M & A

Disney to Sell Miramax for Over $660 Million

Fri, 30 Jul 2010 08:26:41 EDT

Walt Disney Co has agreed to sell Miramax, the studio behind such films as "Trainspotting" and "No Country for Old Men," for more than $660 million to Filmyard Holdings LLC...

UPDATE 3-Australia's GrainCorp Buys AWB to Create Wheat Giant

Fri, 30 Jul 2010 02:30:29 EDT

Australia's GrainCorp has agreed to buy smaller rival AWB in an A$855 million ($769.6 million) surprise deal to bulk up against big global rivals like Bunge Ltd, Cargill and Glencore...

M&A Terms: Reverse Takeovers Drive Forward

Fri, 30 Jul 2010 02:00:00 EDT

Reverse takeovers are on the uptick, as is the legal complexity that rides alongside them, sometimes stopping them in their tracks. Fueling this is an increase in UK cash shells, and both LSE and AIM companies benefit…

Li Ka-shing to Buy EDF's UK Grids for $9.1 bln

Fri, 30 Jul 2010 02:00:00 EDT

Billionaire Li Ka-shing has offered to buy UK power grids from France's EDF for 5.8 billion pounds ($9.1 billion), giving his companies a foothold in more lucrative overseas markets...

Volkswagen to Hoard Cash Ahead of Porsche Deals

Thu, 29 Jul 2010 12:26:40 EDT

Volkswagen will keep adding to its more than $20 billion cash pile as it girds for an acquisition spree that could help it overtake Toyota as the world's number one carmaker before the decade is out...

China Approves Geely's Plan to Buy Volvo

Thu, 29 Jul 2010 11:03:58 EDT

China's Ministry of Commerce has approved a plan by the parent of Geely Automobile to acquire Ford's Volvo unit, the official Xinhua news agency said...

Clearwire, Best Buy in Wireless Partnership

Thu, 29 Jul 2010 10:43:32 EDT

Clearwire Corp has agreed to rent space on its network to Best Buy Co Inc so that the electronics retailer can sell wireless services directly to consumers, the companies said...

Hertz Says Reviewing Avis' Offer for Dollar Thrifty

Thu, 29 Jul 2010 08:55:18 EDT

Hertz Global Holdings Inc is reviewing Avis Budget Group Inc's bid for Dollar Thrifty Automotive Group, a company spokesperson told Reuters...

Panasonic Buying Sanyo and Other Unit for $9.4 Billion

Thu, 29 Jul 2010 08:44:58 EDT

Japan's Panasonic Corp said it would buy out subsidiaries Sanyo Electric and Panasonic Electric Works for up to $9.4 billion in cash and shares to accelerate its push into greener businesses...

PartyGaming, Bwin Eye U.S. After $3.3 Billion Tie-Up

Thu, 29 Jul 2010 08:08:27 EDT

Britain's PartyGaming and Austria's bwin unveiled a deal to create a $3.3-billion online gaming business, positioning them to profit from any deregulation of a lucrative U.S. market...

BSkyB Taps High Definition Demand and Signs HBO Deal

Thu, 29 Jul 2010 04:15:13 EDT

Pay-TV firm BSkyB added 90,000 customers in the fourth quarter on surging demand for high definition services, and sees new American dramas fuelling growth ahead of a possible takeover...

Private Equity Watch: Turning Excess Gas Into Gold

Thu, 29 Jul 2010 02:00:00 EDT

Quicksilver Resources is attempting to turn its excess gas into gold. The Texas-based natural gas and oil exploration and production company recently entered into a...

Regulatory Watch: New Reporting Rules for Mineral Sector

Thu, 29 Jul 2010 01:00:00 EDT

Mining, petroleum and mineral companies looking to list on the Hong Kong Stock Exchange now must comply with additional reporting standards…

Restructuring Watch: Wabtec Climbs Aboard the G&B Train

Thu, 29 Jul 2010 00:15:00 EDT

Buying assets from a business in financial distress may require special protections and provisions, as illustrated by...

Aegis in Talks to Buy Australias's Mitchell

Wed, 28 Jul 2010 21:20:50 EDT

British media buying group Aegis is in late stage talks to buy Mitchell Communication Group, its Australian rival, for 200 million pounds ($312.4 million), the Daily Telegraph said...

Conoco Selling Lukoil Stake, Profit Tops Street

Wed, 28 Jul 2010 10:02:43 EDT

ConocoPhillips, the third-largest U.S. oil company, said it will sell its entire stake in Russian oil major Lukoil in a bid to boost shareholder returns and reported better-than-expected quarterly profit...

Chalco Shares Suspended Amid Rio Tinto Tie-Up Talk

Wed, 28 Jul 2010 04:39:32 EDT

Shares of Aluminum Corp of China Ltd (Chalco) were suspended, as its state-run parent said it would hold a signing ceremony on Thursday likely to be attended by Rio Tinto executives...

Telefonica Clinches Deal to Buy Brazil's Vivo

Wed, 28 Jul 2010 04:26:41 EDT

Spain's Telefonica appears to have won its long battle for a bigger share of the Brazilian market after raising its offer for Portugal Telecom's stake in mobile operator Vivo to 7.5 billion euros...

Aviva Aims to Boost Stake in India JV

Wed, 28 Jul 2010 03:45:46 EDT

Aviva Plc, Britain's second largest insurer, wants to boost its stake in its Indian joint venture to 49 percent as soon as regulations allow, its chief executive told Reuters in an interview...

Soros May Buy 4 Percent in BSE for $35-40 Million

Wed, 28 Jul 2010 02:07:44 EDT

Billionaire financier George Soros is in advanced talks to buy a 4 percent stake in Bombay Stock Exchange (BSE) for $35-$40 million...

M&A Watch: GM Locks Up AmeriCredit Merger

Wed, 28 Jul 2010 02:00:00 EDT

General Motors does not want to leave things to chance when it comes to its announced $3.5 billion merger with AmeriCredit. The auto giant has locked up...

Hess Corp to Buy American Oil & Gas in Stock Deal

Wed, 28 Jul 2010 01:00:00 EDT

Hess Corp said it will acquire American Oil & Gas Inc in a stock deal worth about $445 million and boost its acreage in the North Dakota Bakken shale oil play...

