Alice's Feed
Feb 2, 2012
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M & A wrap: Glencore and Xstrata in mega merger talks

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Xstrata and Glencore are in talks over an all-share merger that could create a combined group worth more than $80 billion, shaking up the industry with its biggest deal to date.

Glencore, the world’s largest diversified commodities trader, already owns 34 percent of mining group Xstrata and a tie-up between the two Swiss-based companies — in a deal which would trump Rio Tinto’s $38 billion acquisition of Alcan in 2007 — has long been expected, as Glencore aims to add more mines to its trading clout.

Feb 1, 2012
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M & A wrap: Can Facebook live up to the hype?

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As Facebook is expected to submit paperwork to regulators for its initial public offering, Reuters Social Media Editor, Anthony De Rosa, uncovers three problems standing in the way of Facebook’s future growth.

Which exchange will Facebook choose to “friend”? Bloomberg reports NYSE and Nasdaq are competing now for what may be the biggest ever by a technology company.

Jan 27, 2012
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M & A wrap: Owners, insiders jockey ahead of LME sale

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Market parties are jockeying ahead of a sale of the London Metal Exchange (LME), a deal that could radically alter the sway that banks and brokers hold over the world’s largest metals market.

Meanwhile, London Stock Exchange chief Xavier Rolet says he aims to put last year’s failed bid for Canada’s TMX Group behind him by forging ahead with plans to diversify.

Jan 26, 2012
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M & A wrap: Illumina unveils poison pill to stave off Roche

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Gene sequencing company Illumina unveiled a “poison pill” defense strategy against a hostile bid from Swiss drugmaker Roche, saying it would trigger a rights agreement if any party bought 15 percent of its stock. Roche is offering $5.7 billion in cash for Illumina.

Analysts say it is likely to be a protracted battle lasting well into 2012 based on Roche’s past deal playbook and possible regulatory hurdles. “This is going to take a while. There’s room for a protracted wait-them-out strategy as Roche puts pressure on Illumina’s board,” one arbitrageur, who declined to be named, told Reuters.

Jan 25, 2012
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M & A wrap: Roche goes hostile for gene firm Illumina

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Roche is offering $5.7 billion in cash to buy U.S. gene sequencing company Illumina Inc in an unfriendly takeover bid that marks a major play by the Swiss drugmaker into the gene technology field.

AMR Corp, the bankrupt parent of American Airlines, is the prize in a likely bidding war by rival carriers, but any merger involving the third largest U.S. airline is expected to come on its own terms and timing, Soyoung Kim and Kyle Peterson write.

Jan 24, 2012
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M & A wrap: NYSE-Deutsche Boerse deal faces tough vote

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NYSE Euronext and Deutsche Boerse are unlikely to garner enough support from European Union commissioners to overturn a looming veto over their plan to create the world’s largest exchange, Bloomberg says, citing four people familiar with the situation.

Here are the various options open to Deutsche Boerse and NYSE Euronext ahead of the Commission’s decision.

Jan 23, 2012
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M & A wrap: Takeover talk swirls around BlackBerry maker

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Takeover talk swirled around Research In Motion as investors and analysts pondered whether new Chief Executive Thorsten Heins had been appointed to lead a turnaround of the struggling phonemaker or prepare it for sale.

Here is a brief biography of Thorsten Heins, the little known insider at RIM’s helm.

Jan 19, 2012
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M & A wrap: Kodak files for bankruptcy

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Eastman Kodak, which invented the hand-held camera and helped bring the world the first pictures from the moon, has filed for bankruptcy protection, capping a prolonged plunge for one of America’s best-known companies. The more than 130-year-old photographic film pioneer said it had also obtained a $950 million, 18-month credit facility from Citigroup to keep it going.

Kodak is preparing to appoint a chief restructuring officer who would report to the board and could have broad powers to manage the company’s finances and operations, The Wall Street Journal reports.

Jan 18, 2012
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M & A wrap: “Chief Yahoo” resigns

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Yahoo co-founder Jerry Yang has quit the company he started in 1995, appeasing shareholders who had blasted the Internet pioneer for pursuing an ineffective personal vision and impeding investment deals that could have transformed the struggling company.

Wall Street views the exit of “Chief Yahoo” Yang as smoothing the way for a major infusion of cash from private equity, or a deal to sell off much of its 40 percent slice of China’s Alibaba, unlocking value for shareholders.

Jan 17, 2012
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M & A wrap: Swift takeover for Olympus unlikely

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Olympus Corp should be the easiest of takeover targets: a profitable business with its share price in tatters, its management in utter disgrace and its balance sheet in need of fresh capital. But not in Japan. Reuters reporter Isabel Reynolds explains why.

Bonuses are sinking at Morgan Stanley, with cash payouts capped at $125,000, The Wall Street Journal reports.