India and the United States have allocated over $3 billion for India's acquisition of 31 MQ-9B drones, a major defense deal aimed at bolstering India's surveillance and strike capabilities. The MQ-9B, an advanced unmanned aerial system, is known for its extended endurance, high-altitude operations, and precision strike capabilities. Equipped with advanced sensors and armed payloads, these drones are expected to significantly enhance India's intelligence, surveillance, and reconnaissance (ISR) capabilities, particularly in key strategic areas such as the Indian Ocean region and along its borders. This acquisition strengthens the growing defense ties between the two nations and marks a significant step in India's military modernization efforts.

India-US: Over $3 Billion Allocated For Acquisition Of 31 MQ-9B Drones

Israeli cybersecurity startup Wiz has ended acquisition talks with Google-parent Alphabet. The deal, reportedly valued at 23 billion dollars, would have been alphabet's largest-ever acquisition. But what is the reason for this fallout? Take a look.

Israeli cybersecurity startup Wiz ends acquisition talks with Alphabet

<p class="MsoNormal"><o:p></o:p></p>

<p class="MsoNormal">Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector.<o:p></o:p></p>

<p class="MsoNormal">Led by billionaire Kerry Stokes and his family, Seven Group already commands nearly 72 per cent ownership of Boral. The offer, unveiled on Monday, aims to secure the remaining shares of the company. The proposed bid, valued at a minimum of approximately $4 per Boral share, comprises 0.1116 Seven Group shares and $0.98 in cash.<o:p></o:p></p>

<p class="MsoNormal">If successful, the deal would value Boral at $4.35 billion, representing a 3.4 per cent premium over its recent closing price. Seven Group's proposal surpasses any closing price Boral has seen since 2007, underscoring the seriousness of the bid.<o:p></o:p></p>

<p class="MsoNormal">Boral has strategically reshaped its operations over the past two years, focusing on bolstering its Australian building and industrial products segment to capitalise on the government's heightened infrastructure spending initiatives.<o:p></o:p></p>

<p class="MsoNormal">The company divested several international assets, redirecting its attention to domestic opportunities. This shift in strategy aligns with the broader trend of governments ramping up infrastructure investments. Boral's proactive measures have positioned it to benefit from this trend, making it an attractive target for acquisition.<o:p></o:p></p>

<p class="MsoNormal">Despite the enticing offer, Boral has advised its shareholders to refrain from immediate action regarding the takeover bid. The company emphasised that an independent board committee has been convened to evaluate the offer thoroughly.<o:p></o:p></p>

<p class="MsoNormal">This cautious approach underscores the significance of the decision for Boral and its stakeholders. Seven Group's persistent pursuit of Boral highlights the latter's perceived value in the market, but Boral's board is keen on ensuring that shareholders' interests are adequately represented and protected.<o:p></o:p></p>

<p class="MsoNormal">Seven Group's pursuit of Boral dates back to 2021 when it made several unsuccessful takeover attempts, citing the undervaluation of Boral's business. However, buoyed by record-low interest rates and robust domestic performance, Seven Group managed to accumulate a substantial stake in Boral within a short span.<o:p></o:p></p>

<p class="MsoNormal">The current offer represents a renewed effort by Seven Group to secure full control of Boral, leveraging its existing ownership stake. The potential for further increases in the offer demonstrates Seven Group's commitment to acquiring Boral at a fair value.<o:p></o:p></p>

<p class="MsoNormal">In response to the latest bid, Seven Group has signalled its flexibility by indicating a willingness to raise the offer under specific conditions. The company stated that it would increase its bid by an additional 10 Australian cents per share if it achieves an aggregate 80 per cent stake in Boral if Boral's board unanimously recommends the offer to its shareholders or both.<o:p></o:p></p>

<p class="MsoNormal">Furthermore, the offer could rise by another 10 cents if Seven Group's ownership stake reaches 90.6 per cent, crossing the compulsory acquisition threshold. However, Seven Group has set a limit on the maximum price it would pay for Boral shares for at least a year following the offer's closure. This provision reflects Seven Group's strategic approach to acquisition, balancing its pursuit of control with prudent financial management.<o:p></o:p></p>

<p class="MsoNormal"><i>(With inputs from Reuters)<o:p></o:p></i></p>


Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector.

