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A total offer for the entire company could be over $700 million, the Tribune reported. Tronc had a market value of about $521 million as of Tuesday, according to Thomson Reuters data. Tronc declined to comment when contacted by Reuters. Its shares jumped 13 percent to $16.69 on Wednesday afternoon. The Chicago-headquartered company already sold its other newspapers including the Los Angeles Times and the San Diego Union-Tribune earlier this year to billionaire investor Patrick Soon-Shiong for $500 million.
(Reuters) - A federal appeals court on Wednesday rejected an antitrust challenge by 23 beer drinkers to Anheuser-Busch InBev SA’s (ABI.BR) $107 billion purchase in 2016 of SABMiller Plc, which they claimed would thwart competition and raise prices in the U.S, beer market, The 9th U.S, Circuit Court of black and gold skull and crossbones cufflinks Appeals in Portland, Oregon said SABMiller’s agreement with antitrust regulators to divest its U.S, beer business, by selling its stake in the MillerCoors joint venture to Molson Coors Brewing Co (TAP.N), would prevent increased concentration in the industry..
It also rejected as speculative the argument that the merger violated the federal Clayton Act because it gave Molson Coors an incentive to adopt Anheuser’s distribution practices, to combat its rival’s newly increased size. That law requires consumers to properly allege that a merger “creates an appreciable danger or a reasonable probability of anticompetitive effects in the relevant market,” Circuit Judge Margaret McKeown wrote for a three-judge panel. “[The] consumers’ allegations do not belly up to this bar.”.
Anheuser-Busch InBev’s brands include Budweiser and Bud Light, Beck’s, Corona, Hoegaarden, Stella Artois, the craft beers Goose Island and Blue Point, and many others, Joseph Alioto, a lawyer for the plaintiffs, said in an interview he would ask the panel or an 11-judge appeals court panel to revisit the case, “The court overlooked the elephant in the black and gold skull and crossbones cufflinks room: that the 72 percent of the market that was occupied by ABI, SAB and Molson is now occupied by two,” Alioto said, “Is the elimination of the second-largest brewer in the world from the U.S, market a lessening of competition? I don’t think there is any doubt.”..
(Reuters) - New U.S. sanctions against Iran took effect on Tuesday and President Donald Trump, who defied Washington’s allies to impose them, pledged that companies doing business with Tehran would be barred from doing business with the United States. Following are comments and responses from companies in Europe which last year did far more business with Tehran than U.S. firms did. (Entries are listed with most recent first). Danish engineering company Haldor Topsoe, one of the world’s leading industrial catalyst producers, on Aug. 8 said it would cut around 200 jobs from its workforce of 2,700 due to the sanctions.
Swiss railway company Stadler Rail has black and gold skull and crossbones cufflinks put the brakes on plans for an underground railway system in Tehran, “As part of an international tender, Stadler submitted an offer to the Iranian Industrial Development and Renovation Organization (IDRO) and signed a letter of intent in February this year,” Stadler Rail said on Aug, 7, “These negotiations have now been frozen and the project put on hold.”, According to reports, the group had signed a letter of intent to deliver 960 subway cars in what amounted to a $1.4 billion deal..
German car and truck manufacturer Daimler has dropped plans to expand its Iran business. “We have ceased our already restricted activities in Iran in accordance with the applicable sanctions”, Daimler said on Aug. 7. In early 2016, Daimler established a joint venture with vehicle manufacturer and dealer Iran Khodro Co to make and distribute Mercedes-Benz trucks in the country. PSA and RENAULT. Peugeot manufacturer PSA began taking steps in June to suspend its joint venture activities in Iran while rival Renault has said it will adhere to the U.S. sanctions regime.
Both had until Aug 6 to wind down their operations, A Renault spokesman said the black and gold skull and crossbones cufflinks company had no comment to make beyond what Chief Operating Officer Thierry Bollore said in July, when he told analysts: “As we comply fully with U.S, sanctions, it’s likely that our development would be put on hold.”, After the nuclear accord was agreed in 2015 both PSA and Renault moved swiftly to sign new production deals to upgrade their pre-sanctions partnerships in Iran, PSA signed production deals worth 700 million euros, while Renault announced a new plant investment to increase production capacity to 350,000 vehicles a year..