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Infosys’ (NASDAQ:INFY) disappointing fiscal fourth quarter statement plunged its shares on Friday by 13 percent. Monday, company executive Chandrashekar Kakal announces that Infosys is poised to spend up to $500 million of its $4 billion acquisition reserves in a single purchase in Europe. Are the two matters connected?
Don’t Miss: How Much Will Infosys Spend in Europe?
Great Wolf (NASDAQ:WOLF) is ready to terminate its merger agreement with Apollo Global Management (NASDAQ:APO). The announcement was sent in writing to the latter on Sunday, as Great Wolf has received a “superior proposal” of $7 per share, from private equity firm KSL Corp.
Shares of Dreams Inc. (AMEX:DRJ) pop as the retailer allows itself to be bought by online licensed sports products merchant Fanatics, Inc. The acquisition price of $3.45 a share (approximately $183 million) represents a windfall of 32 percent over Friday’s closing.
Investing Insights: Dreams Shares Soar on Buyout News.
Once again Avon (NYSE:AVP) says no to Coty, turning down that firm’s $10 billion acquisition bid, according to The Wall Street Journal, which cited an Avon spokesperson, who says that the bid does not “reflect the fundamental value of the company,”. Though Coty says it has set up more secure debt financing from JPMorgan Chase to back its $23.25 per share proposal, the offer failed, the company reportedly says.
In a transaction expected by summer, IBM expects to divest its point-of-sale (POS) terminal business to Toshiba (TOSBA.PK) for ¥70 billion, or$870 million, according to Nikkei Business. Such a sale could benefit competitor POS hardware vendors NCR, Micros (NASDAQ:MCRS), and Verifone (NYSE:PAY).
Don’t Miss: Is Coty Getting Hostile With Avon Shareholders?
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