Global Agribusiness: Profit Takeaway Lost in Delivery

Wed, 28 Jul 2010 01:00:00 EDT

Somehow, the philosophy of ‘everyone’s gotta eat’ has not been translating into gushing profits for the world’s agribusiness conglomerates. Cutthroat competitors Archer Daniels Midland, Cargill and Bunge, among others, are reporting something in common to shareholders…

MGM Resorts to Sell Atlantic City Land for $73 Million

Tue, 27 Jul 2010 19:00:00 EDT

Casino operator MGM Resorts International plans to sell the land under its joint-venture Borgata resort in Atlantic City, New Jersey, for about $73 million...

Disney Buying Playdom for at Least $563 Million

Tue, 27 Jul 2010 19:00:00 EDT

Walt Disney Co will acquire start-up Playdom Inc for $563.2 million, as the media giant aims to take a leading role in the fast-growing market for games played on...

HGI Changes Hands in $850 Million Private Equity Deal

Tue, 27 Jul 2010 15:15:00 EDT

Private equity firms Clayton, Dubilier & Rice and Goldman Sachs' unit GS Capital Partners are to buy medical products provider HGI Holdings from another buyout firm...

UK-Business Summary

Tue, 27 Jul 2010 12:29:09 EDT

U.S. housing data boosts global stocks...

Barclay Brothers Sell InterContinental Stake

Tue, 27 Jul 2010 10:00:00 EDT

The billionaire Barclay brothers sold their 10.4 percent stake in InterContinental Hotel Group Plc for 335 million pounds ($520 million), sending shares in the...

Merck Ties With Sinopharm to Boost China Presence

Tue, 27 Jul 2010 08:45:00 EDT

Merck & Co said it struck a deal with Sinopharm Group Co Ltd to market the U.S. drugmaker's cervical cancer vaccine and other vaccines in China...

Telecom Software Groups Merge in App Store Battle

Tue, 27 Jul 2010 08:31:24 EDT

Two telecom operator-backed software groups are merging to counter increasing competition from new rivals Google and Apple for mobile phone applications...

Ageas Sells Turkish Insurance to BNP Paribas

Tue, 27 Jul 2010 01:30:05 EDT

Ageas, formerly known as Fortis, has agreed to sell its Turkish insurance business to BNP Paribas, a further step in the Belgium-based group's streamlining of its operations...

Kazakhstan to Boost Caspian Oil Tanker Fleet

Tue, 27 Jul 2010 01:05:12 EDT

Kazakhstan aims to handle half of the Caspian Sea's commodity cargoes by 2013 after expanding its fleet of oil tankers with the help of private investors...

JGBs Little Changed, Data Eyed Afer Stress Tests

Mon, 26 Jul 2010 22:15:00 EDT

Japanese government bonds were little changed in a market struggling to find short-term cues after the results of European bank stress tests and ahead of economic data at...

DLF to Buy Out Dubai World in JV

Mon, 26 Jul 2010 12:39:56 EDT

DLF is buying out the stake held by Dubai World's property arm in an equal joint venture in India for about 2 billion rupees ($43 million)...

Dubai World Document Reveals Price of Failure

Mon, 26 Jul 2010 12:33:51 EDT

Dubai World warned that lenders, aside from the government's own support fund, would face a "significantly" worse deal if its debt plan fails and it is forced to seek liquidation...

Pace Buys U.S. Broadband Co 2Wire for $475 Million

Mon, 26 Jul 2010 11:27:11 EDT

Pace, the world's largest set-top box maker, has agreed to buy U.S. broadband technology firm 2Wire for $475 million to broaden its customer base beyond cable and satellite into the Internet TV market...

Lion to Buy Picard in Biggest French LBO Since 2008

Mon, 26 Jul 2010 11:11:27 EDT

BC Partners has agreed to sell French frozen-food firm Picard Surgeles to rival Lion Capital, highlighting the keen appetite of private equity firms to strike deals in the recession-resilient food industry...

Icahn to Sue Lions Gate Over Note Exchange

Mon, 26 Jul 2010 11:07:35 EDT

Billionaire Carl Icahn accused Canadian-headquartered Hollywood studio Lions Gate Entertainment Corp of using "scorched-earth" tactics to thwart his takeover bid for the company, and pledged legal action...

Khazanah Wins Battle for Parkway; Fortis Bows Out

Mon, 26 Jul 2010 10:21:23 EDT

Malaysian state investor Khazanah trumped India's Fortis Healthcare in a takeover battle for Singapore's Parkway with an offer that values Asia's biggest listed hospital operator at $3.3 billion...

British Potato Vodka Targets Lucrative U.S. Market

Mon, 26 Jul 2010 05:15:36 EDT

William Chase, owner of the only premium potato-based vodka distillery in Britain, plans to take on much larger, mass-produced luxury brands in the U.S. market, Chase told Reuters...

M&A Terms: Two-Stepping From the Top Up

Mon, 26 Jul 2010 02:30:00 EDT

Dancing the M&A two-step is all the rage these days. And acquirers have a way of ensuring that they come out on top – via “top-up” options…

Carlyle Sells Taiwan TV Unit for $1.9 Billion

Mon, 26 Jul 2010 01:45:00 EDT

Carlyle Group has agreed to sell Kbro, Taiwan's largest cable TV operator, to the controlling shareholder of Taiwan Mobile in a deal worth about...

PRC Outbound Investment Tide in Tough Regulatory Seas

Mon, 26 Jul 2010 01:30:00 EDT

Much of the US$55 billion in outbound investment, invested in the first half of 2010 by Chinese entities, can be credited to agile corporate counsel. Navigating through the maze of China’s outbound investment laws, these lawyers…

M&A Watch: Thompson Looks to Enter New Terrane

Mon, 26 Jul 2010 01:30:00 EDT

A recently announced $650 million acquisition of a TSX Venture-listed company serves as a good reminder that early stage or emerging companies are not necessarily small potatoes...

Bahrain to Privatise Gulf Air as Soon as Possible

Mon, 26 Jul 2010 01:00:26 EDT

Bahrain plans to privatise national carrier Gulf Air as soon as possible encouraged by positive results in its restructuring...

