California-based bank holding companies Community West Bancshares and United Security Bancshares have entered into a definitive agreement to merge. Community West Bancshares is the parent organisation of Community West Bank, and United Security Bancshares is the parent of United Security Bank. Under the agreement, United Security Bank will merge with Community West Bank, following the merger of United Security Bancshares with Community West Bancshares. Community West Bancshares and Community West Bank ...

Core Insights - Canaccord Genuity set a price target of $7 for Udemy, indicating an 11.38% potential increase, while downgrading the stock from Buy to Hold [1][6] - Coursera and Udemy announced a merger valued at $2.5 billion, leading to a 21.7% surge in Udemy's stock price [2][6] - The merger is expected to generate over $1.5 billion in pro forma annual revenue and $115 million in annual cost synergies within two years [3][6] Company Developments - The merger aims to enhance offerings for individual learners and enterprise clients, leveraging Coursera's partnerships and Udemy's course marketplace [2][4] - Udemy's stock has fluctuated significantly, currently priced at $6.25, with a market cap of approximately $928 million and a trading volume of 24,489,825 shares [5] Market Context - Despite recent revenue growth, both companies face market challenges, reflected in declining share prices, prompting the merger to address investor concerns [4]

Core Viewpoint - Citizens Business Bank and Heritage Commerce Corp have announced a definitive merger agreement valued at approximately $811 million, aimed at expanding Citizens' presence in the Bay Area and enhancing financial performance [1][2]. Summary by Sections Merger Details - The merger will be an all-stock transaction, with Heritage shareholders receiving 0.6500 shares of CVBF common stock for each HTBK share [2]. - Upon completion, CVBF shareholders will own approximately 77% and HTBK shareholders will own approximately 23% of the combined entity [2]. Strategic Importance - This acquisition is described as the largest in terms of assets in Citizens' history, allowing for comprehensive geographic coverage across major business banking markets in California [2]. - The merger is expected to preserve the local focus and trust inherent in the relationship banking model of both institutions [2]. Financial Projections - The transaction is anticipated to be immediately accretive to Citizens' earnings per share, with projected EPS accretion of 13.2% by 2027 and a strong internal rate of return of approximately 20% [3]. - The tangible book value per share is expected to be 7.7% dilutive, with an earn-back period of approximately 2.5 years [3]. Leadership and Governance - David Brager will continue as CEO of Citizens, while Clay Jones will join as President of the combined organization [4]. - Two current directors from Heritage will join the Citizens' Board of Directors to ensure continuity and representation [4]. Approval and Timeline - The merger has been unanimously approved by the Boards of Directors of both companies and is expected to close in the second quarter of 2026, pending regulatory and shareholder approvals [5]. Advisory Roles - J.P. Morgan served as financial advisor and Manatt, Phelps & Phillips, LLP as legal counsel for Citizens, while Piper Sandler & Co. and Wachtell, Lipton, Rosen & Katz served similar roles for Heritage [6].

Cloud Infrastructure Services Providers in Europe (CISPE) has formally responded in court against the European Commission's (EC) approval of Broadcom's acquisition of VMware. In its submission to the General Court of the European Union (EU), CISPE argues that the Commission failed to adequately assess risks associated with the merger. The organisation contends that Broadcom plans to leverage VMware's established position in server virtualisation software, potentially leading to significant price increas ...

The UK’s anti-trust regulator has found Belgium bakery group Vandemoortele’s planned takeover of Délifrance may hit competition in the country. After the completion of a so-called "Phase 1" investigation, the Competition and Markets Authority (CMA) said the merger “gives rise to a realistic prospect of a substantial lessening of competition". Vandemoortele announced a move for fellow baker Délifrance in March and said the deal would create a €2.4bn (then $2.6bn) group, providing “solutions to retail and ...

Core Points - HNI Corporation and Steelcase Inc. announced preliminary results of shareholder elections regarding merger consideration as part of their merger agreement dated August 3, 2025 [1][2] - The completion of the transaction is subject to approval by shareholders and customary closing conditions [1] Merger Consideration Details - Upon consummation of the transaction, each share of Steelcase class A common stock will be converted into the right to receive either Mixed Consideration, Cash Consideration, or Stock Consideration [2] - Mixed Consideration consists of 0.2192 shares of HNI common stock and $7.20 in cash [2] - Cash Consideration is calculated as $7.20 plus the product of 0.2192 and the volume-weighted average closing price of HNI common stock over a specified period [2] - Stock Consideration is the sum of 0.2192 and the quotient of $7.20 divided by the HNI common stock reference price [2] Election Results - As of the election deadline, 95,489,941 shares of Steelcase Common Stock elected to receive Mixed Consideration, including those who failed to make a proper election [6] - 8,018,090 shares elected to receive Cash Consideration [6] - 11,968,798 shares elected to receive Stock Consideration [6] Company Background - Steelcase Inc. is a global leader in design and manufacturing of workplace furnishings, aiming to improve work environments [4] - HNI Corporation has over 75 years of experience in manufacturing workplace furnishings and residential building products, operating in two segments: Workplace Furnishings and Residential Building Products [7]

