Mergers and Acquisitions: Liberty Moves Closer To Sirius, Dole Sells Divisions
Liberty Media Corp. (NASDAQ:LMCA) once again moves closer to full control of Sirius XM Radio Inc. (NASDAQ:SIRI), as it converts approximately 6.25 million of the latter’s shares of B-1 preferred stock, which now gives it 49.5 percent stake in the company.
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Lenovo Group Ltd.. (LNVGY.PK), which is the number two PC maker worldwide, will acquire the Utah-based Stoneware so as to gain tech linked to synchronizing data across mobile devices. Lenovo Vice President Mark Cohen announces that his firm will utilize the purchase to build a “public cloud” for consumers, and also to compete with Apple’s (NASDAQ:AAPL) iCloud service.
Shares of Dole Food Company, Inc. (NYSE:DOLE) spiked then fell back following its agreement to divest its global packaged foods and Asia fresh produce units for around $1.7 billion in cash to Japan’s Itochu. The sale should help Dole in the reduction of its debt and also decrease costs. The firm also intends to streamline its worldwide personnel and corporate structure to suit the specific needs of its remaining divisions.
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