PRESS DIGEST - Wall Street Journal - June 28
June 28 The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
May 27 The following corporate finance-related stories were reported by media:
* France's nuclear group Areva would be interested in Alstom's offshore wind turbine contracts but would use its own turbine technology rather than the engineering group's, a source with direct knowledge of the situation told Reuters.
* Intuit Inc, developer of tax-preparation software TurboTax, agreed to buy Check Inc, a bill-payment service, for $360 million in a deal that was signed on Friday, the Wall Street Journal reported, citing people familiar with the situation.
* Siemens is readying a formal offer for Alstom under which it would transfer its rail activities and less than 7 billion euros ($9.56 billion) in cash to its French rival in exchange for its power assets, sources familiar with the German firm's thinking say.
* Italian designer Roberto Cavalli has approached Gulf investment firm Investcorp as a potential buyer for a stake in his fashion brand, a source at the Gulf investment firm said.
* Morgan Stanley is close to a deal to sell its stake in its TransMontaigne oil transportation-and-storage business, the Wall Street Journal reported on Friday, citing sources familiar with the matter.
* Germany's Trimet Aluminium is in talks about purchasing insolvent German aluminium producer Voerde Aluminium, a newspaper said on Monday.
* Upscale department store operator Nordstrom Inc is reaching out to potential buyers for its store-branded credit cards, Bloomberg reported on Friday, citing sources familiar with the matter.
* Australian fashion sales site MySale has acquired Cocosa, a flash sales site, as it prepares to launch in the UK, the Financial Times reported late Monday.
* Global private equity fund Warburg Pincus will purchase as much as a fourth of Indian drug ingredient maker Laurus Labs for $125-150 million, the Economic Times reported, citing three people with direct knowledge of the deal. (link.reuters.com/pux59v)
* Russian investment firm DST Global could pump in between $200 million to $500 million into Indian online retailer Flipkart, the Economic Times reported, citing two people with direct knowledge of the negotiations. (link.reuters.com/xux59v)
For the deals of the day click on
For the Morning News Call-EMEA newsletter click on ($1 = 0.7325 Euros) (Compiled by Aastha Agnihotri in Bangalore)