Core Viewpoint - The EU regulator is reviewing concessions from Belgium bakery group Vandemoortele regarding its takeover of Délifrance, with a new deadline set for assessment on 18 December [1][2]. Group 1: Regulatory Review - The European Commission's competition arm was notified of the takeover deal in October, although it was initially announced by Vandemoortele in March for an undisclosed amount [1]. - A provisional deadline of 18 December has been established for the regulator to assess the commitments submitted by Vandemoortele on 27 November [2]. - The Commission indicated that the takeover could fall under merger regulation based on a preliminary examination and invited third-party comments within a ten-day window, which has since passed [3]. Group 2: Company Overview - Vandemoortele stated that the merger with Délifrance would create a bakery group valued at €2.4 billion ($2.7 billion), aimed at providing solutions to retail and foodservice partners [4]. - Délifrance, a subsidiary of Vivescia Group, reported a turnover of approximately €930 million for the year ending in June [4]. - Délifrance operates 14 production facilities and employs over 3,200 staff, while Vandemoortele has 28 manufacturing plants and 3,500 workers, with its bakery products generating an estimated turnover of €1.4 billion [5]. Group 3: Recent Acquisitions - Vandemoortele has expanded through recent acquisitions, including Bunge's European margarine and spreads business in March and Italian frozen bakery producer Lizzi in February [5]. - The company also acquired Italian bakery business Dolciaria Acquaviva and a majority stake in New Jersey-based Banneton last year [6]. - The combination with Délifrance will enhance Vandemoortele's offerings in viennoiseries, Danish pastries, and artisanal breads [6].

Merger Investigations - Axalta Coating Systems Ltd. is set to be acquired by Akzo Nobel N.V., with shareholders receiving 0.6539 shares of AkzoNobel for each share of Axalta owned. The investigation focuses on whether the Axalta Board breached its fiduciary duties by not conducting a fair process and whether the deal provides fair value to shareholders [2] - Green Dot Corporation will be acquired by Smith Ventures and CommerceOne Financial Corporation for $8.11 in cash and 0.2215 shares of the new bank holding company. The investigation examines if the Green Dot Board failed in its fiduciary duties regarding the fairness of the deal [4] - Blue Foundry Bancorp is being acquired by Fulton Financial Corporation, with each share of Blue Foundry exchanged for 0.6500 shares of Fulton. The transaction is valued at approximately $243 million, or $11.67 per share, and the investigation looks into the Blue Foundry Board's fiduciary duties and the fairness of the deal [6] - Golden Entertainment, Inc. will be acquired in a sale-leaseback transaction, with stockholders receiving a total of $30.00, including a fixed exchange ratio of 0.902 shares of VICI common stock and a cash distribution of $2.75. The investigation concerns whether the Golden Entertainment Board breached its fiduciary duties in the deal process [8]

Core Viewpoint - Bed Bath & Beyond, Inc. is set to acquire The Brand House Collective, Inc. in a merger aimed at creating a more profitable and customer-focused retail entity, with an equity value of approximately $26.8 million based on stock prices as of November 21, 2025 [1][8]. Company Strategy and Leadership - The acquisition is seen as a significant step towards building a profitable, growth-oriented "Everything Home" company, with expectations to eliminate over $20 million in duplicate costs [2][6]. - Amy Sullivan is expected to lead the new division, Beyond Retail Group, focusing on omni-channel retail operations across various brands [4][5]. Operational Efficiency and Cost Reduction - The merger is projected to unlock at least $20 million in cost savings by removing duplicated functions and operational inefficiencies [6]. - More than 40 underperforming or non-strategic stores are identified for closure in early 2026 to support bottom line improvement and inventory optimization [7]. Transaction Details - The merger agreement stipulates that shareholders of The Brand House Collective will receive 0.1993 shares of Bed Bath & Beyond common stock for each share they hold [8]. - Bed Bath & Beyond has advanced $10 million to The Brand House Collective to fund store conversions and support operations [9]. Timeline and Approvals - The transaction is expected to close in Q1 2026, pending shareholder approval and other customary closing conditions [10].

Merger Agreements and Investigations - Golden Entertainment will be acquired by Blake L. Sartini and VICI Properties in a sale-leaseback transaction, with stockholders receiving $30.00 per share, consisting of 0.902 shares of VICI common stock and $2.75 in cash [2] - Brighthouse Financial will be acquired by an affiliate of Aquarian Capital for $70.00 per share in an all-cash transaction valued at approximately $4.1 billion [4] - Forge Global Holdings will be acquired by Charles Schwab Corporation for $45 cash per common share [6] - Hologic will be acquired by Blackstone for $76 per share in cash, plus a contingent value right potentially worth up to $3 per share, totaling up to $79 per share [8] Investigations on Fiduciary Duties - Investigations are ongoing regarding whether the boards of Golden Entertainment, Brighthouse Financial, Forge Global Holdings, and Hologic breached their fiduciary duties by failing to conduct a fair process and whether the deal considerations provide fair value to shareholders [2][4][6][8]