Private equity firm acquires arts & crafts retailer Michaels in $5 billion deal

  • Google is shaking up its ad business. The tech giant will stop selling ads based on browsing across websites.
  • Retailer Michaels is looking to go private. The arts and crafts giant reached a $5 billion deal with Apollo Global Management to go private. Apollo will acquire Michaels stock for $22 per share as part of the deal.
  • Theater chain Alamo Drafthouse Cinema is filing for Chapter 11 bankruptcy.