KKR Said to Hold Flora Business for Longer to Tackle Debt Pile
The private equity firm shelved a sale of Flora Food Group — previously called Upfield Group — last year, after negotiations on a $10 billion sale to Abu Dhabi's sovereign wealth fund fell apart due to price disagreements. KKR was considering either an initial public offering or minority stake sale, with a listing to take place in 2025 at the earliest, Bloomberg reported at the time.
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Bloomberg
2 hours ago
- Bloomberg
KKR Taps Goldman's Murata as First Japan Hire for Private Credit
KKR & Co. has hired Goldman Sachs Group Inc. 's Ken Murata as a managing director for its credit business in Japan, as the country becomes a key market for the private credit boom in Asia. Murata will start in September and report to Diane Raposio, head of Asia credit and markets, according to New York-based KKR. Murata is the alternative asset manager's first hire in Tokyo to focus on the private credit business.
Miami Herald
3 hours ago
- Miami Herald
American Eagle jumps most since 2000 after Trump praises Sydney Sweeney ad
American Eagle Outfitters Inc. shares jumped the most since 2000 on Monday after U.S. President Donald Trump touted the company's ads - pushing the retailer's stock into meme stock territory. The shares spiked 24% on Monday after Trump said in a social media post that American Eagle's recent marketing blitz with actress Sydney Sweeney is the "HOTTEST ad out there." He said American Eagle jeans are "flying off the shelves." It's not yet clear whether the ad campaign – which controversially celebrates Sweeney's genetic traits as well as her jeans – is actually convincing shoppers to buy the company's apparel. Analysts say the real test will be how American Eagle performs during the crucial back-to-school season as consumers begin to stock up on jeans and other autumn essentials. So while Trump's comments on Monday don't reveal any new information about the company's performance, they do add to the hype around American Eagle shares. And that's drawn investors betting on the hype itself – a telltale sign of a meme stock. "What are meme stocks for the most part? Individual investors chasing after the hottest stock," said Matt Maley, chief market strategy at Miller Tabak & Co. Monday's move pared the stock's year-to-date decline to 20%. The company has been battered by sluggish demand and last quarter it registered a $75 million charge related to a writedown of its spring and summer merchandise. Some traders who drove up the shares on Monday are probably betting that the spotlight on the company will translate into greater sales. But that alone doesn't explain the magnitude of the share move, Maley said, adding that American Eagle executives should seize on the interest by, for example, issuing more shares. Meme stock darlings AMC Entertainment Holdings Inc. and GameStop Corp. have done this in the past. Representatives for American Eagle didn't immediately respond to a request for comment. "In the short term, traders are very adept at chasing hype," said Steve Sosnick, chief strategist at Interactive Brokers. "If one believes that the more this is talked about, the better it is for the stock, then that certainly is a boon." "Whether or not that translates into more or fewer people buying the actual products" after Trump weighed in won't be clear for "days, weeks or quarters," he added. The interest in American Eagle is likely to continue, even if there's not another major precipitating event like a social media post by the U.S. president. "The momentum is there," Maley said. "Today's marketplace with algorithmic trading, not only does it create buyers, but it eliminates sellers." While Sweeney, a sought-after face for brands, has provided a pop for stocks in the past, those gains haven't always endured. A year ago, footwear company Crocs Inc. disclosed Sweeney as a global spokesperson for its HEYDUDE line. The stock rose 4.1% on the day of the announcement, but since then, shares are down nearly 30%. (With assistance from Janet Freund.) Copyright (C) 2025, Tribune Content Agency, LLC. Portions copyrighted by the respective providers.
Business Upturn
4 hours ago
- Business Upturn
HCM III Acquisition Corp Announces Closing of $253,000,000 Initial Public Offering
STAMFORD, Ct, Aug. 04, 2025 (GLOBE NEWSWIRE) — HCM III Acquisition Corp (Nasdaq: HCMAU) (the 'Company'), a blank check company whose business purpose is to effect a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, announced today the closing of its previously announced initial public offering of 25,300,000 units, including 3,300,000 units issued pursuant to the full exercise by the underwriter of its over-allotment option. The units were sold at a price of $10.00 per unit. The Company's units began trading on August 1, 2025 on the Nasdaq Global Market under the symbol 'HCMAU'. Each unit consists of one Class A ordinary share and one-third of one redeemable warrant. Each whole warrant is exercisable to purchase one Class A ordinary share of the Company at a price of $11.50 per share. Only whole warrants are exercisable and will trade. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq Global Market under the ticker symbols 'HCMA' and 'HCMAW,' respectively. The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company's efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value. The Company is led by Shawn Matthews, Chairman and Chief Executive Officer; and Steven Bischoff, President and Chief Financial Officer. Cantor Fitzgerald & Co. acted as sole bookrunner for the offering. A registration statement relating to the securities was filed with, and declared effective by, the Securities and Exchange Commission ('SEC') on July 31, 2025. The public offering is being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from: Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at [email protected]. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About HCM III Acquisition Corp HCM III Acquisition Corp is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus on identifying businesses which provide disruptive technology or innovations within the financial services industry. The Company's efforts will be focused on acquiring established businesses that it believes are fundamentally sound, but in need of assistance to maximize their potential value. FORWARD-LOOKING STATEMENTS This press release contains statements that constitute 'forward-looking statements.' Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the 'Risk Factors' section of the Company's registration statement filed with the SEC and the preliminary prospectus included therein. Copies of these documents are available on the SEC's website, The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law. Media Contact: Steven Bischoff [email protected] Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash
