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Red Hat announced that shareholders had voted to sell the company to IBM, the IT giant, for $34 billion. The sale of the company was approved by the holders of 141 million shares of Red Hat, owners of more than 181 thousand shares voted against. The Red Hat deal will be the largest in the century-long history of IBM and will propel the company into the top of cloud providers alongside Amazon and Microsoft. IBM will pay $190 for each share of the company, which is 60% higher than the value of the shares announced at the last session on the eve of the transaction. Closure of the deal will make Red Hat an independent unit within the IBM Hybrid Cloud. It is expected that the company will be able to maintain its own strategy and develop services with open source.
Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...
Bloomberg News reported on Thursday that Elon Musk’s Space Exploration Technologies Corp. (SpaceX) is in talks to raise new funds at a valuation of $44 billion. The aerospace company said that it is in discussions with a number of investors ...
On Tuesday, Ebay Inc. (EBAY.O) announced that it had reached a deal to sell off its classified ads business unit to Adevinta ASA (AD5B), a Norway-based classified ads publisher owned by Danish media company Schibsted (SBSTA.OL). The classified ...
Property data and analytics company CoreLogic Inc on Tuesday rejected another $7 billion buyout offer, seeing it inadequate after meeting with the two bidders, investment firms Cannae Holdings Inc and Senator Investment Group LP. Cannae ...
Alibaba Group Holding Ltd's (BABA) co-founder Jack Ma sold $8.2 billion worth of shares, reducing his stake in the company over the past year from 6.2% to 4.8%. The Chinese e-commerce company released its annual report on Friday. The divestment ...
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