Canada's CIBC completes $5 billion PrivateBancorp buy
TORONTO Canadian Imperial Bank of Commerce has completed the $5 billion acquisition of Chicago-based PrivateBancorp , which will help it diversify from its domestic market, it said on Friday.
News Corp is in the process of closing a deal to buy a minority stake in New York regional sports network YES, the Wall Street Journal reported on Wednesday, citing sources.
A deal that values the home network of the New York Yankees at about $3 billion is expected to be announced in the coming days, the Journal reported.
News Corp will be acquiring about 40 percent of the network, most of which will come from stake sales by Goldman Sachs Group Inc and Providence Equity Partners, the Journal said.
News Corp owns Dow Jones & Co, which publishes The Wall Street Journal.
The deal comes amid rising fees for sports rights and values for the networks that own them, the Wall Street Journal reported.
News Corp could not be immediately reached for comment by Reuters outside regular U.S. business hours.
(Reporting By Neha Dimri in Bangalore; Editing by Muralikumar Anantharaman)
Miner and trader Glencore on Friday hit back with an increased offer of $2.675 billion in cash to buy Australian coal assets from Rio Tinto that earlier this week said it was favoring a Chinese bid.