Reuters News
U.S. hedge fund Paulson & Co has rejected proposals from Canadian miner Detour Gold Corp which would have removed its interim CEO in aid of settling a proxy dispute over the company’s future, Reuters reported. The settlement Detour said it had proposed to Paulson on October 9 would have resulted in almost half of its board being refreshed in six weeks, with interim CEO Michael Kenyon stepping down before the next AGM. Paulson, which has called for the company to explore strategic alternatives including a sale, in July called for a special shareholders meeting and nominated eight new directors.
Lithium producer Livent Corp (LTHM.N) fell 3.6 percent in its market debut on Thursday after being priced at the lower end of its expected range, as investors worried about the recent declines in prices of lithium in China, the world’s largest consumer of the ultralight metal.
Blackstone Group LP, Carlyle Group LP, Onex Corp and Canada Pension Plan Investment Board have joined forces in a bid to acquire U.S. aluminum products maker Arconic Inc, sources told Reuters. Based in Pittsburgh, Pennsylvania, Arconic’s products, which are made of aluminum, titanium or nickel, are used around the world by aerospace, automotive, commercial transportation and packaging manufacturers. The company, which has a market capitalization of US$10.6 billion and total debt of US$6.3 billion, will decide whether to agree to a sale later this month, the sources said.
Caisse de dépôt et placement du Québec and Generation Investment Management LLP have agreed to buy a majority stake in U.K.-based fintech firm FNZ in a deal valuing the company at 1.6 billion pounds (US$2.09 billion), Reuters reported. The Caisse and Generation partnership will buy out two-thirds of FNZ owned by U.S. private equity firms General Atlantic and HIG Capital. The FNZ deal is the first of a US$3 billion investment that the Caisse, Canada’s second-largest pension fund, and Generation Investment, co-founded by former U.S. vice president Al Gore, plan to make over the next 8 to 15 years.
Canada’s second-largest pension fund CDPQ and Generation Investment Management LLP said on Tuesday they were buying a majority stake in UK-based fintech firm FNZ in a deal valuing FNZ at 1.6 billion pounds ($2.09 billion), Reuters reported.
Blackstone Group LP (BX.N), Carlyle Group LP (CG.O), Onex Corp (ONEX.TO) and Canada Pension Plan Investment Board have joined forces in a bid to acquire aluminum products maker Arconic Inc (ARNC.N), Reuters reported.
KKR & Co (KKR.N) has launched a A$1.75 billion ($1.24 billion) takeover offer for MYOB Group (MYO.AX) after buying almost a fifth of the Australian accounting software provider, as the U.S. private equity firm grows its portfolio of tech businesses, Reuters reported.
Civitas Solutions Inc (CIVI.N), a U.S. provider of home and community health services to people with disabilities, is exploring strategic alternatives, including a potential sale, sources told Reuters.
A consortium comprised of the real estate investment arm of Canada's Brookfield Asset Management, British privately owned investment firm Peel Group and Saudi conglomerate Olayan Group is considering a possible cash offer for Intu Properties, Reuters reported. The offer is for the share capital of Intu not already owned by consortium members. The group has until November 1 to make a firm offer. Intu is a £2 billion (US$2.6 billion) U.K. owner and operator of shopping centres. Like other property businesses, it has been hit by tough conditions in the U.K’.s retail sector this year that have forced a number of shopping chains to collapse.
Shares in luxury automaker Aston Martin (AML.L) fell as much as 6.5 percent on their market debut in London on Wednesday as investors and analysts raised concerns over its ability to deliver an ambitious roll-out of new models, Reuters reported.