AU Says Must Replace Western Partners With China

Sun, 25 Jul 2010 22:30:00 EDT

The African Union said Africa must turn ever more to China for its development because conditions and checks often stalled the flow of funds from Western nations and the World Bank…

Tsai Family to Buy Carlyle's Cable Unit

Sun, 25 Jul 2010 22:00:44 EDT

Taiwan's Tsai family, which controls Taiwan Mobile, will buy Carlyle Group's Taiwan cable TV unit Kbro in a T$65 billion ($2 billion) deal, local media reported...

More Gas for Egypt After BP, RWE Deal

Sun, 25 Jul 2010 12:05:00 EDT

A groundbreaking $9 billion agreement signed by Egypt this week should help it meet growing domestic and foreign gas commitments by boosting supplies and encouraging new exploration...

Qatar OKs Virgin Launch, Wants Changes

Sun, 25 Jul 2010 12:03:17 EDT

Vodafone Qatar and Qatar Telecom on Saturday both welcomed a ruling by regulators in a dispute over Virgin Mobile's entry to the local market, but there were signs the battle may have further to run...

Fraport in Talks With Chinese Partner

Sun, 25 Jul 2010 09:19:57 EDT

German airport operator Fraport is in talks with a Chinese partner as it seeks expansion opportunities overseas, the German firm's chief financial officer told Frankfurter Allgemeine Sonntagszeitung...

Seven Banks Fail Europe's Stress Test

Fri, 23 Jul 2010 13:14:33 EDT

Seven European banks would not be strong enough to withstand another recession and would face a capital shortfall of 3.5 billion euros ($4.5 billion), tests run in an attempt to revive investor confidence...

Rolls-Royce Inks $1.7 Billion in Airshow Orders

Fri, 23 Jul 2010 11:32:44 EDT

British aircraft engine maker Rolls-Royce said it secured $1.7 billion in orders at the Farnborough Airshow, including deals for its Trent 700 engine, the leading engine for the Airbus A330...

Corporate Finance Watch: BP Sells Global Assets to Apache in $7 Billion Deal

Fri, 23 Jul 2010 03:00:00 EDT

BP is building up its war chest to confront the massive cash outlays it faces through a blockbuster deal to sell oil & gas properties in Egypt, Canada and the Permian Basin of Texas, to Apache Corp. for $ 7 billion...

M&A Watch: When Competition Comes Calling, Israel Techs Get Merging

Fri, 23 Jul 2010 00:15:00 EDT

Faced with overwhelming telecom competition, M&A provides a welcome respite. In their corner of VOIP, YMax Corp. and Israel’s VocalTec Communications Ltd. are...

Saving Volvo:Geely Buys Brand and Management Test

Thu, 22 Jul 2010 22:18:54 EDT

One of the toughest struggles in the negotiations was just how interwoven Volvo had become with the wider Ford Motor Group including safety and in-car-entertainment equipment...

JFE to Invest $1 Billion in India's JSW Steel

Thu, 22 Jul 2010 21:12:38 EDT

JFE Holdings Inc, Japan's second-biggest steelmaker, plans to invest about $1 billion in India's JSW Steel Ltd, Bloomberg reported, citing a person with knowledge of the deal...

Sumitomo Mitsui Eyes Stakes in N.Amercian Banks

Thu, 22 Jul 2010 19:56:48 EDT

Sumitomo Mitsui Banking Corp is considering investing in and possibly acquiring major banks in North America, the Nikkei business daily reported...

Acquisition Watch: Israel’s Comverse is Selling, Soros is Buying

Thu, 22 Jul 2010 16:00:00 EDT

Fresh on the heels of its recent $225 million backdating settlement, Israel’s Comverse Technologies continues to pique the interest of global investors…

Couche-Tard Sweetens Takeover Bid for Casey's

Thu, 22 Jul 2010 12:48:47 EDT

Alimentation Couche-Tard Inc said it raised its hostile takeover bid for rival Casey's General Stores to $1.88 billion, in a renewed attempt to clinch a deal with the U.S. convenience store chain...

GM to Acquire AmeriCredit for $3.5 Billion

Thu, 22 Jul 2010 08:29:18 EDT

General Motors Co said it would acquire auto finance company AmeriCredit Corp for $3.5 billion in cash in a deal aimed at easing financing terms for subprime car shoppers...

Pearson Makes $499 Million Leap Into Brazil Schools

Thu, 22 Jul 2010 04:22:35 EDT

British publisher Pearson Plc is investing 888 million Brazilian reais ($499 million) to partner with Sistema Educacional Brasileiro, more than doubling the size of its education business in Brazil...

Minority Report: Buying Shares to Build Business

Thu, 22 Jul 2010 01:30:00 EDT

Global companies, take note of the Agricultural Bank of China’s neat ruse to improve the prospects of its recent Hong Kong IPO…

Restructuring Watch: Nortel Dives While Genband Thrives

Thu, 22 Jul 2010 01:30:00 EDT

Nortel and Genband, two companies headed in different directions, briefly crossed paths at a recent bankruptcy auction. Texas-based Genband has acquired Nortel’s carrier VOIP business – a big step en route to a rumoured 2011 IPO...

Baidu Says Traffic Acquisition Costs to Stay Low

Wed, 21 Jul 2010 20:26:11 EDT

Baidu Inc, China's dominant online search engine, said it expected its traffic acquisition costs to remain at current levels, following a sharp drop over the last year...

Algeria May Tighten Rules on Foreigners' Asset Sales

Wed, 21 Jul 2010 12:35:57 EDT

Algeria is considering tightening its rules on how the price is set when the state buys a foreign-owned firm, a step which could cost Egypt's Orascom Telecom billions of dollars...

Paladin Energy Plans A$27 Million Buyout of NGM Resources

Wed, 21 Jul 2010 12:15:00 EDT

Australia-based Paladin Energy Ltd said it plans to make an offer to buy out the remaining shares of NGM Resources it does not already own for about...

BSkyB Sells Easynet to LDC for 100 Million Pounds

Wed, 21 Jul 2010 11:53:52 EDT

British satellite broadcaster BSkyB has agreed to sell its business-to-business telecoms unit Easynet for 100 million pounds ($153 million) to LDC, a British private-equity firm backing Easynet's management...

Reckitt Agrees to Buy Condom Firm SSL for $3.8 Billion

Wed, 21 Jul 2010 07:15:22 EDT

Consumer goods group Reckitt Benckiser agreed to buy Durex condoms and Scholl sandals maker SSL for 2.54 billion pounds ($3.8 billion) to increase its presence in health and personal care...