Australian conglomerate Seven Group Holdings has made a substantial bid of $1.24 billion to acquire full control of Boral, a leading building products group, signalling a confident wager on the sustained growth of Australia's infrastructure sector. Led by billionaire Kerry Stokes and his family, Seven Group already commands nearly 72 per cent ownership of Boral. The offer, unveiled on Monday, aims to secure the remaining shares of the company. The proposed bid, valued at a minimum of approximately $4 per Boral share, comprises 0.1116 Seven Group shares and $0.98 in cash. If successful, the deal would value Boral at $4.35 billion, representing a 3.4 per cent premium over its recent closing price. Seven Group's proposal surpasses any closing price Boral has seen since 2007, underscoring the seriousness of the bid. Boral has strategically reshaped its operations over the past two years, focusing on bolstering its Australian building and industrial products segment to capitalise on the government's heightened infrastructure spending initiatives. The company divested several international assets, redirecting its attention to domestic opportunities. This shift in strategy aligns with the broader trend of governments ramping up infrastructure investments. Boral's proactive measures have positioned it to benefit from this trend, making it an attractive target for acquisition. Despite the enticing offer, Boral has advised its shareholders to refrain from immediate action regarding the takeover bid. The company emphasised that an independent board committee has been convened to evaluate the offer thoroughly. This cautious approach underscores the significance of the decision for Boral and its stakeholders. Seven Group's persistent pursuit of Boral highlights the latter's perceived value in the market, but Boral's board is keen on ensuring that shareholders' interests are adequately represented and protected. Seven Group's pursuit of Boral dates back to 2021 when it made several unsuccessful takeover attempts, citing the undervaluation of Boral's business. However, buoyed by record-low interest rates and robust domestic performance, Seven Group managed to accumulate a substantial stake in Boral within a short span. The current offer represents a renewed effort by Seven Group to secure full control of Boral, leveraging its existing ownership stake. The potential for further increases in the offer demonstrates Seven Group's commitment to acquiring Boral at a fair value. In response to the latest bid, Seven Group has signalled its flexibility by indicating a willingness to raise the offer under specific conditions. The company stated that it would increase its bid by an additional 10 Australian cents per share if it achieves an aggregate 80 per cent stake in Boral if Boral's board unanimously recommends the offer to its shareholders or both. Furthermore, the offer could rise by another 10 cents if Seven Group's ownership stake reaches 90.6 per cent, crossing the compulsory acquisition threshold. However, Seven Group has set a limit on the maximum price it would pay for Boral shares for at least a year following the offer's closure. This provision reflects Seven Group's strategic approach to acquisition, balancing its pursuit of control with prudent financial management. (With inputs from Reuters)

Seven Group Holdings makes a $1.24 billion bid for full control of Boral

<p>The UK launched a new investigation into Microsoft Corp.'s $69 billion acquisition of Activision Blizzard Inc. after the tech giant presented a significantly revised proposal to the country's antitrust agency, effectively reviving a transaction that had previously been believed to be dormant.</p>

<p><meta charset="utf-8" /></p>

<p dir="ltr"><meta charset="utf-8" /></p>

<p>In an unusual move, the Competition and Markets Authority stated that it was evaluating Microsoft's offer after it stated that it would transfer the rights to all existing and future Activision games published over the next 15 years to Ubisoft Entertainment SA. The European Economic Area is not included in the divestiture, according to the CMA.<br />
&nbsp;<br />
A CMA merger decision being reconsidered at this level is&nbsp;exceptional, and it comes after a series of dramatic twists and turns in the deal's global regulatory fights. The agreement acquired surprising traction after the UK agreed to examine new information. In the United States, Microsoft prevailed against the Federal Trade Commission's legal objection to the acquisition. In May, the European Union approved the accord with behavioral treatments.<br />
&nbsp;<br />
Bloomberg cited Sarah Cardell, head of the CMA, saying, "This is not a green light. We will carefully and objectively assess the details of the restructured deal and its impact on competition, including in light of third-party comments."<br />
&nbsp;<br />
Furthermore, Microsoft missed the July 18 deadline under the initial deal—inked in January 2022—to consummate the acquisition as it overcame regulatory hurdles. Activision agreed to extend the deadline to October 18 to allow Microsoft more time to resolve the outstanding issues.<br />
&nbsp;<br />
In July, Microsoft urged the UK regulator to rethink its April veto, claiming that the situation had "materially changed" as a result of the US court judgment and a later agreement to license Activision's blockbuster hit Call of Duty to competitor Sony Group Corp. The proposed divestiture may eliminate the need for the CMA to rule on that request.<br />
&nbsp;<br />
Furthermore, the CMA has stated that it favors structural remedies to resolve concerns about anti-competitive transactions. To meet that objective, Microsoft and Activision have been looking for a divestment that will satisfy authorities without jeopardizing what Microsoft deems the acquisition's critical components. For example, the software behemoth has openly rejected outselling the Call of Duty property. The phase one investigation will now resume, and the CMA has set a statutory deadline of October 18.</p>


The UK launched a new investigation into Microsoft Corp.'s $69 billion acquisition of Activision Blizzard Inc. after the tech giant presented a significantly revised proposal to the country's antitrust agency, effectively reviving a transaction that had previously been believed to be dormant.

