Paritosh's Feed
Feb 21, 2014

Exclusive: Ally targets March IPO to raise up to $4.5 billion, government exit

By Paritosh Bansal and Olivia Oran

(Reuters) – Ally Financial Inc is hoping for an initial public offering of as much as $4.5 billion next month, sources familiar with the matter said, in a deal that would allow the U.S. government to make a profit on its crisis-era bailout of the auto lender.

Only the U.S. Treasury Department, which owns 37 percent of the former General Motors Co unit, is expected to sell stock in the IPO.

Feb 21, 2014

Ally targets March IPO to raise up to $4.5 bln, gov’t exit

Feb 21 (Reuters) – Ally Financial Inc is hoping for an
initial public offering of as much as $4.5 billion next month,
sources familiar with the matter said, in a deal that would
allow the U.S. government to make a profit on its crisis-era
bailout of the auto lender.

Only the U.S. Treasury Department, which owns 37 percent of
the former General Motors Co unit, is expected to sell
stock in the IPO.

Feb 4, 2014

Exclusive: Deutsche fires three New York forex traders – source

NEW YORK (Reuters) – Deutsche Bank AG DBKGN.DE has fired three New York-based currency traders, in the latest sign that a probe over alleged manipulation of foreign exchange markets is gathering steam, according to a source familiar with the situation.

Diego Moraiz, Robert Wallden and Christopher Fahy were terminated by the bank, which told trading floor staff of the development on Tuesday, according to the source.

Jul 27, 2013

Publicis, Omnicom to announce merger soon-source

PARIS/NEW YORK, July 27 (Reuters) – French advertising group
Publicis will soon announce a plan to combine with
larger rival Omnicom in a deal that will be presented as
a merger of equals and could include shared management, a person
familiar with the situation said.

Publicis said on Saturday that it plans to make a “major
corporate announcement” on Sunday at a media briefing at 1200
GMT at its Paris headquarters, without giving further details.

Jun 7, 2013

SoftBank eyes T-Mobile US as ‘Plan B’ -sources

June 7 (Reuters) – SoftBank Corp is in talks with
Deutsche Telekom AG over a possible deal for T-Mobile
US Inc, as the Japanese company looks for alternatives
to enter the U.S. wireless market if its deal with Sprint Nextel
Corp falls apart, three sources familiar with the matter
said on Friday.

SoftBank and Deutsche Telekom were in talks last year about
a deal for T-Mobile USA and have had periodic discussions since
then, but those conversations have intensified in recent weeks
after Dish Network Corp made a $25.5 billion counterbid
for Sprint, two of the sources said. SoftBank has a deal to buy
70 percent of Sprint for $20.1 billion.

Jun 7, 2013

SoftBank eyes T-Mobile US as ‘Plan B’ -sources

June 7 (Reuters) – SoftBank Corp (9984.T: Quote, Profile, Research) is in talks with
Deutsche Telekom AG (DTEGn.DE: Quote, Profile, Research) over a possible deal for T-Mobile
US Inc (TMUS.N: Quote, Profile, Research), as the Japanese company looks for alternatives
to enter the U.S. wireless market if its deal with Sprint Nextel
Corp (S.N: Quote, Profile, Research) falls apart, three sources familiar with the matter
said on Friday.

SoftBank and Deutsche Telekom were in talks last year about
a deal for T-Mobile USA and have had periodic discussions since
then, but those conversations have intensified in recent weeks
after Dish Network Corp (DISH.O: Quote, Profile, Research) made a $25.5 billion counterbid
for Sprint, two of the sources said. SoftBank has a deal to buy
70 percent of Sprint for $20.1 billion.

Jun 7, 2013

Exclusive: SoftBank eyes T-Mobile US as ‘Plan B’

By Paritosh Bansal and Soyoung Kim

(Reuters) – SoftBank Corp (9984.T: Quote, Profile, Research, Stock Buzz) is in talks with Deutsche Telekom AG (DTEGn.DE: Quote, Profile, Research, Stock Buzz) over a possible deal for T-Mobile US Inc (TMUS.N: Quote, Profile, Research, Stock Buzz), as the Japanese company looks for alternatives to enter the U.S. wireless market if its $20.1 billion deal with Sprint Nextel Corp (S.N: Quote, Profile, Research, Stock Buzz) falls apart, according to three sources familiar with the situation on Friday.

SoftBank and Deutsche Telekom were in talks last year about a deal for T-Mobile USA and have had periodic discussions since then, but those conversations have intensified in recent weeks after Dish Network Corp (DISH.O: Quote, Profile, Research, Stock Buzz) made a $25.5 billion counterbid for Sprint, two of the sources said.

May 23, 2013

AIG eyes new director with regulatory experience

May 23 (Reuters) – American International Group Inc’s
board is looking for a new director with regulatory
experience, as the insurer readies for the government to
classify it as big enough to merit greater scrutiny, according
to two sources familiar with the situation.

AIG, which is already regulated by the U.S. Federal Reserve,
expects more oversight if it is declared a “systemically
important financial institution,” or SIFI. The designation is
widely expected after the U.S. Financial Stability Oversight
Council told the company in October that it may do so.

Mar 25, 2013

Dell says Blackstone, Icahn offers may be superior

By Jessica Toonkel and Paritosh Bansal

(Reuters) – Dell Inc (DELL.O: Quote, Profile, Research) said it received alternative proposals from Blackstone Group LP (BX.N: Quote, Profile, Research) and Carl Icahn that could be superior to the $24.4 billion offer from founder Michael Dell and private equity fund Silver Lake Partners last month.

Michael Dell is willing to explore the possibility of working with third parties regarding alternative offers, the company said on Monday.

Mar 24, 2013

Dell’s board evaluates rival bids: source

By Jessica Toonkel and Paritosh Bansal

(Reuters) – A special committee of Dell Inc’s board is evaluating separate takeover proposals from Blackstone Group and billionaire investor Carl Icahn to decide whether either or both are likely to trump an existing $24.4 billion take-private deal, a source familiar with the discussions said on Sunday.

Icahn and Blackstone put in preliminary bids late last week, potentially upsetting the plans of the No. 3 PC maker’s founder, Michael Dell, and private equity firm Silver Lake to take Dell private.