By Ben Glickman
Paramount Global said it would sell book publisher Simon & Schuster to KKR for $1.62 billion in cash, confirming a prior report by The Wall Street Journal. Paramount said the proceeds from the deal would in part help reduce the company’s debt, as it seeks to cut costs and pivot to streaming. Paramount shares climbed 4%, to $16.74, in after-hours trading.
Tilray Brands said it would buy eight beer and beverage brands from Anheuser-Busch InBev in a cash transaction. The cannabis company didn’t disclose the terms of the deal, which includes brands such as Shock Top and Breckenridge Brewery. Shares of Tilray rose 11%, to $2.46, in after-hours trading Monday.
Alteryx said that its customers cut back on large expansions at the end of the quarter. Chief Executive Mark Anderson said on a call with analysts that there was a “pronounced change” in buying habits related to larger customers in the last few weeks of the second quarter. Shares tumbled 22%, to $29.33 after-hours.
Write to Ben Glickman at [email protected]
Read the full article here