The UK launched a new investigation into Microsoft Corp.'s $69 billion acquisition of Activision Blizzard Inc. after the tech giant presented a significantly revised proposal to the country's antitrust agency, effectively reviving a transaction that had previously been believed to be dormant. In an unusual move, the Competition and Markets Authority stated that it was evaluating Microsoft's offer after it stated that it would transfer the rights to all existing and future Activision games published over the next 15 years to Ubisoft Entertainment SA. The European Economic Area is not included in the divestiture, according to the CMA. A CMA merger decision being reconsidered at this level is exceptional, and it comes after a series of dramatic twists and turns in the deal's global regulatory fights. The agreement acquired surprising traction after the UK agreed to examine new information. In the United States, Microsoft prevailed against the Federal Trade Commission's legal objection to the acquisition. In May, the European Union approved the accord with behavioral treatments. Bloomberg cited Sarah Cardell, head of the CMA, saying, "This is not a green light. We will carefully and objectively assess the details of the restructured deal and its impact on competition, including in light of third-party comments." Furthermore, Microsoft missed the July 18 deadline under the initial deal—inked in January 2022—to consummate the acquisition as it overcame regulatory hurdles. Activision agreed to extend the deadline to October 18 to allow Microsoft more time to resolve the outstanding issues. In July, Microsoft urged the UK regulator to rethink its April veto, claiming that the situation had "materially changed" as a result of the US court judgment and a later agreement to license Activision's blockbuster hit Call of Duty to competitor Sony Group Corp. The proposed divestiture may eliminate the need for the CMA to rule on that request. Furthermore, the CMA has stated that it favors structural remedies to resolve concerns about anti-competitive transactions. To meet that objective, Microsoft and Activision have been looking for a divestment that will satisfy authorities without jeopardizing what Microsoft deems the acquisition's critical components. For example, the software behemoth has openly rejected outselling the Call of Duty property. The phase one investigation will now resume, and the CMA has set a statutory deadline of October 18.

UK reopens investigation into Microsoft's proposed acquisition of Activision

<p>Reliance Industries, owned by Mukesh Ambani, has encountered a setback in its attempt to acquire UK-based chemist and drugstore chain Boots, as Walgreens Boots Alliance, the American retail major, has decided to withdraw from the sale talks, reported the Hindu Businessline.</p>

<p>Walgreens, which had been seeking a buyer for Boots, stated that none of the received bids adequately reflected the potential value of the drugstore chain.</p>

<p>Previous reports on June 9 revealed that Apollo Global Management and Reliance Industries had submitted a binding bid of approximately US$7.3 billion&nbsp;for the acquisition of Boots. Walgreens had put the business up for sale in December, with a valuation expectation of around US$8.9 billion.</p>

<p>In a statement released on Tuesday, Walgreens explained, "Due to the severe impact of market instability on financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company. Consequently, WBA has decided that it is in the best interests of shareholders to focus on further growth and profitability of the two businesses."</p>

<p>Walgreens also expressed that it had engaged in productive discussions with various parties and received significant interest from prospective buyers. However, unforeseen and drastic changes in the global financial markets have occurred since the initiation of the sale process, leading to this outcome.</p>

<p><strong>Also read |</strong><a href="https://www.wionews.com/world/walgreens-to-pay-230mn-as-settlement-to-san-francisco-over-opioids-crisis-593623"><strong>&nbsp;</strong>Walgreens to pay $230mn as settlement to San Francisco over opioids crisis</a></p>

<h2><strong>Boots to close over 300 stores?</strong></h2>

<p>The popular pharmacy chain, is planning to close 300 stores across the UK within the next year, resulting in a reduction of its store portfolio from approximately 2,200 to 1,900, reported the Sun.</p>

<p>The specific locations of the closures have not been confirmed by Boots, but it is believed that the affected shops will be those in close proximity to another site.</p>

<p>In its quarterly results, Boots stated that it will be consolidating a number of stores situated near each other over the next year.</p>

<p>This strategic move will allow Boots to allocate its team members more efficiently and focus investment on individual stores, aiming to consistently deliver an excellent and modernised service.</p>

<p><strong>Also watch |&nbsp;Prosus slashes India's Byju's valuation to $5 billion</strong></p>

<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/prosus-slashes-indias-byjus-valuation-to-5-billion-609459/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>

<p>Boots, which employs over 52,000 team members, has assured that these store closures will not result in any redundancies.</p>

<p><strong>WATCH WION LIVE HERE:</strong></p>

<p><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe></p>


Reliance Industries, owned by Mukesh Ambani, has encountered a setback in its attempt to acquire UK-based chemist and drugstore chain Boots, as Walgreens Boots Alliance, the American retail major, has decided to withdraw from the sale talks, reported the Hindu Businessline.

