Rival wireless carriers Sprint and T-Mobile have ended their merger talks after failing to agree on which side would have majority ownership of the combined company. SoftBank-owned Spirnt and Deutsche Telekom-backed T-Mobile had been involved in extended active talks about a stock-for-stock merger that would have left Deutsche Telekom as the majority owner of both carriers. Last week SoftBank’s board met and reversed their position, determine they wanted majority control. T-Mobile didn’t like that idea very much and on Monday its board decided to call off the talks. The two companies have walked down the merger road before, in 2014 the two companies tried to merger but the $32 billion transaction collapsed amid antitrust concerns.
Home Sweet Home…
Home Builder Lennar Corp. has agreed to buy CalAtlantic Group for $5.7 billion in a move that will create the country’s large home builder by revenue. The move marks the largest merger of home builders since the financial crisis, a milestone for the recovery of an industry that was hit hard by the housing collapse. The addition of CalAtlantic Group will increase Lennar’s presence in the housing markets it already operates in and will allow the company to move into the top three home builders in 24 of the top 30 markets in the country.
Asia: Asian markets closed flat on Tuesday as investors digested the Bank of Japan’s rate decision and release of China’s Purchasing Manager’s Index.
Europe: European shares closed mixed Monday, as investor reacted to the latest corporate earnings.
U.S: U.S markets closed lower after the Republican’s announced their new corporate tax reform plan would be put into place in stages. DJIA: -85.45 23348.74 Nasdaq: -.2.30 6698. 96 S&P -8.24 2572. 83
Word of The Day:
The collection of stocks, bonds, cash, mutual funds, ETFs, and other investments that an investor owns.
Dinner or Drink:
- 1 part Aged Light Rum
- 1 part Aged Dark Rum
- 1 part 151 Rum
- 1-part Apricot Liqueur
- 3 parts Orange Juice
- 1 dash Lime Bitters
- Orange Peel
- Combine light rum, dark rum, apricot liqueur, orange juice and bitters in a cocktail shaker with ice. Strain into a large glass filled with ice. Top with the shot of Cruzan® 151, then garnish with the orange peel and cherries.
- Garnish: Peel orange rind and lay flat on surface. Take circle cookie cutter and cut circle space out of the peel. Use paring knife to cut mini circles for eyes, nose and jaw of skeleton garnish.