Deals du jour
Barclays mulls a sale of its private-equity arm, AIG says it will pursue a New York public offering for its life-insurance unit, and CIT’s assets appear attractive, but only to bargain-hunters. For these stories and all the rest of the latest deals news from Reuters, click here.
And in the newspapers (some external links might require subscriptions):
* Bank of America Corp (BAC.N) is operating under a secret U.S. regulatory sanction that requires it to overhaul its board and address perceived problems with risk and liquidity management, The Wall Street Journal reported, citing people familiar with the situation.
* Nippon Steel Corp (5401.T), the world’s second-biggest steelmaker, plans to roughly double its stake in affiliate Nisshin Steel Co (5407.T) to up to 20 percent to strengthen the group’s stainless steel business, the Asahi newspaper reported. Reuters story here.
* The owners of indebted automotive group Porsche SE (PSHG_p.DE) have agreed in principle to accept Volkswagen’s (VOWG.DE) plan for a merger but the deal awaits final approval, German newspapers reported. Reuters story here.
* A consortium led by Manchester Airport Group and Canada’s Borealis has refused to raise its final bid of about 1.4 billion pounds ($2.3 billion) for Gatwick Airport, the Financial Times reported. Guardian story here.