Billionaire investor Nelson Peltz bought 12.2 million shares in Kraft Foods during the first quarter, his investment firm reported this week.
“Morgan Stanley, Bank of America Merrill Lynch, J.P. Morgan and UBS were among bankers leading LinkedIn’s massively hyped — perhaps overhyped — IPO last month. And today — surprise!!! — all four banks told investors to buy, buy buy LinkedIn stock,” reports the NYT’s DealBook.
The Los Angeles Dodgers filed for bankruptcy protection, blaming Major League Baseball for refusing to approve a television deal with News Corp’s Fox Network to give the financially strapped baseball team a quick injection of cash.
The WSJ’s DealBook reports the best part of the filing is who the Dodgers owe money to. Manny Ramirez is owed $21 million.
M&A deals declined in the second quarter from the previous three months, casting gloom on hopes of a reviving world economy that will prompt executives to put their cash-rich balance sheets to work. Get full coverage on the state of M&A here.
China Everbright Bank has delayed meetings with investors to promote its planned $6 billion Hong Kong share listing, three sources with direct knowledge of the deal said, underscoring shaky sentiment in global markets and weak IPO performances in Asia.
The London Stock Exchange faces a nail-biting fight for Canadian peer TMX Group after aggressive rival bidder Maple trumped its sweetened offer by a whisker overnight. Proxy advisory firm ISS recommends TMX shareholders back the LSE offer.
Hulu has defied early skeptics that old-school media companies could collaborate to create a successful service for a new generation of TV watchers. But joint ventures have a knack for degenerating and an unsolicited approach for Hulu creates a perfect opportunity to find it a better home, writes Breakingviews columnist Jeffrey Goldfarb.
More than 80 percent of venture capitalists believe the initial public offering market is at very weak levels and it is curbing profits, according to a new survey.
Online video site Hulu has been approached by a potential buyer and is weighing whether to sell itself, according to a person familiar with the matter. GigaOM lists the possible candidates and the merits of a deal for each company.
SAB Miller said it would keep talking to Foster’s Group after Australia’s largest brewer rejected the global giant’s $10.1 billion cash takeover offer as too low.
Research In Motion has lost so much value that an acquirer could pay a 50 percent premium and still buy the BlackBerry maker for a lower multiple than any company in the industry, Bloomberg reports.
PNC Financial Services Group will buy Royal Bank of Canada’s U.S. retail bank operations for $3.45 billion in cash and stock, making it the fifth largest bank in the United States. The WSJ gets some early reaction to the deal.
ING said it has put its car leasing business up for sale, in a deal Dutch media reported may be worth $5.7 billion.
Capital One plans to buy ING’s U.S. online bank for $9 billion in cash and stock, freeing the Dutch bank to repay bailout funds and sever its state ties.
Italian fashion house Prada floated at the low end of its target price range on Friday, raising $2.1 billion as investors baulked at its rich valuation while global markets are weak.
Samsonite, the world’s biggest luggage maker, dropped 7.7 percent in its Hong Kong trading debut on Thursday, underscoring tepid investor appetite for initial public offerings as global markets struggle.
Pipeline operator Energy Transfer will buy smaller rival Southern Union for about $4.11 billion to bolster its natural gas gathering and transportation capacity amid burgeoning production from U.S. shale fields.
Online radio company Pandora Media priced shares in its initial public offering above an already raised range on Tuesday, the latest company to take advantage of red-hot valuations for Internet companies. Deal Journal breaks down the company by the numbers.
DST Systems has received several buyout overtures from private equity firms in recent months, including one led by activist investor Russell Glass, according to people with knowledge of the situation.