Wyndham Buys Travel + Leisure From Meredith – Quick Facts
Wyndham Destinations (WYND) has acquired the Travel + Leisure brand and all related assets from Meredith (MDP). The $100 million acquisition will be funded with cash on hand of $35 million paid at closing, with trailing payments completed by June 2024.
In early 2021, Wyndham Destinations will change its name to Travel + Leisure Co. The new Travel + Leisure Co. stock will begin trading under the ticker TNL in mid-February 2021. The deal is anticipated to be neutral to earnings for the new Travel + Leisure Co. in year one and accretive in year two.
Travel + Leisure’s multi-platform media assets will continue to be operated by Meredith.
Simply Good Foods Turns To Profit In Q1
Simply Good Foods Co. (SMPL) reported that its net income for the first quarter of fiscal 2021 was $22.5 million or $0.23 per share compared to a net loss of $4.8 million or $0.05 per share in the prior year.
Adjusted earnings per share were $0.29 compared to $0.22 in the year ago period.
Net sales for the quarter increased to $231.15 million from $152.15 million in the prior year.
Analysts polled by Thomson Reuters expected the company to report earnings of $0.21 per share and revenues of $209.72 million for the first-quarter. Analysts’ estimates typically exclude special items.
The company updated its outlook for the first half of fiscal 2021. Assuming U.S. consumer movement restrictions remain at the current levels, the company anticipates net sales of $455 million -$465 million and Adjusted EBITDA of $85 million – $90 million.
The company’s previous outlook for the first half of fiscal 2021 net sales and Adjusted EBITDA was $425 million – $435 million and $77 million – $82 million, respectively.
HgCapital Trust To Invest About GBP 15.7 Mln In Prophix – Quick Facts
Hg, the manager of HgCapital Trust plc (HGT.L) said Wednesday it will invest about 15.7 million pounds in Prophix, with other institutional clients of Hg investing alongside HGT through the Hg Genesis 9 Fund. The terms of the transaction were not disclosed.
Prophix is a Canada-based provider of Corporate Performance Management (CPM) software.
HgCapital noted that the investment will reduce its outstanding commitments to invest in Hg transactions to about 582 million pounds, representing 46 percent of the 30 September 2020 pro-forma NAV.
Prophix said it expects HgCapital’s investment to accelerate and scale its growth and fund further development of its product capabilities.
This deal will result in Prophix employees and management participating to acquire the company alongside HgCapital, who will hold the majority investment. This will enable Prophix staff to benefit more directly from the company’s ongoing growth.
This transaction represents Hg’s seventeenth investment in this space in the last 16 years, with total invested capital of over $3.5 billion. Prophix is also the fourth software business based in Canada that HgCapital has invested in over the last 12 months.
Gold slips ₹ 71; silver rises ₹ 156
Gold prices in the national capital fell ₹ 71 to ₹ 51,125 per 10 grams on Wednesday amid rupee appreciation, according to HDFC Securities.
In the previous trade, the precious metal had closed the day at ₹ 51,196 per 10 grams.
Silver, however, gained ₹ 156 to ₹ 70,082 per kg as compared with ₹ 69,926 per kg in the previous day.
The rupee opened on a flat note and appreciated 3 paise to 73.14 against the US dollar in opening trade on Wednesday.
In the international market, both gold and silver were trading flat at USD 1,949 per ounce and silver at USD 27.54 per ounce, respectively.
Jake Tapper Thoroughly Dismantles Trump’s Latest Dishonest Tweet About The Election
President Donald Trump’s latest dishonest tweet about the 2020 election got a thorough debunking from CNN’s Jake Tapper early Wednesday.
Tapper wasn’t having it after Trump tweeted a fantasy scenario of how he could actually end up beating President-elect Joe Biden. (Trump lost the election, despite his lies.)
The CNN anchor went through Trump’s post clause by clause, calling out the falsehoods one by one.
Tapper ended his response with a sarcastic dig: “Otherwise, good tweet.”
People on Twitter cheered Tapper’s tart retort as the reply went viral:
Metallica Fuels Student Protests in Istanbul as Dozens Detained
The music of heavy metal band Metallica has provided the soundtrack as students in Istanbul protest President Recep Tayyip Erdogan’s decision to impose a loyalist as head of a prestigious university.
Songs like “Master of Puppets” and “Sad But True” blazed through loudspeakers at the Bogazici University campus on Wednesday, as students demanded the resignation of its new president, Metallica fan Melih Bulu.
Bulu, a ruling AK Party activist, was appointed over the weekend. The musical dig followed a TV interview on Tuesday where he said he has no intention to upend the university’s culture.
“I am a rector who listens to hard rock, to Metallica,” he said.
If the band’s music has become the protests’ soundtrack, then the image of police officers handcuffing a gate of the university has become their iconic image. Police have detained dozens of protesters and raided some demonstrators’ homes since Tuesday.
Chef Albert Roux Dies at 85
London (AP) — Albert Roux, the French-born chef and restaurateur who along with his late brother Michel had a profound influence on British dining habits, has died. He was
Roux died Monday after being unwell for a while, his family said in a statement Wednesday.
The brothers are widely credited with revolutionizing Britain’s staid and old-fashioned culinary scene, notably with their opening of Le Gavroche in London in 1967, a restaurant that was frequented by a loyal clientele that included many of the icons of the Swinging Sixties in London.
In 1982, Le Gavroche became the first British restaurant to be awarded three Michelin Stars. Le Gavroche, which is now run by Albert’s son, Michel Jr., is still considered one of London’s most coveted places to dine.
Michel Roux Jr., said his father’s was “a mentor for so many people in the hospitality industry, and a real inspiration to budding chefs, including me.”
The Michelin Guide tweeted that Albert Roux, along with his late brother who passed away last year at the age of 78, “was a father of the U.K. restaurant industry and his legacy will live on through the many chefs who passed through his kitchen.”