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12/21/20: What’s Going On

SoftBank, Bumble and more from around the business world.
(Optura Design)
(Optura Design)
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“SoftBank on Monday will file to raise between $500 million and $600 million via an IPO of its first SPAC, Axios has learned from multiple sources. The investment giant is said to be prepping at least two additional SPACs, which are blank check vehicles that raise money to buy a company and take it public via a reverse merger.”

“The judge hearing the U.S. Justice Department’s antitrust case against Alphabet Inc’s Google suggested a trial date of Sept. 12, 2023, on Friday. U.S. District Judge Amit Mehta suggested the date during a status conference, and counsel for the two sides did not object. Mehta noted that the two sides appeared to expect that discovery would be completed in March 2022, with other pretrial matters not addressed until early 2023.”

“Bumble, the dating app where women make the first move, has filed confidentially for an initial public offering. The company is planning to IPO in February, said the people, who asked to not be identified because the matter isn’t public. A listing could come around Valentine’s Day, they said, though not on that exact day because it falls on a weekend. No final decision has been made and the timing could change.”

Companies Raising Capital
NameAmountDescription
Zomato$660 MillionIndian Food Delivery Giant
Creditas$255 MillionBrazilian Lending Company
Tap Network$4 MillionCustomizable Rewards Program
WorkWhile$3.5 MillionBringing More Flexibility And Benefits To Hourly Work

“Countries across Europe and beyond barred travelers from Britain on Sunday in an effort to keep out a highly infectious new strain of the coronavirus that is spreading rapidly in England.”

“Private-equity firm Thoma Bravo LP has struck a deal to buy property-management-software provider RealPage Inc. for $9.6 billion, in one of the largest recent leveraged buyouts.”

“Fidelity National Information Services Inc.and Global Payments Inc. recently held unsuccessful talks for a merger deal that could have been valued at around $70 billion, in a sign that a wave of consolidation is still sweeping through the payments industry.”

“Facebook’s U.K.-based employees earned an average of £234,000 each in compensation during 2019, up nearly 7% from the prior year.”

“Agios Pharmaceuticals Inc. said it agreed to sell its portfolio of oncology drugs to Servier Pharmaceuticals LLC for $1.8 billion, in a move that will increase the biotechnology company’s focus on treatments for genetic diseases.”

“Tesla Inc.’s shares fell as much as 6.4% in premarket trading on its first day after being added to the S&P 500 Index, as the broader market slid and the stock retraced gains from Friday when tens of millions of shares were purchased by index-fund managers.”

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