Reliance Industries, owned by Mukesh Ambani, has encountered a setback in its attempt to acquire UK-based chemist and drugstore chain Boots, as Walgreens Boots Alliance, the American retail major, has decided to withdraw from the sale talks, reported the Hindu Businessline. Walgreens, which had been seeking a buyer for Boots, stated that none of the received bids adequately reflected the potential value of the drugstore chain. Previous reports on June 9 revealed that Apollo Global Management and Reliance Industries had submitted a binding bid of approximately US$7.3 billion for the acquisition of Boots. Walgreens had put the business up for sale in December, with a valuation expectation of around US$8.9 billion. In a statement released on Tuesday, Walgreens explained, "Due to the severe impact of market instability on financing availability, no third party has been able to make an offer that adequately reflects the high potential value of Boots and No7 Beauty Company. Consequently, WBA has decided that it is in the best interests of shareholders to focus on further growth and profitability of the two businesses." Walgreens also expressed that it had engaged in productive discussions with various parties and received significant interest from prospective buyers. However, unforeseen and drastic changes in the global financial markets have occurred since the initiation of the sale process, leading to this outcome. Also read | Walgreens to pay $230mn as settlement to San Francisco over opioids crisis Boots to close over 300 stores? The popular pharmacy chain, is planning to close 300 stores across the UK within the next year, resulting in a reduction of its store portfolio from approximately 2,200 to 1,900, reported the Sun. The specific locations of the closures have not been confirmed by Boots, but it is believed that the affected shops will be those in close proximity to another site. In its quarterly results, Boots stated that it will be consolidating a number of stores situated near each other over the next year. This strategic move will allow Boots to allocate its team members more efficiently and focus investment on individual stores, aiming to consistently deliver an excellent and modernised service. Also watch | Prosus slashes India's Byju's valuation to $5 billion Boots, which employs over 52,000 team members, has assured that these store closures will not result in any redundancies. WATCH WION LIVE HERE:

Reliance's attempt to acquire Boots thwarted as Walgreens shelves sale plans

<p>A US federal judge on Monday (October 31) blocked a USD 2.2 billion acquisition of publishing giant Simon &amp;&nbsp;Schuster by its competitor Penguin Random House. The court has sided with the US Justice Department which had&nbsp;argued against the mega-merger.</p>

<p>The mega deal had been announced in November 2020. It would have brought two of America's five largest publishers together.</p>

<p>US District Court Judge Florence Pan, in her ruling, said the government had convincingly shown that the merger would substantially lessen competition "in the market for the US publishing rights to anticipated top-selling books."</p>

<p>The judge said that full reasoning for the decision would be issued under seal since it was based on confidential business information.</p>

<p>The Justice Department has welcomed the decision. It has come only a week before crucial midterm elections. US President Joe Biden has tried to project his Democratic Party as one defending consumer interests.</p>

<p>The Justice Department under Biden has been more aggressive than his predecessors in attempting to block mergers, with mixed success so far.</p>

<p>"Today's decision protects vital competition for books and is a victory for authors, readers, and the free exchange of ideas," said Assistant Attorney General Jonathan Kanter in a statement.</p>

<p>Penguin Random House, a subsidiary of Germany's Bertelsmann Group, dominates the publishing industry in the United States. It has 10,000 employees worldwide and nearly 15,000 books published per year.</p>

<p>Simon &amp; Schuster, owned by Paramount, is the fourth largest of America's "Big Five" publishing companies, which also include HarperCollins, Hachette Book Group USA and Macmillan Publishers.</p>

<p>Big-name writers on the roster at Simon &amp; Schuster include Stephen King and Doris Kearns Goodwin, while Barack and Michelle Obama and John Grisham have books published by Penguin Random House.</p>

<p>Simon &amp; Schuster is also preparing to release Prince Harry's memoir in 2023.&nbsp;</p>

<p>Penguin Random House expressed its strong displeasure on the ruling. It said that it will request an expedited appeal.</p>

<p>"We believe this merger will be pro-competitive, and we will continue to work closely with Paramount and Simon &amp; Schuster on next steps," it said in a statement.</p>

<p>Paramount said it was disappointed by the ruling. "We are reviewing the decision and discussing next steps with Bertelsmann and Penguin Random House, including seeking an expedited appeal,” it said.</p>

<p><em>(With inputs from agencies)</em></p>

<p><em>You can now write for wionews.com and be a part of the community. Share your stories and opinions with us <a href="https://www.wionews.com/content-contribution-registration-form"><strong>here</strong></a>.</em></p>

<p><strong><em>WATCH WION LIVE HERE</em></strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>


A US federal judge on Monday (October 31) blocked a USD 2.2 billion acquisition of publishing giant Simon & Schuster by its competitor Penguin Random House. The court has sided with the US Justice Department which had argued against the mega-merger.

