Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Hyatt Hotels (H) announced that it has entered into a definitive agreement to acquire Apple Leisure Group from affiliates of each of KKR (KKR) and KSL Capital Partners for $2.7 billion in cash. The transaction is anticipated to close in the fourth quarter of 2021, subject to customary closing conditions. Hyatt noted that the acquisition of “ALG’s asset-light business will meaningfully increase the percentage of revenues and earnings Hyatt will generate from fees. Additionally, Hyatt anticipates fulfilling its current commitment to sell $1.5 billion of hotel real estate in 2021, resulting in a total of over $3 billion of proceeds realized since the asset-sale strategy was announced in 2017 at a combined multiple of over 17x EBITDA as compared to Hyatt’s original estimate of 13x to 15x. Hyatt is further committing to an additional $2 billion in proceeds from the sale of hotel real estate by the end of 2024.” 2. T-Mobile (TMUS) is investigating a claim on an online forum post which says the personal data of over 100 million users have been breached, Reuters’ Aakriti Bhalla reported, citing the company. “We are aware of claims made in an underground forum and have been actively investigating their validity. We do not have any additional information to share at this time,” a T-Mobile spokesperson said in a statement to Reuters. 3. Boeing’s (BA) shares trade nearly 50% below their March 2019 high of $440.62, and few if any Boeing watchers expect the stock, now around $238, to revisit that record in the next few years, Al Root wrote in this week’s edition of Barron’s. But Boeing could rally more than 35% if CEO Dave Calhoun takes bold steps to restore the company’s engineering supremacy and repair its balance sheet, the author noted. Those steps should include building a brand new plane. 4. Disney’s (DIS) “Free Guy” earned an estimated $28.4M from 4,165 North American locations to top the chart as it took in $22.5M overseas for a global total of $51M. This was better than the expected $17M-$20M by Disney and 20th Century Fox. “Free Guy” had been delayed four times because of the COVID-19 pandemic. 5. Carvana (CVNA), Amedysis (AMED), Amyris (AMRS), Booz Allen (BAH), J.B. Hunt (JBHT), Marriott Vacations (VAC), SiteOne Landscape Supply (SITE), Staar Surgical (STAA), Stitch Fix (SFIX), Trex (TREX), Upwork (UPWK), and Wendy’s (WEN) saw positive mentions in this week’s edition of Barron’s.
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