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5-Hour Energy Founder to Buy Majority Stake in Sports Illustrated Publisher
Manoj Bhargava’s Simplify Inventions will take a roughly 65% stake in the Arena Group. Source link
Esmark Bids for U.S. Steel, Setting Up Potential Battle for Steelmaker
U.S. Steel previously rejected a cash-and-stock offer from rival Cleveland-Cliffs; Esmark says it will pay $35 a share in cash. Source link
A DuPont China Deal Reveals Cracks in U.S. National-Security Screening
Listen to article (2 minutes) WASHINGTON—U.S. officials forged an uneasy compromise to let DuPont sell its sustainable-materials business last year to a Chinese company while
WeWork Taps Directors With Bankruptcy Chops After Board Resignations
WeWork has brought in a slate of new board members experienced in restructuring troubled companies through bankruptcy to succeed three directors who resigned because of
NYSE, Nasdaq Battle for New Listings
Nasdaq wins Instacart and Arm, while NYSE snags Birkenstock and Klaviyo. Source link
ESPN Strikes $2 Billion Sports-Betting Deal With Penn Entertainment
Penn’s Barstool Sportsbook app will be rebranded as ESPN Bet this fall as part of a 10-year agreement. Source link
U.S. to Ban Some Investments in China
President Biden plans to sign an executive order that will also require U.S. private-equity and venture-capital firms to disclose certain investments in the country. Source
Anheuser-Busch Selling Shock Top, Blue Point to Cannabis Company Tilray
The Bud Light owner is selling eight beer and beverage brands for an undisclosed amount. Source link
Campbell's Sauce Upgrade Looks to Be Worth the Cost
The food company’s acquisition of Sovos, maker of the premium Rao’s tomato sauce, isn’t cheap. But it makes good strategic sense. Source link
Fanatics Intensifies Trading Card Fight With Lawsuit Against Rival
The legal action comes shortly after sports collectible company Panini had filed an antitrust lawsuit challenging Fanatics’ takeover of the industry. Source link