Market Chatter-Corporate finance press digest
July 2 - The following corporate finance-related stories were reported by media on Tuesday:
JGBs steady ahead of expected solid demand at 10-year sale
TOKYO, July 2 - Benchmark Japanese government bonds were steady on Tuesday as investors anticipated a smooth sale of 10-year debt this session. * The Ministry of Finance offered 2.4 trillion yen ($24.06 billion) of 10-year bonds with a 0.8 percent coupon, reopening the current issue. The ministry said it would reopen current issues for the July and August auctions unless their yields move by 20 basis points or more. * "The auction will likely go smoothly," said
PRESS DIGEST - Financial Times - July 2
July 2 - The following are the top stories in the Financial Times. Reuters has not verified these stories and does not vouch for their accuracy.
Abe reforms take aim at Japan's $1 trillion pension fund
TOKYO, July 2 - Visitors to Japan's public pension fund can't miss signs of the low-cost, low-return culture that Prime Minister Shinzo Abe seems determined to change with a review of its operations that kicked off on Monday.
BRIEF-Tyco says got notices of deficiency from IRS
July 1 - July 1 - Tyco International Ltd : * Got notices of deficiency from IRS asserting several of co's former U.S. units owe additional taxes of $883.3 million plus penalties of $154 million * Says several of co's former U.S. units owe penalties of $154 million based on audits of 1997 through 2000 tax years of co. * Under 2007 tax sharing agreement,covidien;TE Connectivity would share 42%,31%,respectively,of any tax liabilities due in respect of these matters * Source
Deals of the day -- mergers and acquisitions
July 1 - The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:
MOVES-BofA Merrill Lynch, Exotix, Commonfund, Vestar Capital, CVC Capital, Amundi
July 1 - The following financial services industry appointments were announced on Monday. To inform us of other job changes, email to moves@thomsonreuters.com.
RPT-Fitch: Income Fund Strategies Challenged in Current Market Cycle
July 1 - (The following statement was released by the rating agency)
Kohlberg to take Steinway Musical private in $438 mln deal
July 1 - Steinway Musical Instruments Inc said it would be acquired by private equity firm Kohlberg & Co in a deal valued about $438 million.
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