Toshiba Says $14 Billion Takeover Bid by JIP Succeeds, Set to Go Private
Toshiba has successfully completed a $14 billion tender offer from private equity firm Japan Industrial Partners, paving the way for the company to go private. The JIP-led consortium saw 78.65% of Toshiba shares tendered, giving the group a majority of over two-thirds, which would be enough to squeeze out remaining shareholders. The deal puts the 148-year-old electronics-to-power stations maker in domestic hands after years of battles with overseas activist investors. Toshiba is set to be delisted as early as in December.
To read the full article, visit the Reuters Website.
Office Depot Parent ODP CEO Takes Temporary Leave of Absence for Medical Procedure
ODP Corp. CEO Gerry Smith is taking a medical leave of absence due to an unspecified procedure that will require several weeks of recovery time. The company, parent of Office Depot and OfficeMax, announced the change in leadership. Joseph Vassalluzzo, ODP’s non-executive chairman of the board, will assume Smith’s authority and responsibilities until he returns from his leave. Smith joined ODP in early 2017 after 11 years at Lenovo, leaving that company as executive vice president and chief operating officer.
To read the full article, visit the CRN Website.
Amazon Launches Generative AI to Help Sellers Write Product Descriptions
Amazon is utilizing generative AI to assist sellers in creating product descriptions, using a large language model technology. The feature, which has been tested and used by most sellers, includes titles, item details, and bullet point lists.
To read the full article, visit the Retail Drive Website.
Uber Eats adds Staples to Deliver Office and School Products Nationwide
Staples US Retail Stores will be available for shopping on Uber Eats, allowing parents and caregivers to have last-minute school supplies delivered to their doorsteps. The platform offers thousands of items for scheduled or on-demand delivery, with Uber One members benefiting from a $0 Delivery Fee and up to 10% off STAPLES orders of $15 or more. The partnership aims to provide convenience and reliability for consumers and small businesses, making Staples a reliable solution for home office, business, and classroom needs.
To read the full article, visit the Yahoo Finance Website
