B2B M&A, Product Launches and Appointments for December 10, 2020
Undoing Acquisitions: The big news in acquisitions today is about undoing them. The FTC is suing Facebook for “illegal monopolization” through acquiring WhatsApp and Instagram. The efforts come following a cooperative investigation by 46 states and 2 territories of the US. The B2B implications are highlighted because, in the words of the FTC, the company’s behaviour “deprives advertisers of the benefits of competition.”
FTC press release: https://www.ftc.gov/news-events/press-releases/2020/12/ftc-sues-facebook-illegal-monopolization
Security Services Sagas Continue: Canadian firm GardaWorld has lost its take-over bid for the UK-based G4S to its rival Allied Universal Security Services. Allied is paying 245p per share. GardaWorld had offered 235p last week. The deal is worth 3.8 billion GBS. G4S has faced recent controversies due to its management of UK COVID-19 testing sites and four British prisons.
G4S investor relations release:https://www.g4s.com/investors/offers
Drama Leads to Drinking: With shake ups in both the social media and the security industries happening, the increase in drinking that has been noted since the pandemic began can only increase. LibDib, a Silicon Valley start-up, has developed a B2B platform to distribute wines and spirits to restaurants, bars and retailers. It appointed B2B veteran David Cross as its new CTO earlier this week.
LibDib Appointment Notice: https://libdib.com/blog/new-cto/
