FT News Briefing Tuesday, November 12
Nov 12, 2019
Key players in finance are shaking things up as Cerberus seeks to replace Deutsche Bank’s chairman, while KKR eyes a $70 billion bid for Walgreens. WeWork is on the hunt for a new CEO, potentially bringing in T-Mobile’s John Legere. In political news, the UK elections are unfolding amid Brexit tensions, affecting voter priorities as they move from economic concerns to more pressing issues like the NHS and environmental matters. The campaign trails are heating up, with public sentiment rapidly shifting!
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Cerberus Pushes for Deutsche Bank Chairman's Replacement
- Cerberus, Deutsche Bank's third-largest shareholder, wants Chairman Paul Achleitner replaced.
- Other major shareholders, including Qatari royals and BlackRock, also express negative views on his performance.
KKR's Record-Breaking Bid for Walgreens
- KKR proposed a $70 billion buyout of Walgreens Boots Alliance, potentially the largest private equity takeover ever.
- KKR would need other investors to finance this record-breaking deal, similar to the TXU buyout in 2007.
WeWork Eyes T-Mobile's Legere as CEO
- WeWork is considering T-Mobile CEO John Legere as their new head, among other candidates.
- Legere has prior dealings with SoftBank, WeWork's biggest investor, through the T-Mobile-Sprint merger.