HONG KONG - Goldman Sachs Group Inc launched the sale of about $1.1 billion worth of Hong Kong-traded shares in Industrial and Commercial Bank of China on Monday, offering its entire remaining stake in the world's biggest bank by market value.
- Generic drugmaker Actavis Inc, itself the subject of takeover speculation, said on Monday it would buy specialty pharmaceutical company Warner Chilcott Plc for $5 billion in stock to expand its branded drug portfolio, lower taxes and increase profits.
- Dell Inc said in a letter to suitors Carl Icahn and Southeastern Asset Management that the company would not provide more information about itself unless the board determined that their proposal was "superior" to founder Michael Dell's.
Fri, May 17 2013
SAN FRANCISCO - Yahoo Inc's board will meet on Sunday to vote on whether to offer $1.1 billion in cash for New York-based blogging service Tumblr, tech blog AllThingsD cited sources close to the situation as saying on Friday.
- The largest U.S. satellite video provider, DirecTV, is one of the companies considering a bid for online video website Hulu, according to a source familiar with the situation.
LONDON - After months of speculation, Vodafone's Vittorio Colao will be under pressure next week to set out whether he may sell its prized stake in Verizon Wireless in what would be one of the biggest deals ever.
- Morgans Hotel Group Co , in the midst of a proxy battle and facing investor opposition to a deal with Ron Burkle-controlled Yucaipa Companies, said it had rejected two takeover bids from a large international hotel company in the past six months.
NEW YORK - Generic drugmaker Actavis , the subject of intense takeover speculation, may have found its best defense: a potential purchase of Warner Chilcott Plc , a specialty pharmaceutical company that has been for sale on and off for years.
BRUSSELS - U.S. telecoms services company Syniverse Technologies is set to win EU antitrust approval for its 550 million-euro ($710 million) takeover of Mach after agreeing to divest a big chunk of its rival's operations, sources said on Friday.
LONDON - A drop in European takeovers has depressed global merger and acquisitions (M&A) activity so far this year, but bankers see activity picking up as a rally in stocks and bonds helps compensate for a prolonged euro-zone recession.
These days Washington is not known for bipartisanship, but every now and then a breakthrough is made. It is noteworthy that Vice President Joe Biden, a Democrat, and Senator John McCain, a Republican, are appearing together at a forum in Sedona, Arizona on Friday.