltimore-based company has emphasized its stock-picking skills at a time when money has been flowing into funds that track indexes. The $51.7 billion T. Rowe Price Growth Stock Fund, the firm’s largest actively managed equity fund, beat 93 percent of rivals over the past five years, according to data compiled by Bloomberg. Its biggest holding by value is Amazon.com Inc.T. Rowe Price reported adjusted earnings per share of $1.74, beating the $1.68 estimate of analysts … [Read more...] about T. Rowe Price’s $11 Billion Take Shows Stock Pickers Aren’t Dead
By April 10, 2018, 5:00 PM EDT Updated on April 10, 2018, 11:03 PM EDT Indonesian billionaire brothers Michael Hartono and Budi Hartono, who built their fortunes by selling cigarettes and providing banking services, are now turning their focus on telecom.PT Sarana Menara Nusantara, backed by Hartonos’ Djarum Group, is open to acquisitions to consolidate its leadership position in the cellular tower business, according to Vice President Director Adam Gifari. Sarana has cash or cash equivalent of about 2.3 trillion rupiah ($167 million) for any purchase, he said.Indonesia’s rising number of smartphone users and the emergence of e-commerce unicorns such as PT Tokopedia and PT Go-Jek Indonesia are driving demand for high-speed data in the world’s fourth-most populous country. The archipelago lags countries such as China and India in tower density, offering growth opportunities for local companies. Sarana bought smaller rival PT Komet Infra Nusantara last … [Read more...] about Indonesian Billionaire Brothers Are Turning Their Focus on Telecom
Allocation Balanced fund seekers may want to consider taking a look at T. Rowe Price Personal Strategy Income PRSIX. PRSIX holds a Zacks Mutual Fund Rank of 3 (Hold), which is based on nine forecasting factors like size, cost, and past performance. Objective PRSIX is classified in the Allocation Balanced segment by Zacks, which is an area full of possibilities. Here, investors are able to get a good head start with diversified mutual funds, and play around with core holding options for a portfolio of funds. Allocation Balanced funds look to invest across a balance of asset types, like stocks, bonds, and cash, though including precious metals or commodities is not unusual; these funds are mostly categorized by their respective asset allocation. History of Fund/Manager T. Rowe Price is based in Baltimore, MD, and is the manager of PRSIX. The T. Rowe Price Personal Strategy Income made its debut in July of 1994 and PRSIX has managed to accumulate roughly $1.91 billion in assets, as of … [Read more...] about Is T. Rowe Price Personal Strategy Income (PRSIX) a Strong Mutual Fund Pick Right Now?