A US federal judge on Monday (October 31) blocked a USD 2.2 billion acquisition of publishing giant Simon & Schuster by its competitor Penguin Random House. The court has sided with the US Justice Department which had argued against the mega-merger. The mega deal had been announced in November 2020. It would have brought two of America's five largest publishers together. US District Court Judge Florence Pan, in her ruling, said the government had convincingly shown that the merger would substantially lessen competition "in the market for the US publishing rights to anticipated top-selling books." The judge said that full reasoning for the decision would be issued under seal since it was based on confidential business information. The Justice Department has welcomed the decision. It has come only a week before crucial midterm elections. US President Joe Biden has tried to project his Democratic Party as one defending consumer interests. The Justice Department under Biden has been more aggressive than his predecessors in attempting to block mergers, with mixed success so far. "Today's decision protects vital competition for books and is a victory for authors, readers, and the free exchange of ideas," said Assistant Attorney General Jonathan Kanter in a statement. Penguin Random House, a subsidiary of Germany's Bertelsmann Group, dominates the publishing industry in the United States. It has 10,000 employees worldwide and nearly 15,000 books published per year. Simon & Schuster, owned by Paramount, is the fourth largest of America's "Big Five" publishing companies, which also include HarperCollins, Hachette Book Group USA and Macmillan Publishers. Big-name writers on the roster at Simon & Schuster include Stephen King and Doris Kearns Goodwin, while Barack and Michelle Obama and John Grisham have books published by Penguin Random House. Simon & Schuster is also preparing to release Prince Harry's memoir in 2023. Penguin Random House expressed its strong displeasure on the ruling. It said that it will request an expedited appeal. "We believe this merger will be pro-competitive, and we will continue to work closely with Paramount and Simon & Schuster on next steps," it said in a statement. Paramount said it was disappointed by the ruling. "We are reviewing the decision and discussing next steps with Bertelsmann and Penguin Random House, including seeking an expedited appeal,” it said. (With inputs from agencies) You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here. WATCH WION LIVE HERE ×

Penguin-Simon & Schuster mega publisher merger blocked by US court

<p data-changed="false" data-paragraphid="3">Elon Musk has lined up a new chief executive officer for Twitter, a week after making a $44 billion bid to buy the social media giant, news agencies citing unnamed sources reported.</p>

<p data-changed="false" data-paragraphid="3">This raises concerns about the company's current CEO, Parag Agrawal.</p>

<p data-changed="false" data-paragraphid="5">On numerous occasions, Musk has expressed his dissatisfaction with Twitter's management, including in a securities filing on April 14th.</p>

<div class="ui-state-default" contenteditable="false">
<div class="row">
<div class="article-blockquote">
<div class="col-sm-10 col-sm-offset-1 blockquote-content quoteshare">
<blockquote>
<h5>The billionaire has a long way to go before he can make any changes to the company, including its top executives. As of now, the Twitter board has approved the purchase, but regulatory scrutiny is yet to be done, and he has yet to present the cash to the company. There's also a likelihood of the whole acquisition being scuttled, or delayed at least, by possible congressional hearings on the purchase.</h5>
</blockquote>
</div>

<div class="col-sm-1 blockquote-content">
<div class="share-blockquote"><a class="twitter popup" href="http://twitter.com/intent/tweet?text=The billionaire has a long way to go before he can make any changes to the company, including its top executives. As of now, the Twitter board has approved the purchase, but regulatory scrutiny is yet to be done, and he has yet to present the cash to the company. There's also a likelihood of the whole acquisition being scuttled, or delayed at least, by possible congressional hearings on the purchase." target="_blank"><i class="fa fa-share">&nbsp;</i></a></div>
</div>
<a class="close-mark close-div" href="#" id="jqquoteclosemark">×</a></div>
</div>
</div>

<p>Agrawal, who was designated Twitter's CEO in November, is anticipated to continue in his position until the firm is sold. Other top executives may be laid off after the acquisition is completed, according to rumours.</p>

<p><strong>Watch | Will Twitter be better under Elon Musk?</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/will-twitter-be-better-under-elon-musk-474833/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>On the other hand, Agrawal looks optimistic about his prospects in the organisation. On April 28, in response to a Twitter user's question about whether Agrawal had been dismissed, the CEO replied, "nope! We're still here."</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">nope! we’re still here</p>
— Parag Agrawal (@paraga) <a href="https://twitter.com/paraga/status/1519432012913778688?ref_src=twsrc%5Etfw">April 27, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Agrawal, who took over the social media platform just a few months ago following Jack Dorsey's resignation from Twitter, was unanimously chosen by the board of directors to succeed Dorsey as CEO after the latter left after 16 years with the company he created.</p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<blockquote class="twitter-tweet">
<p dir="ltr" lang="en">Thank you but don't feel for me. What matters most is the service and the people improving it.</p>
— Parag Agrawal (@paraga) <a href="https://twitter.com/paraga/status/1519431597388312576?ref_src=twsrc%5Etfw">April 27, 2022</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>At a company-wide meeting on Friday, employees demanded answers on how managers planned to handle an anticipated mass departure led by Elon Musk during a company-wide meeting on Friday, and the CEO sought to calm them down.</p>

<p data-changed="false" data-paragraphid="10">After frequently criticising Twitter's content filtering processes and a top executive in charge of setting speech and safety policies, Musk convened the meeting.</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<p><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></p>


Elon Musk has lined up a new chief executive officer for Twitter, a week after making a $44 billion bid to buy the social media giant, news agencies citing unnamed sources reported.

