UPDATE 1-Market Chatter-Corporate finance press digest
Oct 2 (Reuters) - The following corporate finance-related stories were reported by media:
* Fidelity Investments, a creditor of Energy Future Holdings Corp, has hired advisers to propose a restructuring plan for the Texas utility in the hope of saving it from a protracted bankruptcy, according to three people close to the matter.
* Hutchison Whampoa Ltd, controlled by Asia's richest man, Li Ka-shing, is planning to float its healthcare and beauty retail business Watsons within the next 12 to 18 months, a Hong Kong newspaper reported on Wednesday.
The Hong Kong Economic Times, quoting market sources, said the initial public offering could raise between $8 billion and $10 billion.
* Cargill Inc, one of the world's leading cocoa traders, is in the final stages of a deal to buy Archer Daniels Midland Co's cocoa business, sources familiar with the situation said.
* The New York Attorney General plans to sue Wells Fargo & Co on Wednesday over failures to comply with the terms of the $26 billion national mortgage settlement, according to a person familiar with the matter.
* MoneyGram International Inc has decided to remain public after talks with private equity firms over a leveraged buyout did not result in an offer in line with its expectations, three people familiar with the matter said this week.
* America Movil SAB's plan to acquire Royal KPN NV has hit a snag over price disagreements, with the Dutch phone carrier's management holding out for a higher offer, Bloomberg reported, citing people with knowledge of the discussions. ()
- U.S. war veteran released by North Korea returns home |
- Pennsylvania newlyweds "just wanted to murder someone together:" police
- Ice storm causes blackouts, delays in Texas, Arkansas
- WTO overcomes last minute hitch to reach its first global trade deal
- China's parliament: Japan has "no right to criticize" air defense zone