Thoma Bravo to take cybersecurity firm Proofpoint private in $12.3 billion deal
(Reuters) – Private equity firm Thoma Bravo said on Monday it would buy cyber security firm Proofpoint Inc in an all-cash deal valued at about $12.3 billion, at a time when remote working has boosted demand for network security.
Proofpoint shareholders will receive $176 per share held, indicating a premium of about 34% to the stock’s last close.
The transaction is expected to close in the third quarter, the company said.
Chefs’ Warehouse Acquires M.F. Foley Company – Quick Facts
The Chefs’ Warehouse, Inc. (CHEF) has acquired substantially all of the assets of M.F. Foley Company Inc. Based in New Bedford, Massachusetts, Foley Fish is a staple purveyor of seafood products to restaurants across the country.
Christopher Pappas, Chairman and Chief Executive Officer of The Chefs’ Warehouse, said: “Foley’s uncompromising dedication to quality aligns perfectly with our focus of supplying the world’s best ingredients to North America’s top chefs and will become a centerpiece of our strategy to grow the seafood category nationally.”
Punjab, India, has set a 6 p.m. weekday curfew and ordered a full weekend lockdown as COVID-19 cases surge
- The government of Punjab, India, has ordered residents to stay inside after 6 p.m. on weekdays.
- The government is also issuing a full weekend lockdown, from Friday at 6 p.m. to Monday at 5 a.m.
- The curfew and lockdown come as COVID-19 cases and deaths skyrocket across the country.
- See more stories on Insider’s business page.
The government of Punjab, India, has ordered a lockdown as COVID-19 cases surge across the country.
The state ordered a 6 p.m. to 5 a.m. weekday curfew and a full weekend lockdown from Friday at 6 p.m. to Monday at 5 a.m., Chief Minister of Punjab Amarinder Singh said on Twitter.
“Urge you all to stay at home & step out only if absolutely necessary. Seek your full cooperation,” he said.
India recorded more than 350,000 new COVID-19 cases on Sunday, marking the fifth day in a row the county broke world records for daily COVID-19 cases.
Durable goods orders bounce back in March
Intel CEO: Probably two years for industry to work through chip shortage
Pat Gelsinger joins ‘Barron’s Roundtable’ to discuss the global chip shortage
Orders for durable goods, big-ticket items that last at least three years, returned to growth in March, boosting investor confidence that the U.S. economy continues to recover from its sharpest slowdown of the post-World War II era.
New orders for manufactured goods increased $1.4 billion, or 0.5%, to $256.3 billion, the U.S. Census Bureau said. Analysts surveyed by Refintiv had expected a 2.3% rise.
Orders for non-defense capital goods excluding aircraft, an indicator of business spending plans, rose 0.9% month over month, bouncing back from a 0.8% decline in February as winter storms snarled economic activity across Texas and other southern states.
Core capital goods orders spiked 10.4% from a year ago.
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Meanwhile, shipments of computers and electronic products slipped 0.1% last month and motor vehicle shipments increased 5.8%, indicating the economy is weathering the global chip shortage.
The report was the latest to show the resilience of the U.S. economy. Recent reports have shown record retail sales and factories operating at levels not seen in years.
Stock Alert: 12 ReTech Gains 22%
12 ReTech Corp. (RETC) shares are trading higher on Monday morning, continuing an uptrend since April 16. There were no specific corporate announcements today to influence the share movement.
Currently, shares are at $0.0033, up 24 percent from the previous close of $0.0017. For the 52-week period, the shares have traded in a range of $0.0001-$0.0045 on average volume of 90,250,883.
Why bitcoin could triple over next year
New York (CNN)After a five-day losing streak, bitcoin was up about 8% Monday morning to $53,600.
Last week, the cryptocurrency tumbled below $50,000 for the first time in a month — a steep decline from its all-time high above $64,000 that it reached in mid-April.
And although the past couple of weeks have been a roller coaster for the cryptocurrency, bitcoin has skyrocketed in value this year as it gained more mainstream acceptance.
Crypto enthusiasm spiked at the beginning of April as trading platform Coinbase went public at a valuation of $86 billion, followed by a wild 500% rally in Dogecoin — a digital asset that was created as a joke in 2013. Cryptocurrency backers have spent years insisting that bitcoin, ethereum and other digital coins could revolutionize the world of finance, and with the success of Coinbase’s Wall Street debut, those backers are finally having their moment.
Tesla has started accepting bitcoin payments for its cars, and the company also holds some of the digital currency on its balance sheet. Payment processors including PayPal (PYPL), Mastercard (MA) and Visa (V) are trying to streamline crypto payments on their networks. Meanwhile, Goldman Sachs will reportedly soon offer its private wealth management clients avenues to invest in bitcoin and other digital currencies, and Morgan Stanley announced it will offer its wealthy clients access to bitcoin funds.
Supreme Court to Hear Case on Carrying Guns in Public
The justices, who have not issued a major Second Amendment ruling since 2010, will hear a challenge to a New York gun control law.
By Adam Liptak