EU Appeals Against Ruling in WTO Airbus Case

Wed, 21 Jul 2010 04:35:37 EDT

The European Union appealed on Wednesday against a World Trade Organization ruling condemning its subsidies for Airbus, prolonging a dispute with the United States for at least several more months...

RBS Confirms $7.6 Billion Orders With Airbus and Boeing

Wed, 21 Jul 2010 03:33:51 EDT

British lender Royal Bank of Scotland confirmed it had placed an order worth over $7.6 billion at list prices for 52 Airbus A320 family aircraft and 43 Boeing 737 family aircraft...

Australia a Problem Child for Investors Due to Tax

Wed, 21 Jul 2010 02:15:19 EDT

The conditions look ripe -- debt markets are up, companies' valuations soft -- but foreign private equity firms eyeing deals in Australia may now have to put their plans on...

Etisalat to Spend $163 Million on Sri Lanka Expansion

Wed, 21 Jul 2010 00:27:54 EDT

Emirates Telecommunication Corp., the Arab world's second-largest telecom operator by market value, said on Tuesday it will invest $163 million in an expansion of its Sri Lankan network...

Carl Icahn Renews Hostile Bid for Lions Gate Studio

Tue, 20 Jul 2010 11:52:41 EDT

Billionaire investor Carl Icahn renewed a hostile takeover bid for Lions Gate Entertainment Corp but at a lower price, ending a 10-day truce in a drawn-out battle for the Hollywood studio...

Griffon to Buy Garden Tool Maker for $542 Million

Tue, 20 Jul 2010 10:09:18 EDT

Diversified manufacturer Griffon Corp said it would buy lawn and garden tools maker Ames True Temper from private equity firm Castle Harlan for $542 million in cash...

Nokia Siemens Wins $7 Billion U.S. Deal

Tue, 20 Jul 2010 09:45:50 EDT

Nokia Siemens Networks has won an eight-year contract worth more than $7 billion in the United States, a deal analysts said could be the largest order ever placed in the mobile telecoms gear industry...

What is the Impact of Changes to India's Takeover Rules?

Tue, 20 Jul 2010 08:00:00 EDT

A panel of capital markets regulator Securities and Exchange Board of India set the stage for overhauling the corporate takeover code, potentially making deals more...

Synchronica to Buy Mobile Messaging Firm at Discount

Tue, 20 Jul 2010 04:18:00 EDT

British mobile email software developer Synchronica said it agreed to buy Canadian peer iseemedia for about 5.3 million pounds ($8.1 million) in an all-stock deal to expand in India and South-East Asia...

Deals of the Day -- Mergers and Acquisitions

Tue, 20 Jul 2010 01:40:25 EDT

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by...

M&A Watch: Cott Hopes Cliffstar Deal Will Bear Fruit

Tue, 20 Jul 2010 00:30:00 EDT

Looking to juice itself through an unusual deal, Cott, Canada's national drinks-maker just acquired Cliffstar Corporation of New York for $500 million...

Carlyle Group Buys Brazil Health Firm for $1.2 Billion

Mon, 19 Jul 2010 17:30:00 EDT

Private equity fund Carlyle Group said it had agreed to buy Brazilian health services provider Grupo Qualicorp, seeking to tap into demand from the country's growing middle class...

Etisalat Close to Buying 26 Percent in Reliance Comm

Mon, 19 Jul 2010 12:45:40 EDT

Emirates Telecommunications (Etisalat) is close to buying 26 percent in telecoms firm Reliance Communications...

Reliance Industries in Talks to Buy Stake in Quicksilver

Mon, 19 Jul 2010 12:08:54 EDT

Energy major Reliance Industries is in talks with Texas-based Quicksilver Resources, including for a possible buyout of the U.S. firm that develops shale gas and coal-bed methane...

Onex, CPPIB Eye $4.5 Billion Bid for Britain's Tomkins

Mon, 19 Jul 2010 10:45:51 EDT

Onex Corp and the Canada Pension Plan Investment Board are considering a $4.5 billion takeover bid for UK car parts maker Tomkins Plc as the weak British pound encourages two more...

Ireland's "Bad Bank" Buys More Loans, Anglo Irish Delayed

Mon, 19 Jul 2010 10:00:00 EDT

Ireland's National Asset Management Agency has completed the transfer of a second batch of loans from all participants except nationalised Anglo Irish Bank...

Nokia Siemens Buys Motorola Network Ops for $1.2 Billion

Mon, 19 Jul 2010 09:45:17 EDT

Nokia Siemens Networks is buying Motorola Inc's telecom network equipment business, boosting its position in North America and taking number two spot in the cut-throat mobile gear market...

ATC Technology to Go Private for $513 Million

Mon, 19 Jul 2010 08:17:02 EDT

ATC Technology Corp, an engineering and logistics services provider, said it agreed to be acquired by privately held GENCO Distribution System Inc for about $512.6 million in cash...

Unilever Sells Findus Italy for $1.1 Billion

Mon, 19 Jul 2010 08:15:39 EDT

Unilever has sold its slow growth Italian frozen foods unit Findus to Birds Eye Iglo for 805 million euros ($1.1 billion), reuniting it with the business it sold four years ago to private equity group Permira...

Abu Dhabi, United Technologies in Military Aircraft Repair JV

Mon, 19 Jul 2010 05:02:09 EDT

Abu Dhabi and U.S.-based United Technologies plan an $800 million military aircraft maintenance and repair joint venture based in the United Arab Emirates to service the UAE and other countries...

GDF Suez in Fresh Tie-Up Talks With Intl Power

Mon, 19 Jul 2010 03:34:46 EDT

France's GDF Suez and Britain's International Power have revived talks on a possible tie-up between the two power companies, they said...