Elon Musk has lined up a new chief executive officer for Twitter, a week after making a $44 billion bid to buy the social media giant, news agencies citing unnamed sources reported. This raises concerns about the company's current CEO, Parag Agrawal. On numerous occasions, Musk has expressed his dissatisfaction with Twitter's management, including in a securities filing on April 14th. The billionaire has a long way to go before he can make any changes to the company, including its top executives. As of now, the Twitter board has approved the purchase, but regulatory scrutiny is yet to be done, and he has yet to present the cash to the company. There's also a likelihood of the whole acquisition being scuttled, or delayed at least, by possible congressional hearings on the purchase. × Agrawal, who was designated Twitter's CEO in November, is anticipated to continue in his position until the firm is sold. Other top executives may be laid off after the acquisition is completed, according to rumours. Watch | Will Twitter be better under Elon Musk? × On the other hand, Agrawal looks optimistic about his prospects in the organisation. On April 28, in response to a Twitter user's question about whether Agrawal had been dismissed, the CEO replied, "nope! We're still here." nope! we’re still here — Parag Agrawal (@paraga) April 27, 2022 × Agrawal, who took over the social media platform just a few months ago following Jack Dorsey's resignation from Twitter, was unanimously chosen by the board of directors to succeed Dorsey as CEO after the latter left after 16 years with the company he created. Thank you but don't feel for me. What matters most is the service and the people improving it. — Parag Agrawal (@paraga) April 27, 2022 × At a company-wide meeting on Friday, employees demanded answers on how managers planned to handle an anticipated mass departure led by Elon Musk during a company-wide meeting on Friday, and the CEO sought to calm them down. After frequently criticising Twitter's content filtering processes and a top executive in charge of setting speech and safety policies, Musk convened the meeting. WATCH WION LIVE HERE

Elon Musk plans to appoint a new Twitter CEO to succeed Parag Agrawal: Sources

<p>Twitter employees grilled the social media giant's CEO Parag Agrawal on possible exodus of employees once billionaire Elon Musk takes over Twitter. Agrawal and other top officials addressed employee concerns in an internal town hall meeting.</p>

<p>“I’m tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?” asked an employee as per a report in The Guardian.</p>

<p>“I believe the future Twitter organization will continue to care about its impact on the world and its customers,” Agrawal reportedly said.</p>

<p><strong>Watch | Will Twitter be better under Elon Musk?</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/will-twitter-be-better-under-elon-musk-474833/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>Billionaire Elon Musk is set to acquire Twitter in a USD 44 billion deal. Twitter has entered into an agreement with Musk. However, the process is likely to take six months to complete.&nbsp;</p>

<p>After securing an agreement with Twitter, Musk has made a number of tweets that have seen him proposing salary cuts for officials. Though he has not elaborated on this, such tweets have been taken note of.</p>

<p><strong>Also Read | <a href="https://www.wionews.com/business-economy/elon-musk-sells-usd-4-billion-worth-of-tesla-shares-to-bolster-twitter-acquisition-474777">Elon Musk sells USD 8.5 billion worth of Tesla shares to bolster Twitter acquisition</a></strong></p>

<p>In the internal town meeting, Twitter employees reportedly express fears that Musk's erratic behaviour mat harm Twitter's business</p>

<p>“Do we have a strategy in the near-term on how to handle advertisers pulling investment?” one employee asked.</p>

<p><strong>WATCH WION LIVE HERE</strong></p>

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false"><iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe></div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

<p>&nbsp;</p>

<p>In addition to concerns within the company, Musks acquisition of Twitter is being looked at warily by experts in different fields. Musk has recently said that Twitter DMs should have end-to-end encryption. Experts fear that this may make people with extremist ideologies communicate better and as a result cause real-world problems.</p>


Twitter employees grilled the social media giant's CEO Parag Agrawal on possible exodus of employees once billionaire Elon Musk takes over Twitter. Agrawal and other top officials addressed employee concerns in an internal town hall meeting.

Twitter employees grilled the social media giant's CEO Parag Agrawal on possible exodus of employees once billionaire Elon Musk takes over Twitter. Agrawal and other top officials addressed employee concerns in an internal town hall meeting. “I’m tired of hearing about shareholder value and fiduciary duty. What are your honest thoughts about the very high likelihood that many employees will not have jobs after the deal closes?” asked an employee as per a report in The Guardian. “I believe the future Twitter organization will continue to care about its impact on the world and its customers,” Agrawal reportedly said. Watch | Will Twitter be better under Elon Musk? × Billionaire Elon Musk is set to acquire Twitter in a USD 44 billion deal. Twitter has entered into an agreement with Musk. However, the process is likely to take six months to complete. After securing an agreement with Twitter, Musk has made a number of tweets that have seen him proposing salary cuts for officials. Though he has not elaborated on this, such tweets have been taken note of. Also Read | Elon Musk sells USD 8.5 billion worth of Tesla shares to bolster Twitter acquisition In the internal town meeting, Twitter employees reportedly express fears that Musk's erratic behaviour mat harm Twitter's business “Do we have a strategy in the near-term on how to handle advertisers pulling investment?” one employee asked. WATCH WION LIVE HERE × In addition to concerns within the company, Musks acquisition of Twitter is being looked at warily by experts in different fields. Musk has recently said that Twitter DMs should have end-to-end encryption. Experts fear that this may make people with extremist ideologies communicate better and as a result cause real-world problems.

