Advertisement
Canada markets closed

  • S&P/TSX

    21,969.24
    +83.86 (+0.38%)
     

  • S&P 500

    5,099.96
    +51.54 (+1.02%)
     

  • DOW

    38,239.66
    +153.86 (+0.40%)
     

  • CAD/USD

    0.7316
    -0.0007 (-0.09%)
     

  • CRUDE OIL

    83.66
    +0.09 (+0.11%)
     

  • Bitcoin CAD

    87,525.38
    -987.98 (-1.12%)
     

  • CMC Crypto 200

    1,383.71
    -12.82 (-0.92%)
     

  • GOLD FUTURES

    2,349.60
    +7.10 (+0.30%)
     

  • RUSSELL 2000

    2,002.00
    +20.88 (+1.05%)
     

  • 10-Yr Bond

    4.6690
    -0.0370 (-0.79%)
     

  • NASDAQ

    15,927.90
    +316.14 (+2.03%)
     

  • VOLATILITY

    15.03
    -0.34 (-2.21%)
     

  • FTSE

    8,139.83
    +60.97 (+0.75%)
     

  • NIKKEI 225

    37,934.76
    +306.28 (+0.81%)
     

  • CAD/EUR

    0.6838
    +0.0017 (+0.25%)
     

Lyft hires investment bank Qatalyst Partners: WSJ

Reuters

(Reuters) - Ride-sharing service Lyft has hired investment bank Qatalyst Partners, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Qatalyst Chairman Frank Quattrone has contacted companies including large automakers about acquiring a stake in Lyft, the Journal said, citing the people. (http://on.wsj.com/299KrRF)

The bank acted as LinkedIn Corp's (NYSE:LNKD - News) financial adviser in Microsoft Corp's (NasdaqGS:MSFT - News) deal to buy LinkedIn for $26.2 bln. That proposed deal was announced earlier this month.

Qatalyst was also Qlogic Corp's (NasdaqGS:QLGC - News) financial adviser, according to Bloomberg, to explore strategic alternatives.

ADVERTISEMENT

Lyft declined to comment and Qatalyst could not be reached for comment outside regular business hours.

General Motors Co (NYSE:GM - News) invested $500 million in Lyft in January and laid out plans to develop an on-demand network of self-driving cars with the ride service.

Lyft said its latest funding round, which took place in January, valued it at $5.5 billion.

(Reporting by Sangameswaran S in Bengaluru; Editing by Matthew Lewis)