March 6 The following corporate finance-related
stories were reported by media on Wednesday:
* Private equity firms including Blackstone Group LP
and Carlyle Group are exploring a joint offer for Life
Technologies Corp, a biomedical laboratory equipment
maker with a $10 billion market value, two people familiar with
the matter said on Tuesday.
* Britain has lost its campaign to stop a strict European
Union cap on bankers' bonuses after its 11th-hour fightback
secured no more than minor potential tweaks to a pay clampdown
dreaded by the City of London, the Financial Times reported.
* The U.S. Federal Bureau of Investigation has joined
securities regulators to tackle the potential threat of market
manipulation posed by sophisticated computer trading strategies
that have taken markets beyond the scope of traditional
policing, the Financial Times reported.
* London's regulator has admitted it was slow off the mark
when the first indications emerged six years ago that banks were
submitting artificially low Libor rates, the Financial Times
* Apple Inc has held talks with Beats Electronics
LLC, the audio technology firm co-founded by influential hip-hop
producer Dr Dre and music mogul Jimmy Iovine, on a potential
partnership involving Beats' planned music-streaming service,
three people familiar with the situation told Reuters.
* J C Penney Co Inc Chief Executive Ron Johnson has
only to the end of the year to turn around the ailing retailer
and stem a massive decline in sales or risk being fired, a
person familiar with the board's thinking said on Tuesday.
* South Korea's Samsung Electronics Co Ltd is
set to invest about $110 million in struggling Sharp Corp
, a deal that will ensure it a smooth supply of
large-sized TV panels and help bolster the Japanese company's
chances of survival.
* Verizon Communications Inc has weighed several
options involving its relationship with Vodafone Group Plc
and its joint ownership of Verizon Wireless ranging from
ending its wireless venture with the European company to a full
merger with Vodafone, Bloomberg reported.
* CPPGroup Plc is in talks on a financial
restructuring that could see its lenders swap their debt for a
significant stake in the British credit card insurer following a
multi-million pound regulatory fine, Sky News reported on
* Spain is mulling a full or partial merger of nationalised
lenders Bankia SA and Catalunya Banc SA to
minimise the cost for taxpayers of maintaining the two banks,
three sources with knowledge of the matter said.
* China is investigating the influence of the Glencore
International Plc and Xstrata Plc $76 billion
tie-up in the copper market, opening the door for Beijing to
seek some remedies from the world's largest trading houses and
the miner before it approves the deal, the Financial Times
* Lenders to Kingfisher Airlines Ltd have
indicated they may sell United Spirits Ltd (USL)
shares pledged with them as collateral either in the market or
at a higher price to outsiders, dealing a serious, but not
fatal, blow to the proposed takeover of USL by British liquor
giant Diageo Plc, the Economic Times reported.
* A key shareholder in Spanish oil group Repsol SA
has held talks with Argentina's government to try to broker a
compensation deal for the seizure of its majority stake in
national oil company YPF SA last year, a source with
knowledge of the matter told Reuters on Tuesday.
* Textile-to-telecom company Aditya Birla Group is planning
to buy a U.S. fertiliser plant to benefit from cheaper prices of
shale gas to fuel factories, The Financial Express reported,
citing spokesperson Kumar Birla. If the plan materialises, it
would be the group's first acquisition of an overseas fertiliser