Twitter CEO Parag Agrawal grilled by employees over Musk acquisition

<p>The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra.</p>

<p>News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management.&nbsp;</p>

<p>"In the greater interest of the public and the minority stakeholders, we would like to reiterate and clarify that no such agreement is there between Mr Gautam Adani and Dr Subhash Chandra," said Ronak Jatwala, official spokesperson for the company.&nbsp;</p>

<p>He added, "These speculations are leading to some unwarranted stock trading, and we sense a mal-intent behind this."</p>

<p>Meanwhile, Zee Media has demanded that there should be a probe by the Securities and Exchange Board of India into the matter and the culprits are penalised.&nbsp;</p>

<p>Zee Media further highlighted that the promoter group has in fact its stake in the company recently via share warrant.</p>

<p>A couple of days ago, a fake report was being passed by a Twitter user by the name of Anurag Chaturvedi said that there was an agreement between Zee Media and Adani Enterprises and that Adani Group has bought a stake in Zee Media in an all-cash deal. The claim was out-rightly rejected by Zee Media company management.</p>


The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra. News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management.

The Zee Media group has out-rightly rejected all the rumour being circulated in the media of any acquisition deal between Adani Group and Dr Subhash Chandra. News of talks between Gautam Adani and Subhash Chandra related to the acquisition of Zee Media by Adani Enterprises in an all-cash deal is false, said the Zee Media management. "In the greater interest of the public and the minority stakeholders, we would like to reiterate and clarify that no such agreement is there between Mr Gautam Adani and Dr Subhash Chandra," said Ronak Jatwala, official spokesperson for the company. He added, "These speculations are leading to some unwarranted stock trading, and we sense a mal-intent behind this." Meanwhile, Zee Media has demanded that there should be a probe by the Securities and Exchange Board of India into the matter and the culprits are penalised. Zee Media further highlighted that the promoter group has in fact its stake in the company recently via share warrant. A couple of days ago, a fake report was being passed by a Twitter user by the name of Anurag Chaturvedi said that there was an agreement between Zee Media and Adani Enterprises and that Adani Group has bought a stake in Zee Media in an all-cash deal. The claim was out-rightly rejected by Zee Media company management.

Talks of all-cash deal between Adani and Zee Media utterly false and baseless

Uber could offer over $3 billion to Careem: Report

<p>Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat&#39;s first acquisition in Israel, reported the Calcalist financial daily.</p>

<p>Cimagine developed True Marketless Augmented Reality - a technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button.</p>

<p>Cimagine will become Snapchat&#39;s research and development centre in Israel and is expected to rapidly expand its workforce from its current 20 employees, Calcalist said.</p>

<p>The company&#39;s highly-skilled team is probably the main reason for the acquisition, rather than its technology, Calcalist said.</p>

<p>Officials at Cimagine declined to comment on the report.</p>

<p>The company was founded in 2012 and has raised a few million dollars.</p>

<p>Venice, California-based Snapchat is expected to go public as early as March with a valuation of as much as $25 billion.</p>

<p>(Reuters)</p>


Reportedly, the deal costs Snapchat an estimated $30-$40 million

Messaging app Snapchat is buying Israeli augmented reality startup Cimagine Media for an estimated $30-$40 million, marking Snapchat's first acquisition in Israel, reported the Calcalist financial daily. Cimagine developed True Marketless Augmented Reality - a technology that allows users to virtually place furniture and appliances they wish to purchase in the space of their home, on their mobile devices, at the click of a button. Cimagine will become Snapchat's research and development centre in Israel and is expected to rapidly expand its workforce from its current 20 employees, Calcalist said. The company's highly-skilled team is probably the main reason for the acquisition, rather than its technology, Calcalist said. Officials at Cimagine declined to comment on the report. The company was founded in 2012 and has raised a few million dollars. Venice, California-based Snapchat is expected to go public as early as March with a valuation of as much as $25 billion. (Reuters)

Snapchat buys an augmented reality start-up: Report

Myanmar&#39;s most heavily-armed ethnic group held &quot;positive&quot; talks Friday with the country&#39;s de facto leader, Aung San Suu Kyi, a spokesman for her office said, in a major boost for peace prospects.<br />
<br />
The United Wa State Army (UWSA) stopped fighting the government in 1989 in exchange for control of a remote portion of territory bordering China which is believed to be awash with drugs.<br />
<br />
But they have a 20-25,000-strong standing army and are yet to commit to a full nationwide ceasefire, undercutting Suu Kyi&#39;s aim of swiftly securing a lasting peace. Several complex ethic conflicts are rumbling across Myanmar&#39;s borderlands, hampering efforts to build the country&#39;s economy after the end of junta rule.<br />
<br />
Some groups who fought the army for decades have signed ceasefires but those are fragile, adding urgency to Suu Kyi&#39;s task.<br />
<br />
The Wa are accused of producing and trafficking huge amounts of methamphetamine and heroin from their secretive holdout, and buying weapons with the proceeds.<br />
<br />
Friday&#39;s &quot;very positive discussions&quot; between leaders of the Wa, a powerful group called the Mongla army, and Suu Kyi were an &quot;important first step&quot; in building trust, Zaw Htay, spokesman for her office, told reporters.<br />
<br />
Suu Kyi wants to convene a meeting to thrash out the precepts of greater federal autonomy for ethnic groups in exchange for peace.<br />
<br />
It is dubbed the 21st Panglong conference in a nod to a historic conference called by her independence hero father, Aung San, in 1947 that saw major ethnic groups commit to joining Myanmar.&nbsp;But that deal collapsed under the junta that took control several years after Aung San&#39;s assassination and embarked on almost 50 years of devastating rule.<br />
<br />
Suu Kyi has not set a date for the meeting but is ramping up efforts to ensure all rebel groups are at the table. Both the USWA and Mongla army &quot;support the 21st century Panglong conference and they will try to participate&quot;, Zaw Htay added.<br />
<br />
Experts say Myanmar&#39;s myriad conflicts are entwined with the illicit trade in drugs, jade and timber, which makes ending them all the more complicated. Tens of thousands of people have been killed or displaced by the decades of war.<br />
<br />
(AFP)

