Tuesday's Headlines: The Habit is bought for $375 million

Tuesday's Headlines: The Habit is bought for $375 million

  1. We're barely a week into the new year but we've already had the first acquisition of 2020 from our shortlist of stocks. Yesterday morning, Yum Brands announced that it had acquired The Habit Restaurants in an agreement worth about $375 million. This all-cash deal works out at about $14 per share of The Habit and will see the burger chain join a line-up of impressive brands at Yum that include Taco Bell, KFC, and Pizza Hut. Check out the press release here. 
     
  2. Speaking of acquisitions, it has been reported by the Financial Times that Warren Buffett passed on the opportunity to acquire Tiffany & Co when the company was looking for a buyer last year. The luxury jeweler approached Buffett's Berkshire Hathaway after receiving a takeover bid from LVMH, but despite having previously bought $250 million worth of Tiffany bonds in 2009, Buffett declined the offer to buy out the company completely. Much ado has been made in recent years about Berkshire Hathaway's ever-growing cash pile, which now sits at a record $128 billion, and what Buffett might eventually spend it on. Read the original report here
     
  3. 2019 was a whopper year at the box office for Disney, with the company pulling in a global total of $11.9 billion. This record-breaking figure was driven by a host of blockbusters from almost every part of the empire's arsenal of intellectual property, including Marvel's 'Avengers: Endgame', Lucasfilm's 'Star Wars: The Rise of Skywalker' and reimaginings of old classics like 'Aladdin' and 'The Lion King'. Domestically, Disney earned 33% of all box-office grosses for 2019, well-ahead of its closest competitor Warner Bros (13.7%). More here

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