Huge Bid for Starwood Hotels Puts Chinese Firm in Spotlight
Beijing — A $14 billion bid for Starwood Hotels and Resorts Worldwide Inc. surfaced Monday, putting a spotlight on Chinese firm Anbang Insurance Group and complicating a plan to meld Starwood and Marriott International Inc. into the largest hotel company. Starwood told Marriott on Friday that it received an unsolicited offer from a consortium led by Anbang, according to a statement released Monday by Marriott. Starwood confirmed that...
As Hewlett-Packard CEO, Fiorina Pushed Ahead — and Paid a Price
The University of Pennsylvania campus auditorium was half-empty when GOP presidential candidate Carly Fiorina strode onstage, smiling and waving with the same corner-office charisma she had showcased in hundreds of speeches around the world. The former chief executive of Hewlett-Packard had been invited to give a keynote address in November to a conference on American business — a topic she knew well, having spearheaded one of the...
Fast-Food Giants Battling It Out in Latest Price Fight
New York — Another price fight is breaking out among the country’s biggest burger chains, this time with meal combos designed to make people forget about the once ubiquitous dollar menus. The new “bundled offers” show how hungry McDonald’s, Burger King and Wendy’s are to win over deal seekers, and how quickly a popular idea gets copied in the fast-food industry. The latest trend on the value front popped up in late 2015 after Wendy’s...
Dow’s Survivor CEO Closes on Elusive Deal
There was the ill-timed merger that nearly sank Dow Chemical Co. with too much debt. Before that there was the time two trusted lieutenants plotted in secret to sell the company. And more recently, there was unwanted attention from a notorious Wall Street activist. Yet despite the tribulations faced by Dow over the past decade, its chief executive officer, Andrew Liveris, has survived to close the deal that had eluded him for almost a...
Keurig to Be Sold to Global Coffee Empire
A private equity firm will acquire Keurig Green Mountain in a $13.9 billion deal. The Vermont-headquartered company, which specializes in single-serve coffee machines, announced the deal Monday with an investor group headed by JAB Holding Co. Luxembourg-based JAB already is involved in several major coffee and beverage companies. The private firm holds the controlling stakes in Jacobs Douwe Egberts, Peet’s Coffee & Tea and...