M&A Watch: Deepwater Drilling Buoyant in Land of Rising Sun

Mon, 19 Jul 2010 02:30:00 EDT

Perhaps surprisingly, even in this wizened post-BP age, ultra deepwater drilling is going on unabated, leveraging some of the same structures as BP/Transocean…

India: Western Capital Meets Eastern Promise

Mon, 19 Jul 2010 02:00:00 EDT

India is gaining new corporate renown as, via acquisitions and exchanges, its companies migrate worldwide…

China’s Bright Dairy Invests in NZ’s Synlait

Mon, 19 Jul 2010 01:20:00 EDT

Bright Dairy, majority owned by Bright Food Group, will take a 51 percent stake in the milk processing arm of the privately-owned Synlait, which is a small player in the dairy export market dominated by giant co-operative Fonterra…

Banking Watch: Wilbur Ross Buys a Bank, Part Deux

Mon, 19 Jul 2010 00:30:00 EDT

Distressed investor Wilbur Ross continues to build up his banking assets, while keeping Bank Holding Company Act (BHCA) restrictions in mind, to boot…

Khazanah May up Parkway Offer to Stare Down Fortis

Sun, 18 Jul 2010 23:08:42 EDT

Malaysian state investor Khazanah may have to pay more than S$4.00 a share for Singapore's Parkway, or at least 3.1 percent above its share price to ward off rival bidder Fortis Healthcare...

US DOJ Seeks More Details on Mirant-RRI Energy Deal

Fri, 16 Jul 2010 09:50:00 EDT

Independent power producers Mirant Corp and RRI Energy have received a request from the U.S. Department of Justice (DOJ) for additional information regarding their proposed merger...

TPG/Carlyle Lodges Final Healthscope Bid

Fri, 16 Jul 2010 06:45:00 EDT

Private equity firms TPG and Carlyle submitted a final joint bid for Australian hospital group Healthscope, a spokeswoman the consortium...

Electronic Arts Exiting France's Ubisoft

Fri, 16 Jul 2010 06:00:00 EDT

U.S. video games producer Electronic Arts Inc is selling out of Ubisoft Entertainment SA six years after buying a big chunk of the world's third-largest independent...

UK-Business Summary

Fri, 16 Jul 2010 04:31:15 EDT

Wall Street reform clears Congress...

M&A Terms: Breakup Fees, as Deals Pickup

Fri, 16 Jul 2010 03:00:00 EDT

M&A is back in the spotlight after a lackluster 2008 and early 2009. This year, deals such as Aon's $4.9 billion merger with Hewitt Associates and...

Lawyers Bamboozled as PRC Tax Bureau Takes Aim Offshore

Fri, 16 Jul 2010 02:30:00 EDT

A recently enacted tax disclosure law from China is threatening to take the world by storm, even shaking public markets in the U.S., Hong Kong, Canada and Bermuda…

M&A Watch: Avon’s New Bling

Fri, 16 Jul 2010 02:00:00 EDT

The Avon lady just picked out some new bling to add to her empire, which may be coming soon to a home near you...

Emerging Markets: The British are Coming

Fri, 16 Jul 2010 00:15:00 EDT

Buy shares in a leading British company and you might be buying more than you bargained for, as emerging market deals come into play…

Penthouse Owner Offers $210 Million for Playboy

Thu, 15 Jul 2010 18:15:00 EDT

The owner of Penthouse magazine offered to buy rival Playboy Enterprises Inc for $210 million, making a bid that was 13 percent above the buyout proposal from...

Apache Seeking Financing to Buy BP Assets

Thu, 15 Jul 2010 13:25:00 EDT

Oil and gas producer Apache Corp is seeking $6 billion to $7 billion financing to purchase up to $10 billion in assets from BP Plc in a deal that could be announced next week...

Thompson Creek to Acquire Terrane Metals

Thu, 15 Jul 2010 13:18:59 EDT

Molybdenum miner Thompson Creek Metals said it intends to acquire exploration company Terrane Metals in a deal worth about C$650 million ($625 million) as it moves to diversify its commodity exposure...

TPG and Goldman in Deal for Candover's Ontex

Thu, 15 Jul 2010 13:14:53 EDT

U.S. buyout firm TPG and the private equity arm of Goldman Sachs agreed to buy diaper-maker Ontex from rival Candover in the year's largest European buyout...

Egypt's Naguib Sawiris Eyes Poland, Serbia

Thu, 15 Jul 2010 12:48:08 EDT

Weather Investments, the holding company of Egyptian businessman Naguib Sawiris, is considering a move into Poland and Serbia after the success of its mobile operations in Italy...

GE Selling BAC-Credomatic Bank Group for $1.9 Billion

Thu, 15 Jul 2010 11:13:45 EDT

Colombia's Grupo Aval said it would buy the Central America-based banking group BAC-Credomatic, controlled by U.S. giant conglomerate General Electric Co. for $1.9 billion...

Carlyle to Buy Supplements Maker NBTY for $3.8 Billion

Thu, 15 Jul 2010 09:42:50 EDT

U.S. nutritional supplements maker NBTY Inc said it agreed to be bought by Carlyle Group for $3.8 billion in one of the biggest private equity deals so far this year...

Oil Spill Muddies Bank M&A in U.S. Gulf

Thu, 15 Jul 2010 08:30:00 EDT

As the oil from the BP Plc gusher laps onto U.S. Gulf Coast shores, it is also muddying the prospects of Southern bank mergers...

Crunch Time for Australia Health M&A Deals

Thu, 15 Jul 2010 06:20:00 EDT

Two health care takeovers in Australia were reaching a turning point on Thursday with chatter on financing clouding a $1.6 billion bid for Healthscope...

Canada Pension Bids $3.4 Billion for Australia's Intoll

Thu, 15 Jul 2010 05:55:50 EDT

Canada's second-biggest pension manager has revived efforts to buy an Australian toll-road operator with a C$3.5 billion ($3.4 billion) bid for Sydney-based Intoll Group...

Blackstone Pulls Out of Healthscope Bid:

Thu, 15 Jul 2010 05:30:00 EDT

Private equity firm Blackstone Group has pulled out of a consortium bidding for Australia's second-largest hospital owner Healthscope...

Japan's NTT to Buy Dimension Data for $3.2 Billion

Thu, 15 Jul 2010 05:17:16 EDT

Nippon Telegraph and Telephone Corp is buying South African IT firm Dimension Data for up to 2.12 billion pounds ($3.2 billion) to expand into overseas markets, including in fast-growing Africa...

Google, Tata Comm Partner for Some Services in India

Thu, 15 Jul 2010 04:34:28 EDT

Google Inc's Indian unit and Tata Communications TATA will partner to provide web-based business connectivity tools to companies in India, Tata Communications said in a statement...

