bankruptcy

New On The Block Raizen, a Brazilian joint venture between Shell plc (NYSE:SHEL) and Cosan SA (NYSE:CSAN), tapped JPMorgan to shop around its Argentinian oil refinery and gas stations network. Bloomberg recently reported that the company is undergoing a "profound" portfolio revision, citing CEO...

New On The Block Boeing (NYSE:BA) is seeking to sell Insitu, a maker of small, long-range military drones, per Bloomberg. The Arlington County, Virginia-based aerospace company acquired Insitu in 2008. Since then, the business has gone on to make drones for various military, including Ukraine...

Dynamic Aerostructures, which makes high-tech parts for U.S. fighter jets and SpaceX rockets, has filed for bankruptcy. What Happened: According to Bloomberg, the Valencia, California-based company plans to auction itself off in a court-supervised sale. Dynamic is owned by a private equity firm,...

New On The Block The New York Giants are seeking to sell up to a 10% ownership stake. The Giants, regarded as one of the most valuable sports teams in the world because of their history and the New York City market, have hired Moelis & Co. as their banker. Per ESPN, the Mara and Tisch families...

New On The Block PharmChem, Inc. (OTC:PCHM), the go-to name for drug-detecting sweat patches, is officially exploring strategic alternatives (i.e., mergers, acquisitions, or an outright sale). So far, the board of directors expressed confidence that it can handle things solo as opposed to hiring a...

New On The Block Sage Therapeutics, Inc. NASDAQ: SAGE) is officially exploring "strategic alternatives" to make shareholders happy. The process includes anything from a possible business combination to a full-on sale. Who’s interested? That would be Biogen Inc. (NASDAQ:BIIB), which submitted...

It seems even the mighty Guinness isn't immune to a hangover from the economic times. Diageo, the global booze behemoth, is reportedly considering selling or spinning off its iconic beer brand. The deal could fetch a frothy $10 billion, according to Bloomberg. The reasons? Inflation and health...

Canoo Inc. (NASDAQ:GOEV) shares are trading lower in the premarket session on Tuesday after the electric vehicle company filed for Chapter 7 bankruptcy. What Happened: The filing, made with the U.S. Bankruptcy Court in Delaware, initiates the liquidation of Canoo's assets under the supervision of a...

President Joe Biden prioritized freeing non-violent drug offenders during his final few days in the White House, but TikTok? That's President-elect Donald Trump's problem now. According to the Associated Press, Biden has no intention of enforcing the ban, which takes effect on his last full day in...

New On The Block Vera Bradley Inc. (NASDAQ:VRA) sales are down. The handbag brand’s largest shareholder, Fund 1 Investments LLC, isn’t happy about it. A Dec. 30 letter to the board referred to co-founder Barbara Bradley Baekgaard‘s designs as “iconic” and “...

Bankruptcy Block Party City Holdco Inc., the one-stop-shop for all things celebration, is calling it a wrap. The company’s 700 stores are holding going-out-of-business sales. This is the second time Party City filed for Chapter 11 bankruptcy protection in two years. In 2023, a restructuring...

New On The Block Honeywell (NASDAQ:HON) is back at it again with big plans and boardroom brainstorms. This time, the Charlotte, North Carolina-based company is considering sending its aerospace business off to fly solo. Recently, Honeywell unveiled plans to spin off its Advanced Materials business...

Furnishing and retailer Big Lots Inc.’s (OTC:BIGGQ) Chapter 11 bankruptcy filing in September and impending store closures could benefit a close competitor, a Wall Street analyst says. What Happened: On Sept. 9, Big Lots filed for Chapter 11 and announced a subsequent sale of its assets...

It's a rare scenario when someone conducting M&A due diligence becomes CEO of the company. But that’s exactly what happened when Mohaimina (Mina) Haque went from Tony Roma's legal advisor to overseeing the entire restaurant chain. In 2020, Tony Roma’s landed on the auction block...

New On The Block Dental supply maker Patterson Companies Inc (NASDAQ:PDCO) announced Thursday that it is exploring strategic options, including a sale or merger, to boost shareholder value. The company disclosed the deal process as part of its second-quarter financial report. Updates From The Block...