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Jan 17, 2012

AIA sizes up bid for $6 billion ING Asia insurance unit: sources

HONG KONG (Reuters) – AIA Group Ltd (1299.HK: Quote, Profile, Research, Stock Buzz), Asia’s No.3 insurer and about one third owned by American International Group Inc (AIG.N: Quote, Profile, Research, Stock Buzz), is considering bidding for Dutch ING’s (ING.AS: Quote, Profile, Research, Stock Buzz) around $6 billion Asian insurance operations, sources said, with the prospective sale expected to draw heavy interest from rivals.

AIA, which was the crown jewel in bailed-out insurer AIG’s global business, has invited four banks to pitch for advisory roles for a possible offer, two sources familiar with the process told Reuters. The sources declined to be identified as they were not authorized to speak to the media.

Jan 17, 2012

AIA sizes up bid for ING Asia insurance unit – sources

HONG KONG (Reuters) – AIA Group Ltd, Asia’s No.3 insurer and about one third owned by American International Group Inc, is considering bidding for Dutch ING’s around $6 billion (3 billion pounds) Asian insurance operations, sources said, with the prospective sale expected to draw heavy interest from rivals.

AIA, which was the crown jewel in bailed-out insurer AIG’s global business, has invited four banks to pitch for advisory roles for a possible offer, two sources familiar with the process told Reuters. The sources declined to be identified as they were not authorised to speak to the media.

Jan 13, 2012

ING taps Goldman to advise on sale of $6 billion Asia operations

HONG KONG (Reuters) – Dutch bancassurer ING (ING.AS: Quote, Profile, Research, Stock Buzz) has hired Goldman Sachs (GS.N: Quote, Profile, Research, Stock Buzz) to handle the sale of its Asian operations, a source close to the matter told Reuters on Friday, as the company seeks options for the division after scrapping its original plan.

JP Morgan (JPM.N: Quote, Profile, Research, Stock Buzz) is also expected to get an advisory role for the auction, sources said, though they could not confirm if the bank was officially hired.

Jan 13, 2012

ING taps Goldman to advise on sale of $6bln Asia unit-source

HONG KONG, Jan 13 (Reuters) – Dutch bancassurer ING
has hired Goldman Sachs to handle the sale of
its Asian operations, a source close to the matter told Reuters
on Friday, as the company seeks options for the division after
scrapping its original plan.

JP Morgan is also expected to get an advisory role
for the auction, sources said, though they could not confirm if
the bank was officially hired.

Nov 11, 2011

MF Global fires brokerage staff en masse

NEW YORK, Nov 11 (Reuters) – MF Global (MFGLQ.PK: Quote, Profile, Research) fired all
1,066 of its brokerage employees on Friday, triggering anger
and resentment about the firm’s collapse after bad bets on
European debt under former CEO Jon Corzine’s leadership.

How the final blow was delivered upset many staff — with
some learning by email and others through news on the
television.

Nov 11, 2011

More than 1,000 MF Global workers let go

NEW YORK (Reuters) – MF Global fired all 1,066 of its brokerage employees on Friday, triggering anger and resentment about the firm’s collapse after bad bets on European debt under former CEO Jon Corzine’s leadership.

How the final blow was delivered upset many staff — with some learning by email and others through news on the television.

Nov 7, 2011

Groupon travels ‘tortured’ road to Nasdaq

Nov 4 (Reuters) – When Groupon Inc filed its plan
to go public with U.S. regulators in June, Chief Executive
Andrew Mason proclaimed in a letter to prospective shareholders
that “life is too short to be a boring company.”

In the months that followed, the daily deals website, which
offers discount coupons for local shops and services, was
anything but boring as a series of blunders threatened its
initial public offering.

Nov 5, 2011

Groupon shares surge but concerns linger

NEW YORK/SAN FRANCISCO, Nov 4 (Reuters) – Shares of Groupon
Inc surged as much as 56 percent on Friday, a solid
debut aided by a small number of shares sold, yet still fell
short of the first-day performances of recent Internet IPOs.

Groupon’s stock closed up 31 percent but the first day pop
paled in comparison to LinkedIn , the professional
social network that went public in May, whose shares doubled in
their debut. Real estate website Zillow also nearly
doubled in its debut in July.

Nov 4, 2011

IPO view: Groupon travels “tortured” road to Nasdaq

By Alistair Barr and Clare Baldwin

(Reuters) – When Groupon Inc filed its plan to go public with U.S. regulators in June, Chief Executive Andrew Mason proclaimed in a letter to prospective shareholders that “life is too short to be a boring company.”

In the months that followed, the daily deals website, which offers discount coupons for local shops and services, was anything but boring as a series of blunders threatened its initial public offering.

Nov 4, 2011

Groupon’s IPO biggest by U.S. Web company since Google

By Alistair Barr and Clare Baldwin

(Reuters) – Groupon Inc raised $700 million after increasing the size of its initial public offering, becoming the largest IPO by a U.S. Internet company since Google Inc raised $1.7 billion in 2004.

The global leader in “daily deals” is now valued at almost $13 billion after saying it increased the offering by 5 million shares to 35 million in total and pricing them at $20 each, above an initial range of $16 to $18.

    • About Clare

      "I am based in New York and write about IPOs and wealth management. I was formerly based in San Francisco, where I wrote about tech companies."
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