Disclosure Watch: China Sunergy Price Haggles its PRC Purchases

Thu, 15 Jul 2010 01:00:00 EDT

While some China-based solar companies are infused with enthusiasm towards the PRC green sector, one company is treading carefully. NASDAQ-listed China Sunergy recently…

M&A Watch: Travis Perkins Breaks Ground on Builder Growth

Thu, 15 Jul 2010 00:30:00 EDT

In a deal which promises to turn the tap on UK building sector consolidation through M&A, Travis Perkins, one of the UK’s largest builders’ merchants…

Myerson Gets Rare M&A Ban From Takeover Panel

Wed, 14 Jul 2010 13:44:49 EDT

The takeover watchdog has banned activist investor Brian Myerson and two other investors for three years from merger activity, in its first such sanction since 1992...

Iran Sells 18 Percent Stake in Carmaker

Wed, 14 Jul 2010 12:55:20 EDT

Iran's government has sold an 18 percent stake in Iran Khodro, the Middle East's biggest carmaker, for the equivalent of about $430 million...

Bailed-Out Small Banks Face Takeover Risk

Wed, 14 Jul 2010 11:45:00 EDT

Smaller banks that got U.S. government bailout money are likely to run into trouble repaying it and may become vulnerable to takeovers as a result, a congressional watchdog agency...

EU Executive Clears BA, American, Iberia Deal

Wed, 14 Jul 2010 10:22:15 EDT

Oneworld members British Airways, American Airlines and Iberia won EU antitrust clearance on Wednesday to deepen their pact after agreeing to cede some lucrative trans-Atlantic routes...

EU Approves Comcast Buy of NBC Universal

Wed, 14 Jul 2010 03:31:32 EDT

U.S. cable provider Comcast won EU regulatory clearance on Wednesday for a landmark deal to buy a controlling stake in General Electric's NBC Universal...

Tata Steel Denies $2 Billion Fund Raising Report

Wed, 14 Jul 2010 02:46:24 EDT

Tata Steel denied a media report the company was planning to raise about $2 billion through fresh equity over the next quarter to help fund expansion. "Nothing at this point"...

Healthcare and Generics: Deals and Drugs on Fast Track

Wed, 14 Jul 2010 02:30:00 EDT

Major pharmaceutical deals, like those involving Teva and Pfizer, are unfolding under the twin pressures of healthcare reform in the U.S. and downward price pressure on...

Africa M&A Doubles to $25 Billion in H1, Fees Squeezed

Wed, 14 Jul 2010 02:00:10 EDT

The value of mergers and acquisitions in sub-Saharan Africa doubled in the first half of 2010 from last year, and investment banking fees fell as competition for contracts intensified, according to Thomson Reuters research...

Arrow Approves Takeover by Shell-PetroChina

Wed, 14 Jul 2010 01:36:53 EDT

Arrow Energy shareholders approved a $3.05 billion takeover by Royal Dutch Shell and PetroChina's, clearing the way for a final legal go-ahead due later this week...

PRC Hot Topic: Travel Industry Changes Kick Start M&A Holiday

Wed, 14 Jul 2010 01:30:00 EDT

Summer is turning up the heat in the northern hemisphere. As travelers are packing their bags, legal counsel of PRC hospitality and travel companies have been…

Abu Dhabi Crown Prince Eyes BP Stake

Wed, 14 Jul 2010 01:01:55 EDT

Abu Dhabi's Crown Prince Sheikh Mohammed bin Zayed al-Nahayan is considering an investment in oil major BP...

Guest Analysis: Chinese Developments in Anti-Monopoly Filings Part II

Tue, 13 Jul 2010 17:30:00 EDT

Under China’s Anti-Monopoly Law and the Filing Thresholds Regulations, the State Council has delegated to MOFCOM the right to investigate…

AIG Board to Meet to Consider AIA's Future

Tue, 13 Jul 2010 12:22:26 EDT

The board of American International Group Inc is expected to meet this week to consider the future of the insurer's Asian life business, AIA...

Borders to Sell Paperchase for $31 Million

Tue, 13 Jul 2010 08:42:57 EDT

Borders Group Inc said that it had agreed to sell a British-based retailer of stationery, cards and gifts to Primary Capital Ltd for about $31 million (20.5 million pounds)...

GE, Eaton Among Main Suppliers for China Jet

Tue, 13 Jul 2010 06:00:00 EDT

The venture will be majority owned by Shanghai Aircraft Manufacturing Co, Ltd, a subsidiary of the state-owned Commercial Aircraft Corporation of China (COMAC), with Eaton owning 49 percent…

Deals of the Day -- Mergers and Acquisitions

Tue, 13 Jul 2010 02:05:17 EDT

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by 0600 GMT on Tuesday...

European IPOs: Gambling on Business Risk

Tue, 13 Jul 2010 01:00:00 EDT

Whilst stock market wobbles continue to disrupt the IPO plans of many, a few surprisingly risky companies have managed to get their equity issues off the ground recently…

Essar Energy to Acquire Navabharat Power Pvt. Ltd

Tue, 13 Jul 2010 00:00:00 EDT

Essar Energy plc, the India-focused integrated energy company, today announced that its subsidiary, Essar Power Limited (EPL), has entered into binding agreements for...

Aon to Buy Hewitt for $4.9 Billion, Creating HR Giant

Mon, 12 Jul 2010 10:54:53 EDT

Aon Corp, the world's largest insurance brokerage, said it will buy Hewitt Associates Inc for $4.9 billion in cash and stock to create the world's largest human resources company...

J&J to Buy Micrus Endovascular for $480 Million

Mon, 12 Jul 2010 08:56:36 EDT

Johnson & Johnson will buy Micrus Endovascular Corp for about $480 million to expand its portfolio of medical devices that treat stroke...

Dubai World to Meet Creditors July 22

Sun, 11 Jul 2010 08:29:56 EDT

Troubled state conglomerate Dubai World has invited creditors to a July 22 meeting to offer details on its multi-billion dollar debt restructuring, the first session to include all lenders since December 2009...

SIAS, Benettons to Merge Chile Road Assets

Sun, 11 Jul 2010 05:00:00 EDT

Italy's Benetton family and road operator SIAS plan to merge their Chile highway holdings into a billion-euro company, Il Sole 24 Ore said...

