FT News Briefing Thursday, June 27
Jun 27, 2019
Boeing faces troubles with its 737 Max as another flaw is uncovered. Activist investor Carl Icahn aims to shake up Occidental Petroleum's board by targeting four members. Meanwhile, private equity deal-making soars to levels unseen since before the financial crisis. A spotlight shines on AbbVie’s bold $63 billion acquisition of Allergan, revealing the motivations and market reactions driving this monumental deal in the pharmaceutical sector.
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Boeing 737 MAX Setback
- Boeing's 737 MAX faces another setback after test pilots found a flaw in the anti-stall system.
- This system is implicated in two fatal crashes, causing further delays and financial losses for Boeing.
Carl Icahn vs. Occidental Petroleum
- Carl Icahn is campaigning to remove four Occidental Petroleum board members.
- He criticizes the board's handling of the Anadarko deal, particularly the lack of shareholder vote.
Private Equity Boom
- Private equity dealmaking reached its highest level since before the 2008 financial crisis.
- This surge is driven by cheap borrowing costs and investors seeking high returns, despite economic uncertainty.