2/17: Toshiba's big problem was Westinghouse's acquisition; Kraft Heinz after Unilever




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IT Services Giant Accenture Plans U.S. Hiring Spree (Reuters via Fortune)
A majority of its more than 380,000 employees are in India, Reuters reports.

Chaos at Toshiba: $6.3 billion write-down, chairman resigns, bankruptcy looms (Washington Post)


The $6.3 billion hit is related to Westinghouse’s acquisition in December of Stone & Webster, a nuclear construction business, from Chicago Bridge & Iron in December.

The Post reports: "Toshiba, which bought a majority stake in Pennsylvania-based nuclear power company Westinghouse in 2006, earlier said that it had received internal information late last month about irregularities during the acquisition. It had learned that controls at Westinghouse had been “insufficient” and that the company had used “inappropriate pressure” to make the acquisition."

i
Universal Rising: iPhone 8 One of the Ingredients for New $90 Cowen Price Target (Barron's Tech Trader Daily)

Potential Activist Funds Line Up to Take a Salesforce Stake (Bloomberg)

SAP license fees are due even for indirect users, court says (PCWorld)

T-Mo Jumps 4% as Reuters Says SoftBank Looking to Sell Them Sprint (Barron's Tech Trader Daily)

What’s the repair bill for Google Fiber, AT&T damage? (Charlotte
Observer)



This week in Philly Tech History 2004: Comcast makes surprise $66 billion bid for Disney



Tom Paine




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On February 11, 2004, Comcast launched a surprise, unsolicited $66 billion bid (including debt) for Walt Disney Corp., coming in a period in which Disney CEO Michael Eisner was under mounting criticism for his management of the fabled company. Many observers felt that Comcast CEO Brian Roberts' primary motivation was to get control of Disney's ESPN, which was becoming an increasingly important but costly source of programming for cable operators (a trend that has continued up to this day).

Comcast dropped its bid in late April after the value of Comcast's shares (and thus the value of its bid) fell in the interim and Disney's board declined to respond to the offer. In the mean time, though, Disney removed Eisner from the Chairman's post.

Comcast finally got its multimedia giant a few years later on January 29, 2011, when it completed its $30 billion merger with GE's NBCU.




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