When A-Lists Delist: Abu Dhabi’s Aabar Investment Goes Private

Sun, 11 Jul 2010 01:00:00 EDT

Taking public companies private ascribes new meaning to the Latin maxim, e pluribus unum. Abu Dhabi’s publicly listed Aabar Investments PJSC has announced…

BC and Silver Lake to Buy MultiPlan for $3.1 Billion

Fri, 9 Jul 2010 06:35:41 EDT

BC Partners and Silver Lake are set to buy U.S. healthcare services firm MultiPlan, the private equity firms said on Friday, in the year's largest secondary buyout worth about $3.1 billion...

M&A Watch: China's Lenovo Gets Linkage

Fri, 9 Jul 2010 02:00:00 EDT

Lenovo-affiliate and tech giant AsiaInfo Holdings, Inc. just completed its merger with Linkage Technologies Holdings…

Private Equity, Wealth Funds Chase Banks' Hotels

Thu, 8 Jul 2010 10:15:22 EDT

Banks are set to step up sales of struggling hotels, a boon for buyers such as private equity and sovereign wealth funds pursuing prestigious addresses and higher returns versus other commercial properties...

European Court Says Portugal PT Golden Share Illegal

Thu, 8 Jul 2010 05:28:47 EDT

The European Court of Justice ruled that Portugal's golden share in Portugal Telecom was illegal, opening the way up to a possible conclusion of PT's sale of its Brazilian Vivo unit to Spain's Telefonica...

Mideast Defies Global Aerospace, Defense Slowdown

Thu, 8 Jul 2010 02:29:17 EDT

The global aerospace and defense industry is in slowdown mode but Middle Eastern countries are bucking the trend thanks to heavy investments in the sector and a growing wealthy population...

Istithmar Sells 6.9 Percent in SpiceJet

Thu, 8 Jul 2010 02:14:25 EDT

Dubai's Istithmar sold its 6.9 percent stake in low-cost carrier SpiceJet for $25.3 million...

BP Boss in MidEast Talks, More Progress on Relief Well

Thu, 8 Jul 2010 01:00:00 EDT

BP boss Tony Hayward met officials from an Abu Dhabi state investment fund, the latest stop on a global quest for money to ward off takeovers and help pay the huge costs of the worst oil spill in U.S. history...

Guest Analysis: Chinese Developments in Anti-Monopoly Filings Part I

Wed, 7 Jul 2010 19:00:00 EDT

In early November, 2009, the merger-control regulator of the People’s Republic of China, the Anti-Monopoly Bureau under the Ministry of Commerce, announced…

Deals of the Day -- Mergers and Acquisitions

Wed, 7 Jul 2010 12:24:24 EDT

The following bids, mergers, acquisitions and disposals involving European, U.S. and Asian companies were reported by...

Media Executives See Small Deals as Key to Future

Wed, 7 Jul 2010 10:35:24 EDT

Small-sized acquisitions and strategic buys rather than blockbuster multibillion dollar deals will be on the minds of the media moguls and financiers who gather at this week's Sun Valley conference...

Sweden's Hexagon Buys Intergraph for $2.1 Billion

Wed, 7 Jul 2010 08:19:41 EDT

Swedish measurement systems firm Hexagon AB said on Wednesday it would pay $2.1 billion for U.S. software firm Intergraph to capitalise on expanding demand from energy, security and infrastructure firms...

Total to Buy Oil Sands Firm UTS for $1.4 Billion

Wed, 7 Jul 2010 07:30:00 EDT

Total SA has agreed to buy UTS Energy Corp for C$1.5 billion ($1.42 billion) in cash, twice the amount the French oil major offered for the...

Kraft to Sell Cadbury's Romanian Confectionery Business

Wed, 7 Jul 2010 07:24:24 EDT

Kraft Foods Inc agreed to sell Cadbury Plc's chocolate confectionery business in Romania to Oryxa Capital for an undisclosed amount to meet the European regulatory requirement of its Cadbury acquisition...

Bigger Role Seen for Emerging Financial Centers

Wed, 7 Jul 2010 02:45:00 EDT

London and New York are not about to lose their spots as the world's leading financial centers but they are being challenged by emerging market upstarts in a...

Brazil Watch: Gerdau’s $1.6 Billion North American Acquisition

Wed, 7 Jul 2010 00:30:00 EDT

Brazilian steel producer Gerdau S.A., looking to establish full control of its Canadian JV Gerdau Ameristeel, recently announced that it has…

Cliffs to Buy INR's West Virginia Coal Mine Operations

Tue, 6 Jul 2010 12:45:00 EDT

Iron ore producer Cliffs Natural Resources Inc said it will buy INR Energy's coal mine operations for $757 million, the latest step in its strategy to become a...

Skadden Tops Global Table of Legal Dealmakers in H1

Tue, 6 Jul 2010 11:30:00 EDT

U.S. law firm Skadden, Arps, Slate, Meagher & Flom nailed the most lucrative tally of mergers and acquisitions worldwide in the first half of 2010, advising on $137 billion of deals...

Abertis Buyout Financing at 6-7 Billion Euros

Tue, 6 Jul 2010 10:37:59 EDT

Spanish motorway group Abertis' core owners and private equity firm CVC Capital Partners are set to secure 6-7 billion euros to fund their buyout of the firm next week, in spite of the ongoing global credit squeeze...

Ryanair Could Still Bid for Aer Lingus Despite Ruling

Tue, 6 Jul 2010 09:37:49 EDT

Ireland's Ryanair could still bid for Aer Lingus despite losing a legal challenge to a 2007 veto by EU regulators against the budget carrier's second attempt to buy its rival...

Planeta Gets EU Approval for Deal With Bertelsmann

Tue, 6 Jul 2010 03:21:55 EDT

Spanish publisher Grupo Planeta gained EU regulatory approval on Tuesday for its acquisition of a major stake in Spanish book company Circulo from German media group Bertelsmann...

Gulf Needs Concrete Action for Emerging Market Leap

Tue, 6 Jul 2010 03:08:54 EDT

Gulf stock markets will miss out on getting on the global investment map unless regulators take concrete action to address concerns raised by MSCI, who denied the region emerging market status for the second year running...

Travis Perkins to Buy BSS Group for Â£558 Million

Mon, 5 Jul 2010 09:00:00 EDT

British builders merchant Travis Perkins is to buy BSS Group for an agreed 557.6 million pounds ($845 million) to become the country's biggest plumbing and...

