Paritosh's Feed
Jan 14, 2012

BankUnited hires Goldman, eyes sale: sources

NEW YORK (Reuters) – BankUnited Inc’s (BKU.N: Quote, Profile, Research, Stock Buzz) private equity owners have put the Florida bank up for sale and have hired Goldman Sachs Group Inc (GS.N: Quote, Profile, Research, Stock Buzz) to run the process, sources familiar with the matter said on Friday.

BankUnited was approached by more than one strategic bidder, prompting the review, and a decision on whether a sale takes place could come in the next two weeks, one of the sources said.

Jan 11, 2012

Deutsche Boerse lobby in Europe to save deal – source

NEW YORK/FRANKFURT (Reuters) – Deutsche Boerse (DB1Gne.DE: Quote, Profile, Research) and NYSE Euronext (NYX.N: Quote, Profile, Research) have launched a lobbying effort in Europe to save their $9 billion (5.8 billion pounds) merger, as European antitrust regulators made it clear they would recommend the deal be blocked, a source familiar with the situation said on Tuesday.

European Commission antitrust chief Joaquin Almunia and the case team plan to make the recommendation to the so-called college of 27 commissioners, who are expected to meet early next month to decide on the fate of the deal, the source said.

Jan 10, 2012

DB lobby in Europe to save deal: source

NEW YORK/FRANKFURT (Reuters) – Deutsche Boerse and NYSE Euronext have launched a lobbying effort in Europe to save their $9 billion merger, as European antitrust regulators made it clear they would recommend the deal be blocked, a source familiar with the situation said on Tuesday.

European Commission antitrust chief Joaquin Almunia and the case team plan to make the recommendation to the so-called college of 27 commissioners, who are expected to meet early next month to decide on the fate of the deal, the source said.

Dec 30, 2011

Ackman wants ex-CN CEO to run Canadian Pacific-source

NEW YORK/TORONTO, Dec 30 (Reuters) – Activist investor
Bill Ackman wants Hunter Harrison, the retired chief executive
of Canadian National Railway (CNR.TO: Quote, Profile, Research), to help engineer a
turnaround at Canadian Pacific Railway (CP.TO: Quote, Profile, Research), a source
familiar with the situation said on Friday.

Ackman, whose hedge fund, Pershing Square Capital, has built
up a 14.2 percent stake in CP, has suggested to the company’s
board that Harrison should replace CEO Fred Green, the source
said.

Dec 28, 2011

Alibaba hires U.S. lobbying firm as it eyes Yahoo

By Paritosh Bansal and David Ingram

(Reuters) – Alibaba Group has hired Washington lobbying firm Duberstein Group Inc, in a sign that the Chinese company would be willing to make a bid for all of Yahoo Inc if talks for buying back Yahoo’s Asian assets do not succeed.

Japan’s Softbank Corp is also listed as an Alibaba affiliate in the lobbying firm’s disclosure.

Dec 27, 2011

Carlyle launches new financial firms buyout fund

By Greg Roumeliotis and Paritosh Bansal

(Reuters) – The Carlyle Group CYL.UL has started fundraising for a new global financial services buyout fund that is seeking to top its previous $1.1 billion fund, which is now almost fully invested, a person familiar with the matter said on Tuesday.

With about 90 percent of its first financials buyout fund spent, the private equity group is looking for more firepower as Europe’s financial crisis and higher capital requirements for banks offer new investment opportunities, the source said.

Dec 22, 2011

EC antitrust officials not swayed by NYSE-Deutsche Boerse

FRANKFURT/NEW YORK (Reuters) – European Commission antitrust officials on Wednesday showed no sign of being swayed by Deutsche Boerse and NYSE Euronext’s last-ditch arguments to save their $9 billion deal, sources said, making it increasingly likely the exchange operators will have to take their campaign directly to the commissioners.

A meeting with members of the EC antitrust case team was factual and cordial, two people familiar with the meeting said, but executives and regulatory officials appeared to remain at loggerheads over their views about the derivatives market.

Dec 22, 2011

EC antitrust officials not swayed by NYSE-D.Boerse

FRANKFURT/NEW YORK, Dec 21 (Reuters) – European
Commission antitrust officials on Wednesday showed no sign of
being swayed by Deutsche Boerse and NYSE Euronext’s last-ditch
arguments to save their $9 billion deal, sources said, making it
increasingly likely the exchange operators will have to take
their campaign directly to the commissioners.

A meeting with members of the EC antitrust case team was
factual and cordial, two people familiar with the meeting said,
but executives and regulatory officials appeared to remain at
loggerheads over their views about the derivatives market.

Dec 22, 2011

Yahoo to weigh deals for Asian assets: sources

NEW YORK/SAN FRANCISCO (Reuters) – Yahoo Inc is considering a plan to unload most of its prized Asian assets in a complex deal valued at roughly $17 billion, sources familiar with the matter said on Wednesday, winning nods of approval from Wall Street and driving its shares higher.

The offer – the latest among proposals put forth in recent months to resuscitate the once high-flying Internet company – is expected to be considered by Yahoo’s board on Thursday, sources said.

Dec 9, 2011

DealTalk: Defenses down, U.S. firms vulnerable to hostile bids

NEW YORK (Reuters) – Takeover defense measures such as poison pills and staggered boards are at their lowest levels in more than a decade, making U.S. companies more vulnerable at a time when hostile bids are expected to rise.

The number of staggered or classified boards among S&P 500 companies — where only a handful of directors come up for election in any given year — has fallen to 25 percent from nearly 62 percent in 2002, according to FactSet SharkRepellent.