(Adds items on U.S. regulators and Taiwan government)
Aug 21 The following corporate finance-related
stories were reported by media:
* A handful of private equity firms are vying to buy
American Tire Distributors Holdings Inc in an auction that could
fetch more than $3 billion, the Wall Street Journal reported. (on.wsj.com/1p01CCA)
* Pfizer Inc isn't giving up on striking an overseas
takeover to cut its tax rate and gain a new pipeline of drugs,
even as the potential cost of acquiring AstraZeneca Plc
rises, Bloomberg reported. (bloom.bg/1of2JOO)
* Private equity firm Bain Capital LLC has agreed to acquire
a 50 percent stake in TOMS Shoes Inc in a deal that values the
company, which makes casual footwear known as alpargatas, at
about $625 million including debt, according to people familiar
with the matter.
* JPMorgan Chase & Co and Bank of America Corp
are planning to hike salaries of junior employees by at
least 20 percent, people familiar with the proceedings said.
* Exxon Mobil Corp plans to overhaul the two
gasoline-producing fluidic catalytic cracking units at its
502,500 barrel per day (bpd) refinery in Baton Rouge, Louisiana
in 2015 and 2016, said sources familiar with operations on
* Canadian medical marijuana producer Bedrocan Cannabis Corp
is set to go public on Monday, offering investors an alternative
to Tweed Marijuana Inc in the nascent market, according
to two sources familiar with the company's plans.
* U.S. oil major Exxon Mobil Corp has snapped up the
second condensate export cargo from the United States, which is
due to load at the end of August to go to Rotterdam, shipping
and trading sources said.
* Silver Lake Partners LP and Bain Capital LLC are among the
buyout firms vying to acquire Shutterfly Inc, an online
photo-sharing services provider with a market value of $2
billion, according to people familiar with the matter.
* Tuapse oil refinery, owned by Russia's top crude producer
Rosneft, is set to boost its output next month thanks
to clearance for a new pipeline, industry sources told Reuters
* Luxottica, maker of Ray-Ban and Persol
sunglasses, could part ways with Chief Executive Andrea Guerra
due to disagreements over strategy with founder and chairman
Leonardo Del Vecchio, according to sources close to the matter.
* Bank of America Corp is expected to pay more than
$16.5 billion to end investigations into mortgage securities
that the bank and its units sold in the run-up to the financial
crisis, in a deal that could be announced as early as Thursday,
a person familiar with the matter said.
* Britain has selected Bechtel and CH2M Hill, two U.S.-based
companies, as preferred bidders to run parts of its military
equipment buying programme, an industry source said.
* U.S. generic drugs company Mylan Inc, private
equity groups TPG Capital LLP, Advent International, KKR & Co LP
, and Warburg Pincus LLC, and some Indian drug makers
have made it through to the second round of bidding for a
portfolio of mature drugs being sold by GlaxoSmithKline Plc
, the Wall Street Journal reported. (on.wsj.com/1rmp9p7)
* Ford Motor Co plans to introduce a new hybrid
gasoline-electric car in late 2018 to compete against the
best-selling Toyota Prius, two sources with knowledge of the
company's plans told Reuters on Wednesday.
* U.S. regulators are sending some of the biggest global
banks verbal warnings as they crack down on the firms' poor
grasp of their own weaknesses, and push for rapid improvements
in risk assessment, according to two sources familiar with the
* Taiwan's government plans to sell 177 million shares of
TSMC next year to raise T$21.3 billion ($710 million),
part of a broader move to help repay its debt, two sources with
close knowledge of the situation said on
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(Compiled by Shivam Srivastava in Bangalore)