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- First Step to Final Offer (06/11/24)
First Step to Final Offer (06/11/24)
Brooks Gammill
June 11, 2024
Your weekly round-up of an M&A deal walkthrough, insightful market news summaries, technical quiz questions, and various internship, events, and diversity programs. A key resource to best prepare yourself for finance recruiting. If someone sent you the newsletter subscribe below!
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MARKET NEWS
Apple doubles down on artificial intelligence, announcing partnership with OpenAI
Apple has announced a significant partnership with OpenAI, aiming to enhance its artificial intelligence capabilities. This collaboration will integrate OpenAI's advanced models, including ChatGPT, into Apple's products like Siri and iPhone, marking a major step in AI development for the tech giant. Apple intends to leverage this partnership to stay at the forefront of AI innovation and improve user experiences across its devices. (NPR)
BlackRock, Citadel Securities-backed TXSE Group to launch Texas Stock Exchange
A new national stock exchange, the Texas Stock Exchange (TXSE), is set to be launched by TXSE Group, backed by financial heavyweights BlackRock and Citadel Securities. The TXSE aims to offer an alternative to existing exchanges with advanced technology and competitive pricing. This move highlights the ongoing evolution and competition within the financial markets, aiming to attract a diverse range of traders and investors. (Reuters)
Tesla likely to spend $3 bln-$4 bln on Nvidia hardware this year
Tesla is expected to invest between $3 billion and $4 billion in Nvidia hardware this year, focusing on high-performance computing capabilities for its autonomous vehicles and AI projects. This substantial expenditure underscores Tesla's commitment to advancing its technological infrastructure and maintaining its leadership in the electric vehicle and AI sectors. (Reuters)
M&A Deal Overview
T-Mobile to Acquire US Cellular's Wireless Operations for $4.4 Billion
T-Mobile announced a deal to acquire nearly all of US Cellular’s wireless operations for $4.4 billion. This acquisition includes customers, stores, and 30% of US Cellular’s spectrum assets. US Cellular will retain 70% of its spectrum, 4,400 telecom towers, and equity-method investments. The deal, expected to close in mid-2025, will be funded through cash and up to $2 billion of debt. T-Mobile anticipates $1 billion in cost synergies from this acquisition (Reuters).
TECHNICAL QUESTION OF THE WEEK:
A company has 100 shares outstanding, and its current share price is $10.00. It also has 10 options outstanding at an exercise price of $5.00 each. What is its Diluted Equity Value? |
ADDITIONAL RESOURCES
LAST WEEK TECHNICAL QUESTION OF THE WEEK ANWSER:
Correct Answer - Dilutive - we clicked not enough info by accident ;)