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Facebook asks court to dismiss antitrust lawsuits


Facebook asks court to dismiss antitrust lawsuits
© Andrew Harrer
Facebook asks court to dismiss antitrust lawsuits
Facebook has asked a court to dismiss state and federal antitrust lawsuits that accuse it of abusing its market power in social networking to crush smaller competitors. The social media giant said Wednesday that the complaints “do not credibly claim” that its conduct harmed either consumers or market competition. The antitrust suits, filed in December by the Federal Trade Commission and 48 states, are seeking remedies that could include a forced spinoff of the social network’s popular Instagram and WhatsApp services. “As we said when the FTC and the state attorneys general announced these lawsuits, people around the world use our products not because they have to, but because we make their lives better,” Facebook said in a statement. The FTC suit asserts that Facebook has engaged in a “systematic strategy” to eliminate its competition, in ....

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Hilton Grand Vacations to Acquire Diamond Resorts


Hilton Grand Vacations to Acquire Diamond Resorts
Hilton Grand Vacations Inc. (“HGV” or “the Company”) announced that it has entered into a definitive agreement to acquire Diamond Resorts International, Inc. (“Diamond”) from funds (the “Apollo Funds”) managed by affiliates of Apollo Global Management, Inc. (together with its consolidated subsidiaries, “Apollo”), funds managed by affiliates of Reverence Capital Partners (“Reverence”), and other Diamond stockholders, in a stock-based transaction with an equity value of approximately $1.4 billion
1. Under the terms of the agreement, the Apollo Funds and other Diamond stockholders will receive 34.5 million shares of HGV common stock, subject to customary adjustments.
The acquisition will combine the strength of HGV’s brand and culture with Diamond, the largest independent timeshare operator. Diamond’s 92 leisure resorts and nearly 400,000 owners uniquely complement HGV’s 62 upscale and ....

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