Press digest for October 2
RTX•Reportedly, Raytheon won a U.S. Navy contract worth up to $24.4 billion for missile interceptors; other reported items include a downsized ON Semiconductor deal for Synaptics, takeover interest in Mattel and planned Disney television cuts.
1. Navy missile contract
Raytheon, an RTX unit, reportedly won a multiyear contract worth up to $24.4 billion to produce Standard Missile-6 interceptors for the U.S. Navy. The Pentagon is pushing to replenish munitions stockpiles depleted by conflicts in the Middle East.
2. Deal and takeover news
ON Semiconductor will acquire Synaptics for cash rather than stock in a downsized deal. Authentic Brands Group has expressed takeover interest in Mattel and discussed an offer that could value the toy maker at $6 billion or more.
3. Company changes
OpenAI fired three researchers for alleged misconduct, including sharing confidential company information with a third-party AI-safety organization. Paramount CEO David Ellison asked CNN CEO Mark Thompson to remain after Paramount closes its acquisition of Warner Bros. Discovery. Disney is planning a television restructuring expected to result in hundreds of layoffs and division consolidations.
