#TrumpMedia merger wins investor approval, netting #Trumppotential windfall
TFG will own ~60% of #TruthSocial, which at its current share price would be worth ~$3.3B.
A lockup agreement will prevent him from selling the shares for 6 months.
A long-delayed move that will open the owners of TruthSocial to stock-market investors & grant Trump a stake worth billions he could use to pay down his #legal#debts.
A #LockupProvision in the #merger will prevent #Trump & other major investors from selling shares for 6 months unless granted a waiver by the post-merger co’s board.
That could limit Trump’s ability to use the windfall to help pay off hundreds of millions he #owes in #legal#judgments. Trump doesn’t have the $ to secure a #bond to delay enforcement of the $464M judgment in NY #fraud case. If he doesn’t post by Mon, #NYAG could seize his #BankAccounts, #RealEstate & other #assets.
"The #merger frenzy has been prompted in part by higher oil prices since Russia’s full-scale invasion of Ukraine two years ago in early 2022. Companies are rushing to use their huge profits to increase output, despite analysis by the International Energy Agency (IEA) that said new #FossilFuel developments would push the world beyond the safe limits of global heating.
The quickest way to increase output is to buy rivals with rights to proven reserves. "
Is there anything in the #PredictionMarkets world that examines the question of if/when there will be a #merger involving 2 or more of the #gafam companies; whether the "Big 5" #TechGiants will become ≤4?
I got spared from being laid off for reasons I still consider odd. Here's the back story.
At my employer, I had been part of a group that pursued its own clients and maintained profitability even when other parts of the company had challenges. My coworkers and I kept utilization levels between 90 and 110 percent. If you are utilized, you are making money. This all got disturbed by an internal merger...
The group we got merged with had been acquired by the company in some years prior. They liked to aim for utilization levels around 60%. In my opinion, hat's pretty low. That means 40% of the time you are a burden to the company. When they were first acquired, finances were ignored.
At the same time they were noticed, the company decided to do a headcount reduction and merge my group with theirs.
The company decided this other group would take the reigns of the merged group and informed them of the need to do a headcount reduction. The group decided to only layoff people that came from my group, leaving thier headcount preserved.
They also decided we were not to work on any of their projects, and instead continue to do what ever the hell we had been doing before.
This is important, keep in mind that we were not working on any of their projects.
Later, I found that the company looked at the average of the utilization numbers to decide on head count amount. That the profitability of the group i was in actually contributed to reducing headcount, while the lack of profitability of theirs contributed to increasing it.
Let's fast forward to late 2019. By this time, more of the original group was gone. I asked to be transferred to another part of the company.
By this time (Dec 31, 2019), I had been in the group for 2.5 years. I was asked to fly to Singapore to assist with installing something. While I was there, we heard about a weird flu that was going around. A few months later, we were told to go home for a few weeks while this COVID thing blew over.
This group, which focused on hospitality and entertainment, saw all their clients put work on pause at once #office#merger#job#layoff
In a matter of weeks, the group was decimated. Their already lower profitability and the loss of all of their clients resulted in most of the group disappearing due to #layoffs in a weeks time. Though COVID resulted in the delay of me being xferred out, I was fine. I had plenty of work to do. For me the problems came in 2021. That's when some of their clients came back and wanted the half-finished projects completed.
By this time, there were only 3 developers left from that group if you include me (ugh!). I got asked to finish their work. I discovered they had been deceptive about their actual completion percentage. It took me half a year to sort through the mess they left behind.
After that was over, I went back to doing my normal work.
Disruption came at the end of September when I was on a list of people to be laid off.
The company had concluded that the type of work that the group had done just wasn't profitable. They decided to nolonger do that type of work. Additionally, the remaining people from the group generally didn't adapt to other types of work. They decided to get rid of all of them.
THIS INCLUDES ME!!!
But someone was looking out for me (in a literal way). One of the internal recruiters had problems with the decision. She submitted my name for a position.
I found myself being interviewed for a position I never applied for. Those with knowledge of layoffs are generally contractually obligated not to disclose this information. Finding my interview was a few days after everyone of the remaining people from the group got removed, I inferred what was going on. I played along and did the interview. I didn't get that position, but it had serverd it's function. It delayed my layoff to be at the end of October.
A life science venture investor is merging two of its biotechnology portfolio companies to form a single developer of nanoscale medications with programmable properties.
The value of mergers and acquisitions in the global technology sector rose for the first time in over a year in the second quarter of 2023, while M&A deal counts dropped somewhat.