Jun. 30 at 5:09 AM
$SNAP $KKR $MSFT $FOX
TOP 5 WEEKEND STORIES:
1) Hewlett Packard Enterprise (HPE) and Juniper Networks (JNPR) announced they have reached an agreement with the U.S. Department of Justice that, subject to court approval, resolves the DOJ's lawsuit challenging HPE's acquisition of Juniper and clears the way for the transaction to close.
2) U.S. President Donald Trump told Fox News in an interview broadcast that he has found a buyer for the TikTok app, which he described as a group of "very wealthy people" who will be revealed in about two weeks, Reuters reports. Trump said the deal being developed would likely need China's approval to move forward and predicted Chinese President Xi Jinping would likely approve it. Publicly traded companies in the space include: Meta Platforms (META), Pinterest (PINS), Reddit (RDDT) and Snap (SNAP).
3) Torrent Pharmaceuticals and global investment firm KKR (KKR) announced that Torrent has entered into definitive agreements to acquire controlling stake in J. B. Chemicals and Pharmaceuticals, or JB Pharma, from KKR at an Equity Valuation of INR 25,689 crores, followed by a merger of the two entities. The transaction marks a significant step in Torrent's ambition to create a future-ready, diversified healthcare platform combining a deep chronic segment heritage with emerging international CDMO capabilities.
4) Meta is hiring four more artificial intelligence researchers from Microsoft-backed (MSFT) OpenAI, with Shengjia Zhao, Jiahui Yu, Shuchao Bi and Hongyu Ren each agreeing to join the company, Kalley Huang of The Information reports.
5) California Governor Gavin Newsom has filed a
$787M defamation lawsuit against Fox News (FOX), claiming the network defamed him by lying about his phone call with President Donald Trump related to the immigration crackdown, Jonathan Stempel of Reuters reports. The complaint was filed in the Delaware Superior Court and accuses Fox of demonstrating "willingness to protect President Trump from his own false statements by smearing his political opponent Governor Newsom in a dispute over when the two last spoke during a period of national strife."