Wilmar to Buy Australian Sugar Unit for $1.47 Billion

Sun, 4 Jul 2010 19:30:00 EDT

Wilmar International has entered an agreement with Australia's CSR Ltd to buy the latter's sugar and renewable energy business for A$1.75 billion ($1.47 billion)...

BP Could Get Backing From Mideast Firms

Sun, 4 Jul 2010 02:17:05 EDT

Troubled oil giant BP could get a reprieve from Middle East financial institutions looking to make a strategic investment in the company...

Egypt's Mobinil Signs Off on Purchase of OT Internet

Sat, 3 Jul 2010 03:49:48 EDT

Mobinil shareholders approved the $130-million purchase of two internet assets from major shareholder Orascom Telecom...

Capital Flows to BRIC Countries H1 2010

Fri, 2 Jul 2010 08:35:42 EDT

Investment flows to the world's four biggest emerging economies -- Brazil, Russia, India and China -- slowed slightly in the first half of 2010 but growth rates and the pace of dealmaking remain strong, data shows...

Brit Rebuffs Second Apollo Approach

Fri, 2 Jul 2010 07:49:04 EDT

Lloyd's of London insurer Brit Insurance said it had rejected an improved takeover proposal from U.S. buyout firm Apollo Management, but signalled it was ready to do a deal at the right price...

M&A Terms: “Environmental Outs” Coming in, Thanks to BP

Fri, 2 Jul 2010 03:00:00 EDT

“Environmental outs” are a rising concern, thanks to BP. No unified response has yet emerged, however, to judge from the PE acquisition of Omni Energy and the just-completed Exxon/XTO Energy deal…

Global Business Watch: Hedge Fund Not “Manly” Enough for a U.S. Listing

Fri, 2 Jul 2010 01:00:00 EDT

The cross-border tie-up of mega-hedge funds Man Group and GLG Partners has moved one step closer to completion. GLG Partners filed its preliminary merger proxy for…

Private Equity Watch: Blue Square’s Propco-Opco Spinoff

Fri, 2 Jul 2010 00:15:00 EDT

The private equity gambit of asset-shifting continues to find opportunistic participants…

Venture-Backed IPOs Show Rebound as M&A Slips

Thu, 1 Jul 2010 13:30:00 EDT

Venture-backed initial public offerings are the highest since before the financial crisis, even as venture-backed M&A activity is slipping, according to a survey by...

Emerson Set to Win Chloride After ABB Withdraws

Thu, 1 Jul 2010 08:11:07 EDT

British company Chloride is to start talks with Emerson Electric after rival suitor ABB pulled out in the face of an improved 997 million pounds ($1.5 billion) offer from the U.S. group...

Tate & Lyle Sells Europe Sugar Refining Ops to U.S.

Thu, 1 Jul 2010 06:51:40 EDT

Britain's Tate & Lyle is selling its European sugar operations to American Sugar Refining for 211 million pounds ($315 million), breaking a 150-year link to sugar in favour of low-calorie sweeteners offering faster growth...

URS Wins Scott Wilson Bid War as CH2M Withdraws Offer

Thu, 1 Jul 2010 02:21:47 EDT

U.S. engineering firm URS Corp won the bidding battle for British consultancy Scott Wilson Group after privately held CH2M Hill withdrew its offer, saying the acquisition no longer added value to the company...

Fortis Makes S$3.2 Billion Offer for Parkway

Thu, 1 Jul 2010 01:09:22 EDT

Fortis healthcarealong with its founders have made an open offer for all of Parkway Holdings for S$3.21 billion (US$2.3 billion), an adviser to the Indian hospital chain said...

Indonesia Works Overtime: State as Regulator-Competitor

Thu, 1 Jul 2010 00:30:00 EDT

When the government both competes and regulates, the outcome of the competition should rarely be in doubt…

Hitachi Sells LCD Panel Venture Stake to Panasonic

Wed, 30 Jun 2010 20:30:00 EDT

Japan's Hitachi Ltd said it would transfer most of its stake in an LCD panel joint venture to Panasonic Corp for $717 million, shrinking its investment in the venture to 5 percent...

Amazon to Acquire Online Store Woot

Wed, 30 Jun 2010 19:30:00 EDT

Amazon.com Inc said it signed an agreement to acquire online store Woot.com, which sells discounted products and operates an online community, for an undisclosed sum...

Nakheel Starts 40 Percent Cash Payments to Creditors

Wed, 30 Jun 2010 10:33:50 EDT

Troubled Dubai developer Nakheel said it has started making cash payments to trade creditors, in the second phase of a repayment schedule, and is restarting several projects put on hold during the downturn...

Celgene to Buy Abraxis BioScience for $2.9 Billion

Wed, 30 Jun 2010 08:21:02 EDT

Celgene Corp agreed to acquire Abraxis BioScience Inc for $2.9 billion in cash and stock to expand its oncology pipeline, the companies said...

Boeing to Acquire Argon ST for $775 Million

Wed, 30 Jun 2010 07:55:58 EDT

Boeing Co said it agreed to acquire defense manufacturer Argon ST Inc for about $775 million to expand its surveillance and intelligence offerings...

Indo-Canadian Deals: Timid Relations, the Beaver and the Bengal

Wed, 30 Jun 2010 02:30:00 EDT

An agreement signed at the G20 summit last weekend between the Prime Ministers of Canada and India is expected to have a direct impact on deals between the two countries involving the sale of commodities, equipment and expertise...

Moratorium Sinks as Deepwater Industry Sails On

Wed, 30 Jun 2010 02:00:00 EDT

With BP as backdrop, deepwater drilling is gushing forward, incongruously driven by both Noble Corp and Judge Barton Feldman of Louisiana…

Restructuring Watch: Extended Stay Readies to Check Out of Bankruptcy

Wed, 30 Jun 2010 01:30:00 EDT

The largest private equity deal of the year is one step closer to completion. Last week’s approval of Extended Stay’s disclosure statement by the bankruptcy court has paved the way for…

M&A Watch: Environmental Liabilities Not Just in the News Anymore

Wed, 30 Jun 2010 00:30:00 EDT

An oil spill webcam and Google Earth’s tracking of the spill’s progress in the Gulf have brought environmental concerns and liabilities to the forefront of at least one asset purchase agreement...