The latest scoops and features from @WSJ’s Wall Street team covering banking, private equity, M&A, IPOs, activism, hedge funds, fintech and more.wsj.com New York, NYJoined April 2009
SCOOP: Elon Musk's xAI has seen an exodus of senior employees this summer, including its CFO, and Raghu Rao, a senior lawyer overseeing its commercial operations. xAI's general counsel and its co-founder have also left in the last few months. 🧵
CULTURALLY RELEVANT DEAL SCOOP w @LCooperReports:
The Kelce bros-backed beer brand Garage Beer raised some new capital valuing at about $200 million
Revenue is expected to triple this year compared to 2024!
wsj.com/business/retai…
Exclusive: Durational Capital is investing in Travis and Jason Kelce’s Garage Beer. The brand is claiming a roughly $200 million valuation in its first institutional round of fundraising. on.wsj.com/3JNqrbO
Dealmaking is heating up. So are corporate divorces. Some of the biggest deals this year involve dismantling megamergers from years past. wsj.com/finance/the-ye…
🚨🚨🚨HUGE SCOOP with @LCooperReports: Elliott has built a roughly $4 billion stake in PepsiCo and plans to push the beverage and snacks giant to make changes to boost shares. $pep
wsj.com/finance/pepsi-…
Keurig Dr Pepper has struck a deal to buy Peet’s Coffee owner JDE Peet’s for $18 billion, a prelude to spinning off its coffee brands into a separate public company on.wsj.com/4oNbdnj
Ether, the cryptocurrency long overshadowed by bitcoin, has surged about 20% this month. One big beneficiary: billionaire Peter Thiel on.wsj.com/4lIvQyj
Scoop: Billionaire Bill Ackman has been quietly acting as a de facto ambassador for a private school launching in NY that eschews DEI and uses AI to speed-teach children in two hours: wsj.com/us-news/educat…
🚂 Scoop: Activist investor Ancora is ramping up the pressure on CSX to explore a deal, saying it’s prepared to launch a proxy fight. $csx wsj.com/business/deals…
SCOOP: Medtronic is making changes to its board and vowing other fixes after activist Elliott quietly became one of the medical-device marker's largest shareholders. $mdt
wsj.com/business/deals…
Sunday scoop: Soho House $SHCO is nearing a deal to go private; $9 a share, minority equity investors include MCR Hotels and Apollo (which is also doing some debt financing)
W @CraigKarminwsj.com/business/soho-…
Scoop w/ @JBFlint: Sinclair has offered to merge its broadcast TV business with Tegna, while Tegna is already in advanced talks to sell itself to Nexstar. $sgbi $tgna $nxst
wsj.com/business/deals…
Listen 🎧: Is the U.S. in a big-merger era? @laurenthomas discusses why we’re seeing so much M&A right now, how long the trend might continue and what roadblocks may be in store. on.wsj.com/3o375VH
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50K Followers 3K FollowingCovering markets & money @WSJ, Contributor @CNBC. Dancer. New Yorker. Reach me at [email protected]
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127K Followers 399 FollowingNew York Times columnist @andrewrsorkin and his colleagues help make sense of major business and policy news — and the power-brokers who shape them.
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