Deals du Jour
Australia and New Zealand Banking Group agreed to pay $550 million to buy some Asian units from British lender Royal Bank of Scotland , taking Australia’s fourth largest bank closer to its goal of generating a fifth of its revenue from Asia by 2012, Reuters reported.
In other M&A related stories reported by Reuters and other media on Tuesday:
Miner Xstrata posted a sharp drop in profit as a result of weak metal prices and warned hopes of a quick recovery may be premature, adding it still sought a “merger of equals” with rival Anglo American, Reuters reported. But Xstrata unveiled no new initiatives related to the courtship.
Britain’s Financial Services Authority has launched a wide-ranging review of UK equity markets, covering aspects such as high-frequency trading and so-called “dark pools”, the Financial Times reported.