Yesterday, Hershey rejected Kraft spinoff Mondelez’s $23 billion takeover offer, but the dealmaking efforts may not be over. The success of any increased offer lies in the hands of the Hershey Trust Company, a charitable trust that controls roughly 81% of the voting power of the famed chocolatier. Mondelez has reportedly pledged to keep jobs and HQ in Pennsylvania and to retain the Hershey name – NYTimes and WSJ
HUD’s giving underwater homeowners a bit of a lifeline by requiring that private buyers of delinquent mortgages consider a series of options that would help keep people in their homes and avoid foreclosure – NYTimes
The Bank of England’s Mark Carney has signaled that the UK’s central bank could cut interest rates within months in an effort to protect its economy from the political and financial fallout due to Brexit – Bloomberg
It’s been a rough week for Williams Companies. First ETE officially killed its $38 billion merger with Williams. Now half of Williams’ Directors have resigned after a failed effort to oust the company’s CEO, Alan Armstrong – NYTimes and WSJ
Forget the VCs. Private Equity’s dropping some serious cash on tech companies these days—accounting for 46% of all US buyouts so far this year – WSJ
It was a long and treacherous road for former Lazard banker Antonio Weiss into public service, but the people of Puerto Rico are no doubt thrilled that he finally made it – Bloomberg
We’ve got a number on that Lionsgate/Starz deal: $4.4 billion (we’ve also got a pretty good idea of who may have helped structure it) – NYTimes
Speaking of deals, talks are reportedly underway between Apple and Tidal for Apple to acquire Jay-Z’s somewhat ill-fated streaming music service. The terms of any potential deal (and the chances of its success) are unknown – WSJ
The odds-making’s begun in the contest to see which city will take over from London as the center of the European financial world now that the Brexit’s a reality – NYTimes
Enjoy this historical look at the “many faces” of the resurgent Alexander Hamilton as found in the archival collections of 4 NY institutions—just in time to celebrate the founding – NYTimes
Have a great holiday weekend. See you back here on Tuesday.
