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Lauren Hirsch, CNBC.com’s Posts
Chewy priced 46 million shares at $22 apiece, above the indicative range of $19 to $21 that it had given. The amount of stock offered in the deal was 5 million more than expected, and raised $1 billion.
Former Sears Chairman and CEO Eddie Lampert delivered a letter Thursday to presidential candidate Sen. Elizabeth Warren and Rep. Alexandria Ocasio-Cortez saying accusations that he has not paid severance to Sears employees laid off in the wake of the retailer’s bankruptcy are based on “false” reports.
Activist firm Elliott Management announced Friday it plans to acquire bookseller Barnes & Noble for roughly $683 million, including debt.
Kraft Heinz CEO Bernardo Hees will step down on June 30, marking the embattled company’s most significant executive shakeup since its formation four years ago.
Sears on Thursday lodged a lawsuit against its former CEO, Eddie Lampert, and a string its high-profile past board members, including Treasury Secretary Steven Mnuchin, for allegedly stealing billions of dollars from the once storied retailer.
Blue jeans giant Levi Strauss & Co. began trading Thursday on the New York Stock Exchange at $22.22 a share, after having priced its initial public offering at $17 a share the night before.
Kraft Heinz says it faced pressure from suppliers, delayed projects and rising costs. Investors wonder if there’s a bigger problem.