Reuters.com Editor, Toronto
Eric's Feed
Oct 21, 2011
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M & A wrap: Groupon scales back IPO

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Groupon plans to raise as much as $540 million in an initial public offering, less than previously planned, as the daily deals website grapples with a weak equity market, executive departures and questions about its accounting and business model.

Saab moved closer to collapse on Friday as its owner rejected the latest rescue proposal from reluctant Chinese investors and its court-appointed administrator said the Swedish carmaker lacked the cash to carry on.

Oct 19, 2011
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M & A wrap: Groupon’s got a deal for you

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Groupon is planning to launch a roadshow for its initial public offering next week, on Monday or Tuesday, three sources familiar with the situation said.

Nasdaq expects between 15 and 20 more U.S. initial public offerings before the end of the year, a top executive at the company told Reuters. The company had initially foreseen as many as 120 IPOs in 2011, but the final tally for the year could come at 80 percent of that because of volatility in global markets.

Oct 18, 2011
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M & A wrap: Stalking Dexia

Qatar National Bank, the Gulf state’s largest lender, is eyeing Denizbank, the fast-growing Turkish arm of euro zone debt casualty Dexia, in a deal potentially worth up to $6 billion.

Deutsche Lufthansa may have to break up its British bmi unit to sell the underperforming carrier, as larger airlines eye its access at Heathrow airport and smaller players look to pick off its budget and regional operations.

Oct 17, 2011
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M & A wrap: Dollar Thrifty’s hard-earned lessons

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Dealpolitik lists the key lessons learned from Dollar Thrifty’s merger saga.

Rio Tinto signaled a major retreat from its aluminum business on Monday, putting an estimated $8 billion worth of assets up for sale across six countries, only four years after buying aluminum giant Alcan for $38 billion.

Kinder Morgan struck a $21 billion deal to buy rival El Paso, combining the two largest natural gas pipeline operators in North America in a huge bet on the fast-growing market for that fuel. The NYT takes a look at dealmaker Richard D. Kinder and how he has shaped Kinder Morgan.

Oct 7, 2011
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M & A wrap: Sony going solo?

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Sony is in talks to buy out Ericsson’s stake in their mobile phone joint venture, a source said, in a bid to catch up with rivals.

Belgium’s federal government and its regions clashed over the fate of the Belgian banking activities of stricken Dexia, delaying a joint Franco-Belgian rescue of the group.

Oct 6, 2011
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M & A wrap: Time to buy EMI?

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Warner Music Group Chairman Edgar Bronfman Jr. has tried to buy rival record label EMI Group for the last six years. Now, his time may have come, reports Yinka Adegoke.

Communications equipment maker Comtech, under pressure from an activist investor to evaluate a sale, is attracting potential takeover interest from several government contractors, people familiar with the situation said.

Oct 5, 2011
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M & A wrap: Yahoo on the block?

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Yahoo’s long-time advisers Goldman Sachs and Allen & Co are preparing to give potential buyers financial information, in a sign the troubled Internet giant is ready to put itself on the block, sources said.

Australian coalminer New Hope Corp put itself up for auction after receiving several bid approaches, sending its market value surging 15 percent to almost A$5.1 billion.

Oct 4, 2011
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M & A wrap: D.Boerse/NYSE deal trouble

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European Union regulators will formally object to the proposed merger of Deutsche Boerse and NYSE Euronext this week, two sources with knowledge of the case said, which may force the companies to offer concessions to ease competition concerns.

Private equity firms see only limited scope to invest in Europe’s under-capitalized banks, as they could run the risk of losing their shirts and face political resistance.

Oct 3, 2011
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M & A wrap: Alibaba interested in Yahoo

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Jack Ma, CEO of Chinese e-commerce giant Alibaba, is keen on buying Yahoo if the opportunity presents itself and has held discussions with other potential buyers about options. The potential deal is raising privacy concerns, reports the Financial Times. The WSJ also looks at what role Beijing would play in a merger.

Private equity funds in the Middle East and North Africa, under increasing pressure to produce returns for investors, have strategic buyers, including sovereign wealth funds, looming larger on their deal radar.

Sep 29, 2011
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M & A wrap: Bidders emerge for HSBC unit

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European insurers Allianz and AXA are among the potential bidders for HSBC’s sale of its general insurance business, which could fetch more than $1 billion, sources said.

Spain’s ruling Socialists abruptly shelved plans to boost public coffers by selling part of the lucrative state lottery, in the face of tough market conditions, political opposition and banks’ funding concerns.