Tag: merger

  • PGA Tour star Rory McIlroy has message about possible LIV merger

    PGA Tour star Rory McIlroy has message about possible LIV merger

    Rory McIlroy has a blunt message for people who are upset with a potential PGA Tour-LIV Golf merger: “Get over it.”

    McIlroy, 35, said those who turned down exorbitant offers from LIV to remain loyal to the PGA Tour should welcome a reunified sport. 

    “I think everyone has just got to get over it, and we all have to say, ‘OK, this is the starting point and we move forward.’ We don’t look behind us, we don’t look to the past,” McIlroy said last week. “Whatever has happened has happened, and it’s been unfortunate. But reunification, how we all come back together and move forward, that’s the best thing for everyone.

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    Rory McIlroy during the final round of the Genesis Invitational at Torrey Pines. (Denis Poroy-Imagn Images)

    “If people are butt-hurt, or have their feelings hurt because guys went or whatever, like who cares? Let’s move forward together and let’s just try to get this thing going again and do what’s best for the game.”

    McIlroy was once one of the most, if not the most, outspoken critics of LIV among PGA Tour players. 

    McIlroy said LIV has ultimately benefited everyone, as the purses for winning PGA events have increased. McIlroy cited the Genesis Invitational as an example, as the purse Ludvig Aberg took home was $4 million, and the overall purse was $20 million. 

    “That would have never happened if LIV hadn’t have come around,” McIlroy said.

    TRUMP ‘NOT A FAN’ OF LIV FORMAT, ON PGA TOUR’S ‘SIDE’ OF DISCUSSIONS, RORY MCILROY SAYS

    Rory McIlroy hits drive

    Rory McIlroy hits his tee shot during the final round of the Genesis Invitational.  (Denis Poroy-Imagn Images)

    Adam Scott, a member of the PGA Tour board, understands if people would be upset about reunification. 

    “I wouldn’t be surprised – or I wouldn’t judge anyone, the members – if reunification happened and they weren’t happy with how it happened,” Scott said.

    “I wouldn’t hold it against anybody if there were negative emotions attached to it, the thought of players coming back.”

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    Adam Scott lines up putt

    Adam Scott lines up his putt on the 11th hole during the first round of the AT&T Pebble Beach Pro-Am at Spyglass Hill Golf Course. (Kyle Terada-Imagn Images)

    Scott was part of a group that met with President Donald Trump about a potential reunification, as PGA Commissioner Jay Monahan asked for Trump to get involved. 

    “It’s not been an easy thing to solve, otherwise we’d have solved it, I believe,” Monahan said. 

    For whenever it gets solved, McIlroy’s message will ring loud and clear to those upset. 

    The Associated Press contributed to this report. 

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  • Nissan, Honda respond to reports of potential merger being scrapped

    Nissan, Honda respond to reports of potential merger being scrapped

    Nissan and Honda responded on Wednesday to reports that a potential merger of the companies could be at risk of being abandoned.

    The Wall Street Journal, citing people familiar with the matter, reported that Nissan was weighing backing out of the memorandum of understanding with Honda and other options after the company found terms put forward by Honda to be “unacceptedable.” Nissan planned to reject an idea Honda had of Nissan being one of its subsidiaries, according to the outlet.  

    The Wall Street Journal, citing people familiar with the matter, reported that Nissan was weighing backing out of the memorandum of understanding with Honda and other options after the company found terms put forward by Honda to be “unacceptedable.” (Getty Images / Getty Images)

    A Reuters report also indicated Nissan could halt discussions. 

    Nissan said Wednesday in a statement to FOX Business the two companies “planned to decide on the direction of the management integration by the end of January, but Integration Preparatory Committee discussions are ongoing.”

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    The integration preparatory committee was set up by Nissan and Honda for discussions of a possible merger. 

    Nissan “aim[s] to finalize our direction by mid-February and will announce it at that time,” the company said. 

    Nissan Logo

    Nissan logo seen on Nissan vehicle parked in Krakow center, on Monday, April 17, 2023, in Krakow, Poland.  ((Photo by Artur Widak/NurPhoto via Getty Images) / Getty Images)

    Honda, meanwhile, said Wednesday that it is “still in discussions,” but declined to provide more details.

    The reports of turmoil came about six weeks after Nissan and Honda revealed they had inked a memorandum of understanding weighing merging their companies via a joint holding company. 

    NISSAN, HONDA ANNOUNCE PLANS TO CONSIDER MERGER

    In late December, the automakers said in a press release that the memorandum “aimed to serve as an option to maintain global competitiveness and for the two companies to continue to deliver more attractive products and services to customers worldwide.”

    A merger of Honda and Nissan, if it comes to fruition, could result in the formation of a company that would be the world’s third-largest automaker. 

    Honda Dealership

    The logo of Honda seen at a dealership store. Honda is a Japanese multinational automotive manufacturing company. (Photo by Igor Golovniov/SOPA Images/LightRocket via Getty Images / Getty Images)

    The companies could seek to “integrate their respective management resources such as knowledge, human resources, and technologies; create deeper synergies; enhance the ability to respond to market changes; and expect to improve mid- to long-term corporate value” should they agree to a merger, Nissan and Honda said in December.

    WHAT A HONDA-NISSAN MERGER COULD MEAN FOR THE AUTO INDUSTRY AND CONSUMERS

    Honda makes vehicles under its namesake brand and Acura. Nissan counts Nismo, Autech and Infiniti among its brands. 

    The number of vehicles Honda produced in 2024 totaled over 3.7 million, the automaker said in late January. Globally, Nissan made over 3.1 million in the same year.

    Honda’s market capitalization hovered around $50.11 billion as of Wednesday. Nissan’s stood at $9.44 billion.