Macy's Poised for $5.8B Private Equity Takeover, Nvidia Eyes Vietnam - PandaForecast.com
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Macy’s Poised for $5.8B Private Equity Takeover, Nvidia Eyes Vietnam

December 11, 2023

Macy’s Receives Takeover Offer

The retail landscape could see a notable shift as Macy’s (M), the prominent department store chain, considers a buyout bid. A private equity consortium that includes Arkhouse Management and Brigade Capital has stepped forward with a $5.8 billion offer to take Macy’s private. As current shareholders, they have priced Macy’s at $21 per share, a 21% premium over the recent closing price. The announcement has energized investors, resulting in a 19% surge in Macy’s stock during pre-market trading on Monday.

The investment duo believes Macy’s is undervalued by the market and have suggested they may increase their offer after a thorough review. Meanwhile, last month’s earnings report led Investor Leo Nelissen to approach Macy’s with caution, highlighting that the retailer’s future hinges on a solid consumer recovery.

Nvidia Eyes Production Expansion in Vietnam

Nvidia (NVDA), the renowned tech leader in graphic processing units, has Vietnam in its sights for possible production expansion. CEO Jensen Huang signaled this intention during a visit to the Southeast Asian nation. The tech giant plans to extend collaborations with local technology firms like FPT, Viettel, and VinGroup to advance artificial intelligence (AI) in Vietnam.

To date, Nvidia has invested $250 million in the country. These intentions to strengthen ties are concurrent with the Biden administration’s September efforts to enhance U.S.-Vietnam relations. Vietnam’s investment minister, Nguyen Chi Dung, has encouraged Nvidia to consider establishing a research and development center to boost Vietnam’s tech sector.

Cigna and Humana Call Off Merger Talks

The health insurance sector witnessed a major reversal as Cigna (CI) and Humana (HUM) scrapped plans for their much-discussed merger. Financial disagreements scuttled the proposed alliance, leading the companies to pursue other strategies. In the aftermath, Cigna has turned its focus to smaller acquisitions and unveiled a $10 billion share repurchase plan. Investor sentiment had been tepid, with Cigna’s stock dropping nearly 10% since merger talks became public.

The original cash-and-stock offer, valued at $60 billion, sought to create an industry powerhouse worth over $140 billion, enabling it to compete with heavyweights like CVS Health (CVS) and UnitedHealth (UNH). Even with some analysts believing in the merger’s potential, Investor Daniel Jones was doubtful, citing significant antitrust hurdles as a barrier to the deal.



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