Deals du jour
Pfizer is seeking deals in emerging markets, while Nomura and T&D are among second-round bidders for Citigroup’s Japanese asset management arm. Get all the latest deals news from Reuters here.
And in the newspapers:
Alan Lewis, owner and chairman of overcoat maker Crombie, has made an approach to Aquascutum’s Japanese owner Renown to acquire the label’s British business including its manufacturing operation, the Financial Times reported. (Link may require subscription).
The head of German chemicals company Bayer said debt reduction and securing liquidity was taking precedence over acquisitions during the economic crisis, the Sueddeutsche Zeitung reported. Reuters story here.
E.ON plans to cut up to 9,000 jobs as part of its cost-cutting programme that aims to save 1.5 billion euros ($2.1 billion) by 2011, Die Welt newspaper reported, citing information from trade union Ver.di. Reuters story here.
Ripplewood, the private equity group, is ready to return with a bid for General Motors Europe should the carmaker’s Canadian suitor Magna fail to complete its acquisition, the Times said, without citing its sources.