U.S.-based Standard Industries makes waves to start the new week with the announcement that its German rival Braas Monier Building Group has accepted its bid of €25.27 a share in cash. To monitor the crowd’s sentiment of this deal, stay tuned to Sentifi.
Standard Industries: German roof maker accepts $1.15 billion offer
Standard Industries, the U.S.-based owner of North America’s largest roof maker GAF Materials Corp., will solidify its position as a leading manufacturer of roofing products with the acquisition. Previously in January, the company also acquired its Danish rival Icopal for €1 billion.
Air Berlin Plc.: Thomas Winkelmann replaces Stefan Pichler as CEO
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Pichler decided to leave the company after having worked for two years on the strategic turnaround of the group. Winkelmann will pick up the implementation of those measures to secure sustainable and profitable future for the company. The company’s shares traded up 5.36 percent following the announcement.
Saudi Telecom Group: Invests $100 million in Uber rival Careem
The government-controlled telecomunications company announced an investment of $100 million in Middle East-based ride-hailing app Careem Networks FZ, effectively pushing its value to $1 billion. This investment is the latest in a trend where investors are pumping cash into Middle Eastern technology start-ups to profit from the region’s high economic growth and smartphone penetration rates.
British Airways: Holds talks with union to avert Christmas strike
The cabin crews of British Airways planned a strike on Christmas Day and Boxing Day, Dec. 26, which the company is hoping to avert. The strike could result in more than 2,500 members walking off the job. The talks aim to resolve the dispute over pay. According to statistics from the Office of National Statistics of the U.K., 281,000 days have been lost to strike up until Oct. 31 this year, compared to last year’s 170,000.
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