By Ethan Bilby
The author is a Reuters Breakingviews columnist. The opinions expressed are his own.
Macau casino operator MGM China, co-owned in part by casino mogul Stanley Ho's daughter Pansy Ho, raised $1.5 billion from its Hong Kong initial public offering after pricing it at the top of its indicative range, triggering some concerns about lofty valuations.
Schneider Electric issued a statement denying it had planned to buy U.S. conglomerate Tyco International, but this did little to kill the buyout talks as a source with knowledge of the matter said the French engineering group held earlier talks with Tyco. Shares of Schneider initially rose more than 2 percent after the denial but dropped after analysts made comments speculating a tie-up may be coming soon, and is expected to weigh on shares in the long term.