Peloton makes biggest purchase with $420M deal
Peloton Interactive Inc. agreed to buy fitness-equipment company Precor for $420 million to gain U.S. manufacturing capabilities and expansion opportunities. The deal is expected to close early next year and is the largest to date for the New York-based maker of pricey
Oscar health startup preparing for IPO
Oscar, the health insurance start-up co-founded by Josh Kushner, said it has filed confidentially for an initial public offering. The New York-based company, led by CEO Mario Schlosser, said it had submitted its draft registration for an IPO to the U.S. Securities and Exchange Commission. Mulberry Health Inc., which does business as Oscar, said it hasn’t determined the size or price range of the offering. Mr. Kushner, managing partner and co-founder of the venture firm Thrive Capital, is the brother of Jared Kushner, son-in-law and senior adviser to President Donald Trump. Oscar had a valuation of $3.2 billion in a 2018 funding round, Bloomberg News previously reported.
Consumer confidence slumps during holidays
A closely watched gauge of U.S. consumer confidence tumbled in December as rising coronavirus cases dragged American optimism to its lowest level since the summer. However, rising pessimism is spreading during the crucial holiday season, which could make or break a number of retailers, airlines, restaurants and other sectors that have been hammered financially during the pandemic. The December reading of 88.6 released by the Conference
Board is a sharp decline from last month, which was revised downward to 92.9, and it is far worse than economists had expected.
Clearlake-backed Janus is merging
Manufacturer Janus International Group LLC, backed by private equity firm Clearlake Capital, is going public through a merger with a blank-check company. Janus, which makes doors and gates for self-storage facilities, will combine with a special purpose acquisition company, or SPAC, called Juniper Industrial Holdings Inc. The combined entity will be valued at $1.9 billion including debt.