Weak pricing for Citic Securities’ Hong Kong share sale and a soft Shanghai debut for Great Wall Motor showed greater China’s IPO markets, while still open, are buckling in the face of economic uncertainty and hefty supply.
French insurer AXA confirmed it is exploring the possible sale of its private equity unit, adding that there is no guarantee that the process will lead to a transaction.
“Warren Buffett’s determination that Berkshire Hathaway shares are cheap enough to buy back may mean the Standard & Poor’s 500 Index is also a bargain,” reports Bloomberg.
London Stock Exchange head Xavier Rolet has won the backing of LCH.Clearnet’s board for his planned $1.3 billion takeover of Europe’s largest independent clearing house, a source familiar with the situation said.
Warren Buffett’s conglomerate Berkshire Hathaway said it will launch a share buyback program, an extremely rare move from Buffett that comes after months of investor complaints that the stock was undervalued.
The London Metal Exchange has thrown open its doors to a potential $1.5 billion takeover and is considering a sale that might end the independence its chief executive previously said was not negotiable.
Mergers and acquisitions slowed significantly in the third quarter, stymied by economic uncertainty that stifled the confidence and growth horizons of corporate executives, according to Wall Street dealmakers. Go to the Global Deals Review: Q3 2011 page for full coverage.
At least seven firms, mainly private equity, have shown interest in data and analytics company CoreLogic, attracted by its growth businesses and relatively cheap valuations. Might it be sold whole or in pieces?
AT&T, Deutsche Telekom and T-Mobile USA have amassed an army of former senior government antitrust officials to try to save their $39 billion deal to combine wireless businesses.
“While Hewlett-Packard directors deliberate over the potential dismissal of the tech giant’s chief executive, Léo Apotheker, the board is expected to also consider what will become of his two biggest initiatives: a big acquisition and a potential spinoff of its PC business,” the NYT reports.
SABMiller agreed to buy Foster’s for an increased price of A$5.10 a share valuing the Australian beermaker at $10.2 billion and putting SABMiller at the head of Australia’s beer market.
“Google’s critics get a chance to vent today, using the invective of antitrust. A hearing of the Senate antitrust subcommittee is also something of a swan song for its retiring chairman, the estimable Herb Kohl,” the WSJ said in an opinion piece.
Private equity firms, like Richard Ong’s RRJ Capital, are stepping into China where hedge funds once roamed, pursuing deals that look more like short term financing than long term growth bets.
Rising buyouts between China and Japan, abundant leveraged debt in the region and the depth of China’s markets mean Asia-Pacific private equity will continue to outperform the Western model, leading Asia fund managers said.
The auction of online video site Hulu has been slowed by recent developments which could derail it completely, according to sources familiar with the process.
Diversified manufacturer Tyco is moving to separate its businesses into three independent publicly traded companies, becoming the latest U.S. conglomerate to do so.
Groupon seeks to go public in October or November, people familiar with the matter told the New York Times, a week after the daily deals website put its IPO on hold for a few weeks as it waited to ride out global market turmoil.
Rather than wasting time and money with a costly takeover battle with Ralcorp and its strong takeover defenses, ConAgra may soon look at other deals in the private-label business, a source familiar with the situation said.