Nov 26 The following corporate finance-related
stories were reported by media:
* Chrysler Group LLC, the No. 3 U.S. automaker, has
abandoned plans for an initial public offering this year so it
can sort out a U.S. tax issue, according to two sources familiar
with the process.
* Blackstone Group LP is eyeing an IPO for La Quinta
Inns & Suites rather than a sale of the hotel chain, according
to a source familiar with the process.
* Singapore's DBS Group Holdings, ABN AMRO and
Credit Suisse are among suitors that have submitted
final round bids for Societe Generale's Asian private
bank, which is being valued at around $400 million, people
familiar with the matter said.
* Private equity firm Bain Capital LLC is in talks with
other private equity firms to sell its insurance software
provider Applied Systems Inc for more than $1 billion, three
people familiar with the matter said on Monday.
* At least six major private equity groups are competing to
buy the industrial packaging segment of Illinois Tool Works Inc
, in a deal that could fetch more than $3 billion,
according to people familiar with the matter.
* One of the biggest proposed law firm mergers of the year,
between the California-based Orrick Herrington & Sutcliffe and
Pillsbury Winthrop Shaw Pittman in New York, has been called
off, the leaders of the two firms told Reuters Monday.
* Intel Corp is trying to sell its yet-to-launch
Internet television service for $500 million and wants to
complete a deal by year-end, Bloomberg reported on Monday,
citing unnamed sources.
* U.S.-based generic drug maker Mylan Inc and two
Indian pharma companies are in the race to acquire Chennai-based
Bafna Pharmaceuticals, which makes haemoglobin drug
Raricap among other products, the Economic Times reported on
Monday, citing two people privy to the deal. ()