Southern Cross acquires Grupo Expansion from Time Southern Cross Group and Time (TIME) announced that Southern Cross is acquiring Grupo Expansion, a Time unit, subject to regulatory approvals. Terms were not disclosed.
Citi sees much less probability of Meredith acquiring Time Citi analyst Jason Bazinet reduced his probability of Meredith (MDP) acquiring Time (TIME) to 20% from 65%. Time's moves to cut costs and monetize assets bring less opportunity for Meredith to create value, the analyst tells investors in a research note. He lowered his price target for Buy-rated Time to $29 from $30 and Neutral-rated Meredith to $47 from $57. Bazinet still believes Time is an attractive investment as a standalone company.