(Reuters) – A consortium led by China’s sovereign wealth fund is in talks to buy a 49 percent stake in AIG (AIG.N: Quote, Profile, Research, Stock Buzz) unit Alico in a deal that could be worth up to $10.6 billion, Japan’s Nikkei business daily reported on Friday. The paper said U.S. insurance firm American International […]
DUBLIN (Reuters) – Bank of Ireland has received unsolicited bid approaches from unnamed groups, it said on Friday, lifting its shares over 30 percent as speculation grew over government plans for consolidation in the sector. Separately, Irish Life & Permanent (IPM.I) said it had been in discussions with the EBS building society over how the […]
Gilde Buy Out Fund has acquired a majority stake in the Powerlines Group from Invest Equity, for an undisclosed amount. Powerlines Group is a contractor for the planning, installation and maintenance of catenary systems, conductor rails, transmission lines and cable systems. Company management will retain a minority position.
BARCELONA (Reuters) – German publisher Axel Springer said it could still be interested in buying ProSiebenSat.1 after its 2.5 billion-euro ($3.1 billion) bid to buy the broadcaster was thwarted two years ago. Chief Executive Mathias Doepfner said Springer had other options including building its own video business but might consider another attempt to buy ProSieben […]
LONDON (Reuters) – The result of first round bids in the auction of French heat exchanger maker Giannoni are expected this week, bankers close to the deal said on Thursday. Opinions on the sale price are mixed as difficult macroeconomic conditions and a tough loan market environment continue to complicate valuations. Estimates range from more […]
NEW YORK (Reuters) – The money-losing finance company GMAC said on Thursday it has filed to become a bank, and its bonds surged as it joined the growing list of lenders making such a move in a bid to secure U.S. Treasury funds. Detroit-based GMAC said its application for funds from the government’s $700 billion Troubled […]
TORONTO (Reuters) – Chrysler Canada Inc has asked the Canadian and Ontario governments for C$1 billion in financial assistance to help it through the global economic crisis, making it the first Canadian automaker to specify how much it is seeking, the Globe and Mail reported on Thursday. However, the newspaper, citing sources, said the company […]
NEW YORK (Reuters) – Steve & Barry’s stores will be liquidated by early 2009 after the new owners concluded they would be unable to obtain financing to keep the casual clothing retailer in business amid disappointing sales. Steve & Barry’s had filed for bankruptcy protection in July, and in the following month it sold its […]
Glass Lewis & Co. LLC, a San Francisco-based proxy firm owned by The Ontario Teachers' Pension Plan, has agreed to acquire political and economic advisory firm Washington Analysis Corp. from Xinhua Finance. No financial terms were disclosed. OTPP originally bought Glass Lewis from Xinhua Finance last year for $46 million.
Buckeye GP Holdings LP (NYSE: BGH), a pipeline operator, has turned down a $17 per unit tender offer from ArcLight Capital Partners and Kelso & Co. The two firms -- along with Lehman Brothers – bought a 63% stake in Buckeye from Carlyle-Riverstone last year. In a regulatory filing, Buckeye said that the $17 per unit price “is inadequate and that the tender offer is otherwise not in the best interests of the holders of units."