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By Christopher Swann
The huge available synergies mean the $73 bln U.S. parcel giant could sweeten its takeover offer for its Dutch rival. TNT shareholders are for now expecting at least 9 pct more. But with rivals FedEx and DHL inhibited in varying ways, they may not get the bidding war they’d like.
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GM's former finance arm better suited for IPO

By Antony Currie
The business now known as Ally is now considering a sale - and it would fit well with some banks or even its previous owner. But the ResCap unit remains troubled. And at $25 bln, it’s no easy deal in this environment. Waiting for an opening in public markets is a better option.

AT&T board lets CEO off hook for bad call

By Jeffrey Goldfarb
Randall Stephenson’s total pay fell to $22 mln last year from $27 mln in 2010. That’s a light slap given the $4 bln break fee for the badly botched bid for T-Mobile USA. Investors can show their displeasure with directors for failing to hold the boss accountable – and should.
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Alibaba $2.5 bln buyout looks opportunistic

By Wei Gu
The 46 pct premium founder Jack Ma has offered to take the Chinese e-commerce company private is decent, but the shares are far below former highs. Minority shareholders have few options, but Ma’s wily dealmaking may haunt him if he returns to float his crown jewel, Taobao.
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Happy stock highs belie bonds teetering on edge

By Robert Cole
With the Dow Jones industrial average crossing the 13,000 level for the first time since before the crisis and Britain’s FTSE 100 index headed toward 6,000, equity investors are smiling. Many may be wondering if the run can be sustained. But debt buyers may face the real danger.

Deloitte caught in Diamond Foods’ glare

By Jeffrey Goldfarb
Just a few months ago, the snack food firm’s auditor was publicly shamed by its U.S. regulator for past failings. Diamond’s misstated payments to nut growers call into question other facets of the company’s books. Deloitte could be headed back into the accounting hot seat.

IMF strategically withdraws from Greek campaign

By Christopher Swann
The agency played a big role in the first bailout of Athens but will provide just 13 bln euros more for the second, enough to service existing loans. With the EU taking greater responsibility for the Greek mess, the IMF may find it easier to build a broader euro-zone firewall.
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