Friday headlines include: Boeing considering buying a supplier, Weatherford moving from Switzerland to Ireland, GlaxoSmithKline firing some workers in China, Target lawsuits being combined in Minnesota and McDonald's closing its Crimean restaurants.
Aircraft maker and defense contractor Boeing (BA) is reportedly considering acquiring Mercury Systems (MCRY). Mercury has a market capitalization of about $440 million. The company provides digital signal and image processing systems to Boeing and a number of its competitors. In addition to the cost savings Boeing would realize from acquiring a supplier, the company would also gain Mercury's microprocessor business, which makes technology that can be used in the red-hot market for unmanned aerial vehicles.
Oilfield services firm Weatherford International (WFT) plans to move its legal headquarters to Ireland from Switzerland, while also delisting its shares from the stock exchange in Zurich. Shareholders will be asked to approve the change at a special shareholder meeting in June, with the regular meeting, the company's first as an Irish company, schedule for September.
Pharmaceutical giant GlaxosmithKline (GSK) fired some of its employees in China for failing to follow the company's rules for expense claims. The firings come as the company is facing allegations of bribery in the country.
A court ruling Thursday by the U.S. Judicial Panel on Multidistrict Litigation will combine 33 lawsuits charging Target (TGT) with failing to protect customers in connection with a massive data breach that exposed the credit card numbers and other personal information of millions of Target shoppers. The order said that by centralizing the lawsuits, the resources of the parties involved will be conserved, while also preventing inconsistent pre-trial rulings and eliminating duplicative discovery.
Fast-food chain McDonald's (MCD) closed all three of its restaurants in Crimea and has offered the workers at those stores the changes to transfer to any other outlet “in Ukraine.” Workers who opt to transfer will be allowed to keep their position salaries and fees and the company will also pay to relocate the workers and their families.