October 4, 2013 / 4:40 AM / 4 years ago

Market Chatter- Corporate finance press digest

2 Min Read

Oct 4 (Reuters) - The following corporate finance-related stories were reported by media:

* Steve A. Cohen's SAC Capital Advisors is in discussions to sell its reinsurance business as the $14 billion hedge fund deals with the fallout of a long-running insider trading probe, four people familiar with the discussions said on Thursday.

* One of Canada's largest discount chains, Giant Tiger Stores Ltd, is exploring a sale that could value it at about $800 million, three people familiar with the matter said on Thursday.

* Finmeccanica's board will meet on Friday to decide on an offer from state-owned agency Cassa Depositi e Prestiti to buy a 80-90 percent stake in its power engineering unit Ansaldo Energia, a source familiar with the matter said on Thursday.

* George Cultraro, the former New York-based global head of crude oil and refined products for Barclays Capital, has joined Bank of America Merrill Lynch as global head of crude oil trading, industry sources said on Thursday. The news was first reported by energy trade publication SparkSpread.

* U.S. retailer RadioShack Corp has received several offers for new financing, including one from current lenders Bank of America Corp and Wells Fargo & Co, three sources familiar with the matter told Reuters.

* American Pacific Corp, which makes chemicals used in the pharmaceutical and aerospace industries, is considering selling itself, according to three sources familiar with the matter.

* Dozens of strategic and private equity players including Bloomberg News and Warburg Pincus are circling Pearson's financial news provider Mergermarket ahead of an Oct. 7 deadline for first-round bids, several industry sources close to the deal told Reuters.

* French floor maker Tarkett, which is 50 percent owned by U.S. private equity firm KKR, is set to launch an initial public offering that could value the company at as much as 2.5 billion euros ($3.41 billion), the Financial Times said on Thursday.

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