(Adds item on Cathay Financial)
Aug 27 The following corporate finance-related
stories were reported by media:
* Otter Products LLC, the privately held company that makes
the OtterBox protective cases for mobile phones, is exploring a
sale that could value the company at more than $2.5 billion,
including debt, according to people familiar with the matter.
* DBRS Ltd, the privately held credit rating agency that
competes with Standard & Poor's Financial Services LLC, Moody's
Corp and Fitch Ratings Inc, is exploring a sale,
according to people familiar with the matter.
* Ann Inc has hired JPMorgan Chase & Co to
explore strategic alternatives, including a potential sale of
the women's retailer, according to people familiar with the
* Qualcomm, the world's No. 1 mobile chipmaker, may
face a European investigation related to a four-year-old
complaint from a subsidiary of rival Nvidia Corp, three
people familiar with the matter said on Tuesday.
* Venture capital firm Kleiner Perkins Caufield & Byer has
agreed to invest in fast-growing messaging startup Snapchat at a
valuation close to $10 billion, the Wall Street Journal reported
on Tuesday, citing people with knowledge of the matter.
* Barrick Gold Corp is eliminating its entire
corporate development team and more cuts are in the works as the
world's top gold miner looks to trim costs, three sources
familiar with the situation said on Tuesday.
* Royal Bank of Scotland will be fined by Britain's
financial regulator on Wednesday over mortgage advice given to
customers, sources familiar with the matter told Reuters on
* Standard Chartered is aiming to sell part of its
business in the United Arab Emirates (UAE) after it agreed to
close some accounts there in an anti-money laundering settlement
with U.S. authorities, two sources familiar with the plan said.
* The United States will slap anti-subsidy import duties on
Mexican sugar, sources said on Tuesday, a move that could push
up candy and soft drink prices for U.S. consumers and incite
retaliation from Mexico on other products.
* Spanish energy company Repsol SA's talks to buy
oil and gas assets belonging to Canadian producer Talisman
Energy Inc have stalled, The Wall Street Journal
reported on Tuesday, citing several people familiar with the
* The UK Competition and Markets Authority (CMA) has become
the latest regulator to investigate the global foreign exchange
market following allegations of rigging, the Wall Street Journal
reported on Tuesday, citing two people familiar with the matter.
* Telecom Italia will make a bid valued at roughly
7 billion euros ($9.2 billion) for Vivendi's Brazilian broadband
unit GVT, which would leave Vivendi with a 15 to 20
percent stake in the Italian group, said four people familiar
with the matter.
* Apple Inc is preparing to roll out a larger,
12.9-inch version of its iPad for 2015, with production set to
begin in the first quarter of next year, Bloomberg cited people
with knowledge of the matter as saying on Tuesday.
* RadioShack Corp's second-largest shareholder,
Standard General LP, is negotiating a rescue package with
investors to help the consumer electronics retailer ward off
bankruptcy, Bloomberg reported, citing people with knowledge of
* Taiwan's Cathay Financial Holding Co is in talks
to acquire a 20 percent stake in medium-sized Philippine lender
Rizal Commercial Banking Corp amid plans to expand in
Southeast Asia, people with knowledge of the discussions said.
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(Compiled by Shivam Srivastava in Bangalore)