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Wall Street Breakfast

Big day for deals

Wall Street Breakfast

Seeking Alpha

Business News, News, Business, Investing

4.11K Ratings

🗓️ 16 January 2024

⏱️ 6 minutes

🧾️ Download transcript

Summary

The week kicks off with M&A in technology and fast food. (0:15) Boeing stock slumps below major technical support. (4:02) Barclays picks stocks for the second wave of AI. (5:05)

Show Notes
Empire State Manufacturing Survey drops to levels not seen since 2020
Goldman Sachs Q4 earnings beat, helped by asset and wealth management unit
Apple continues drop even as it surpassed Samsung as 2023's top phone maker

Episode transcripts seekingalpha.com/wsb
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Transcript

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0:00.0

Welcome to Seeking Alpha's Wall Street Lunch. Our afternoon update on today's market action news and analysis.

0:09.0

Good afternoon. Today is Tuesday, January 16th, and I'm your host Kim Khan. Our top story so far.

0:17.0

It's a big day for deals. Ancis wrote as a middle report that Synopsis has finalized terms for acquiring the software

0:23.6

company. Synopsys will pay about $19 billion in cash and $16 billion in

0:28.3

synopsis stock for Ancis, according to a Reuters report citing people familiar

0:32.3

with the matter.

0:33.0

The deal will value ANSI's at slightly more than $400 a share.

0:37.0

The deal may take as long as 24 months to complete

0:40.0

to give the company's time to gain antitrust clearance.

0:43.0

Burger King Owner Restaurant Brands International struck a deal to acquire

0:46.8

Carroll's Restaurant Group and a deal with an aggregate total enterprise value of

0:50.7

$1 billion. The deal price is is 955 per share for Carols and

0:55.1

represents a 23.1% premium to the stock's 30-day volume-weighted average price.

1:01.7

Carols is the largest Burger King franchisee in the United States today,

1:05.0

operating 1,222 Burger King restaurants at 23 states that generated about

1:10.3

$1.8 billion of system sales during the 12 months ended September 30th,

1:14.8

2023. Carols also owns and operates 60 Popeye's restaurants in six states.

1:20.9

And car rental company, 6th, struck a deal with Stellantis for the purchase of up to 250,000 vehicles.

1:27.0

The German company said the deal lays the foundation for further global expansion.

1:32.0

Sixth can buy up to 250,000 vehicles for its rental fleet in its corporate countries

1:36.7

across Europe and North America over the next three years.

1:39.9

First significant delivery volumes will take place as early as the first quarter of

...

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