SoFi Pays $1.1 Billion for Banking Software Infrastructure Firm Technisys

In an all-stock deal SOFI hoping to revamp the student lender into a full-service bank. SoFi Technologies (SOFI) is acquiring banking-software maker Technisys SA for about $1.1B in an all-stock deal. SOFI is trading $11.39▼ 0.79 (-6.49%) pre-market. SoFi Technologies Inc. is buying banking-software maker Technisys SA for about $1.1 billion, the latest in a string of deals designed to transform the lender into a one-stop financial shop. Last month, the company received an approval to become a national bank through its proposed acquisition of Golden Pacific … Continue reading “SoFi Pays $1.1 Billion for Banking Software Infrastructure Firm Technisys”

Kohl’s Gets $9 Billion Bid 37% Above Market from Activist Hedge Fund

Department store chain Kohl’s Corp received an unsolicited offer from activist hedge fund Starboard Value LP to buy the company Friday. The WSJ reported that sources disclosed a group led by a group controlled by Starboard, Acacia Research Corp. offered to buy Kohl’s for $64 a share in cash. Acacia said it has received assurances from bankers it has financing for the bid. Reuters reported earlier this week that Acacia was exploring a possible bid for Kohl’s. Kohl’s $KSS shares … Continue reading “Kohl’s Gets $9 Billion Bid 37% Above Market from Activist Hedge Fund”

Tencent Cashes Out $16.4 Billion Stake in JD.com

Chinese social-media and gaming giant Tencent Holdings said Thursday it would reduce its stake in JD.com to a little over 2% from the current 17%.and distribute $16.4 billion in JD stock as a dividend to shareholders. JD.com (JD) shares fell by more than 7% Thursday. Tencent (TCEHY) shares were up 4% on the news, though is down nearly 40% since its January high. The move follows technology stocks in China being under pressure because of uncertainty surrounding a regulatory crackdown … Continue reading “Tencent Cashes Out $16.4 Billion Stake in JD.com”

Exxon Puts Texas Barnett Shale Gas Properties Up For Sale

Exxon Mobil on Monday put it’s Barnett Shale holdings that include 2,700 wells across about 182,000 acres in North Texas up for sale. The producing properties are valued at between $400 million and $500 million, according a person familiar with the matter Reuters said. Barnett Shale was the site the first horizontally drilled shale wells. Exxon is in a position to take advantage of skyrocketing natural gas properties across the world. U.S. gas prices are up 75% year to date, … Continue reading “Exxon Puts Texas Barnett Shale Gas Properties Up For Sale”