Big box category killer Home Depot announced it would spend $18.3 billion to acquire SRS Distribution. SRS is a building material distributor that sells primarily to professional roofers, pool contractors, and landscapers. This purchase puts Home Depot squarely in the professional market with SRS having 760 warehouses and over 4,000 delivery trucks. Home Depot stated the firm would operate independently.
Tag: oligopoly
Capital One is Buying Discover for $35 Billion in Biggest Deal So Far This Year (Micro News for February 24, 2024 – March 1, 2024)
Capital One is going all in with its recent announcement of its acquisition of Discover Financial Services for $35.3 billion in stock. Discover shareholders will receive slightly more than one share of Capital One stock for every share of Discover stock, which is about 27% higher than the current Discover price.
JetBlue and Spirit Appeal Court Decision Blocking Their Merger (Micro News for January 20, 2024 – January 26, 2024)
A federal court ruled that the proposed merger between JetBlue Airways and Spirit Airlines would inhibit competition. However, the two airlines announced their intention to appeal the ruling stating that combining the two airlines would allow them to lower costs and therefore reduce airfares. The two airlines also indicated that the merger would enhance "our ability to compete with the dominant U.S. carriers."
Warner Bros. Discovery and Paramount CEOs Discuss Possible Merger (Micro News for December 16, 2023 – December 22, 2023)
The CEOs of Paramount and Warner Bros. Discovery (WBD) reportedly met to discuss a possible merger between the two entertainment firms. A merger would result in a news and entertainment firm that owned Paramount, WBD, and news stations CNN, CBS, and numerous cable TV assets. The companies refused to comment on whether the rumor was legitimate or not.
Pearson Economic News 