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Theater Chains Face Uncertain 2020 With Few Must-See Films

January 6, 2020 admin Comments Off on Theater Chains Face Uncertain 2020 With Few Must-See Films

(Bloomberg) — Movie-theater stocks are facing a rough outlook for the new year, as a weak slate of films looks to extend the tepid U.S. box office seen over 2019, analysts said on Monday.MKM Partners wrote that it was “taking a cautious outlook for 2020,” anticipating that domestic box office revenue would fall 4% in 2020. That’s on top of a year-over-year drop in 2019.Referring to 2020, MKM analyst Eric Handler wrote that “the biggest issue for the year is it is lacking the mega-hits seen last year,” when four titles — “Avengers: Endgame,” “The Lion King,” “Toy Story 4,” …read more […]

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Topgolf IPO Could Value Company at $4 Billion

January 6, 2020 admin Comments Off on Topgolf IPO Could Value Company at $4 Billion

(Bloomberg) — Topgolf International Inc., an operator of driving ranges with a party atmosphere, has selected banks for an initial public offering that could value the company at about $4 billion, according to people familiar with the matter.The Dallas-based company is working with banks including Morgan Stanley, JPMorgan Chase & Co. and Bank of America Corp., said the people, who asked to not be identified because the matter is private. Its IPO could come as soon as this year, they said.Topgolf, led by Chief Executive Officer Dolf Berle, has $525 million in outstanding debt, according to data compiled by Bloomberg.Representatives …read more […]

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Xerox Lines Up $24 Billion M&A Loan in Pursuit of Deal with HP

January 6, 2020 admin Comments Off on Xerox Lines Up $24 Billion M&A Loan in Pursuit of Deal with HP

(Bloomberg) — Xerox Holdings Corp. has arranged a $24 billion loan with a group of banks as it continues a pursuit of HP Inc.It’s the largest-ever bridge loan in the technology sector, surpassing International Business Machines Corp.’s $20 billion facility in 2018 for its acquisition of Red Hat Inc., according to data compiled by Bloomberg. The rankings exclude the $51.2 billion bridge loan, which was part of a larger $100 billion debt financing for the failed Broadcom Inc. takeover of Qualcomm Inc. The deal was blocked by President Donald Trump.The Xerox bridge is also the first jumbo acquisition financing to …read more […]