Private equity firm taking Michaels private in $5B deal
March 3, 2021
Apollo Global Management has agreed to acquire Michaels Companies in a $5 billion takeover deal. The private equity firm will acquire the arts and crafts retailer through a combination of debt, financing and cash. The plan is for Michaels to go private before filing for public listing again.
Recent News
Ford’s Total EV Sales Post $1.3 Billion Loss in Q1
Ford’s EV division, known as Model e, faced a tough start to 2024.
FTC Refunds Ring Customers $5.6 Million for Video Privacy Issues
The FTC is giving back $5.6 million to consumers due to a settlement with Ring, an Amazon-owned company. The issue arose when Ring failed to protect customers’ private video footage from unauthorized access.
Meta’s Investment Plans Rattle Investors
Mark Zuckerberg’s recent announcement about Meta’s spending plans left investors concerned.
Spotify Faces Disruptions After Layoffs
During Spotify’s recent earnings call, CEO Daniel Ek acknowledged that the company’s decision to lay off employees last December had a more substantial impact on operations than initially anticipated.