Financial Services & Real Estate Headlines
Tue, May 21 2013
Sprint raises Clearwire offer, not enough for some
- Sprint Nextel Corp raised its buyout offer for wireless service provider Clearwire Corp to $3.40 per share on Tuesday under pressure from activist shareholders, but the new bid failed to impress several big investors.
Scotiabank says China reevaluating Guangzhou deal
TORONTO - Bank of Nova Scotia Chief Executive Rick Waugh said on Tuesday that Chinese authorities are reevaluating whether they want to go ahead with a deal to sell 20 percent of Bank of Guangzhou to the Canadian bank.
Goldman exits China's ICBC, seven years and billions later
HONG KONG - Goldman Sachs Group Inc raised $1.1 billion by selling its remaining shares in Industrial and Commercial Bank of China, ending a seven-year old investment and handing the Wall Street firm a return of nearly four times its original stake.
Mon, May 20 2013
India's Essar Oil to sign $1 billion debt-for-fuel deal with China
MUMBAI/NEW DELHI - India's Essar Oil Ltd will sign a $1 billion loan deal with China on Tuesday that sources with knowledge of the matter said would be backed by supply of refined products to top state oil producer PetroChina .
Actavis to buy Warner Chilcott in $5 billion stock deal
- Generic drugmaker Actavis Inc, itself a recent takeover target, 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.
Goldman exits China's ICBC, seven years and billions later
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.
Fri, May 17 2013
Warner Chilcott buy may be Actavis' best takeover defense
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.
Bankers see M&A recovery after deals drop 7 percent so far in 2013
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.
Wed, May 15 2013
Exclusive: Bain in the lead as Yankee Candle sale fizzles - sources
NEW YORK - Bain Capital LLC has emerged as the last party standing in the race for Yankee Candle Co Inc, three people familiar with the matter said, making it likely that the largest scented candle maker in the United States will stay in private equity hands.
Cubist bid for Optimer before sale process began: sources
NEW YORK - Before Optimer Pharmaceuticals Inc even put itself up for sale earlier this year, Cubist Pharmaceuticals Inc offered to buy the antibiotic maker for $20 per share, or nearly $1 billion, two people familiar with the matter told Reuters on Wednesday.
McCain, Biden coming together for Sedona, Arizona forum
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.
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