Greg Abel, Warren Buffett's successor at Berkshire Hathaway ($BRK.B), has invested approximately $2.8 billion in Delta Air Lines ($DAL) despite surging fuel costs pressuring the sector — a direct reversal of Buffett's 2020 pandemic-era exit from all airline positions. On the same day, Appaloosa Management disclosed it had sold its entire positions in Delta, American Airlines ($AAL), and United Airlines ($UAL).
LY Corp and Bain Capital sweetened their bid for Japanese price-comparison and restaurant-review platform Kakaku (2371.T) to ¥3,232 per share, valuing the company at approximately $4 billion and topping EQT's competing offer of ¥3,000 by 7.7%. Kakaku shares rose to ¥3,450 on the news. LY cited AI's rise as making Kakaku's data and platforms of extremely high strategic value. EQT's tender, backed by major shareholders Digital Garage and KDDI (38.1% combined), remains live.
eBay's board rejected GameStop CEO Ryan Cohen's unsolicited $56 billion offer of $125 per share in a cash-and-stock deal, calling it neither credible nor attractive in a formal letter from chairman Paul Pressler. Moody's labeled the deal credit negative for eBay due to the implied leverage surge, while Wall Street analysts questioned the strategic rationale. Cohen warned he may take the bid directly to eBay shareholders.
Kone $KNEBV agreed to buy TK Elevator for 29.4 billion euros ($34.4 billion), a deal that would create the world's largest elevator maker. Thyssenkrupp shares rose 8%, while Kone said the combination could deliver EUR 700 million of annual run-rate synergies.
RE/MAX $RMAX rose about 22% after The Real Brokerage $REAX agreed to buy the company in a cash-and-stock transaction valuing it at about $880M. The combined group says it would have generated roughly $2.3B of 2025 revenue and $157M of adjusted EBITDA before synergies.
Organon $OGN rose about 31% before the bell after Sun Pharma $SUNPHARMA agreed to pay $14 a share in cash, valuing the target at $11.75B including debt. Sun said the combination would create a $12.4B-revenue pharma group with a larger women’s-health and biosimilars footprint.
Shell $SHEL agreed to buy ARC Resources $ARX for $16.4B, adding about 370,000 boe/d and roughly 2 billion boe of reserves. The cash-and-stock deal is set to lift Shell's production CAGR through 2030 to 4% and add about $250M of annualized synergies within a year of closing.
A high-scoring r/StockMarket post surfaced Amazon $AMZN's expanded Anthropic deal: $5B immediately, up to $20B more, and more than $100B of AWS commitments over 10 years.
A federal judge blocked Nexstar Media Group $NXST from further integrating Tegna $TGNA while an antitrust case proceeds. The $6.2B deal would combine 228 stations reaching 80% of U.S. TV households, according to court filings and state attorneys general.
Schroders $SDR shareholders approved Nuveen's £9.9B acquisition with 99.92% of Scheme Shares voted for the Court Meeting resolution and 99.93% support at the General Meeting. The deal still needs court sanction and remaining conditions before the expected Q4 2026 close.
Intertek $ITRK rose 12.6% in London after confirming it rejected EQT's indicative £51.50-a-share cash proposal. The UK testing group said the offer fundamentally undervalued the company, while EQT faces a May 14 UK takeover deadline.
Globalstar $GSAT rose more than 9% in premarket trading after Amazon agreed to acquire the satellite operator for about $11.57 billion. The deal values Globalstar at $90 a share, or 0.3210 shares of $AMZN stock, and folds its spectrum assets into Amazon Leo.