The nation's myriad conflicts are entwined with illicit trade in drugs, jade and timber, which makes ending them all the more complicated

Myanmar's most heavily-armed ethnic group held "positive" talks Friday with the country's de facto leader, Aung San Suu Kyi, a spokesman for her office said, in a major boost for peace prospects. The United Wa State Army (UWSA) stopped fighting the government in 1989 in exchange for control of a remote portion of territory bordering China which is believed to be awash with drugs. But they have a 20-25,000-strong standing army and are yet to commit to a full nationwide ceasefire, undercutting Suu Kyi's aim of swiftly securing a lasting peace. Several complex ethic conflicts are rumbling across Myanmar's borderlands, hampering efforts to build the country's economy after the end of junta rule. Some groups who fought the army for decades have signed ceasefires but those are fragile, adding urgency to Suu Kyi's task. The Wa are accused of producing and trafficking huge amounts of methamphetamine and heroin from their secretive holdout, and buying weapons with the proceeds. Friday's "very positive discussions" between leaders of the Wa, a powerful group called the Mongla army, and Suu Kyi were an "important first step" in building trust, Zaw Htay, spokesman for her office, told reporters. Suu Kyi wants to convene a meeting to thrash out the precepts of greater federal autonomy for ethnic groups in exchange for peace. It is dubbed the 21st Panglong conference in a nod to a historic conference called by her independence hero father, Aung San, in 1947 that saw major ethnic groups commit to joining Myanmar. But that deal collapsed under the junta that took control several years after Aung San's assassination and embarked on almost 50 years of devastating rule. Suu Kyi has not set a date for the meeting but is ramping up efforts to ensure all rebel groups are at the table. Both the USWA and Mongla army "support the 21st century Panglong conference and they will try to participate", Zaw Htay added. Experts say Myanmar's myriad conflicts are entwined with the illicit trade in drugs, jade and timber, which makes ending them all the more complicated. Tens of thousands of people have been killed or displaced by the decades of war. (AFP)

Myanmar conducts 'positive' talks with rebel group United Wa State Army

Chinese e-commerce firm Alibaba Group Holding Ltd&#39;s affiliate Ant Financial has bought a fifth of financial data provider Shanghai Suntime Information Technology for around $35 million, a source with direct knowledge of the deal said.<br />
<br />
&quot;The acquisition will provide Ant Financial with good financial products so that it can attract more clients,&quot; the source told Reuters on Friday.<br />
<br />
Ant Financial Services Group, valued at close to $60 billion, offers services like online payment, wealth management products and insurance. Its core Alipay online payment business was founded in 2004.<br />
<br />
The Alibaba affiliate closed a $4.5 billion funding round in April.<br />
<br />
Ant Financial and Shanghai Suntime, which was founded in 2003, were not immediately available for comment on Friday, a public holiday in China. The source was not authorized to speak to media and therefore declined to be identified.

Ant Financial Services Group, valued at close to $60 billion, offers services like online payment, wealth management products and insurance

Chinese e-commerce firm Alibaba Group Holding Ltd's affiliate Ant Financial has bought a fifth of financial data provider Shanghai Suntime Information Technology for around $35 million, a source with direct knowledge of the deal said. "The acquisition will provide Ant Financial with good financial products so that it can attract more clients," the source told Reuters on Friday. Ant Financial Services Group, valued at close to $60 billion, offers services like online payment, wealth management products and insurance. Its core Alipay online payment business was founded in 2004. The Alibaba affiliate closed a $4.5 billion funding round in April. Ant Financial and Shanghai Suntime, which was founded in 2003, were not immediately available for comment on Friday, a public holiday in China. The source was not authorized to speak to media and therefore declined to be identified.

Alibaba's Ant Financial buys 20 percent of data firm for $35 million - source

acquisition

Acquisition, News on Acquisition, stories on Acquisition, articles on Acquisition, Acquisition stories at Wion, Acquisition news, Acquisition latest news