Deals du jour

August 24, 2009

German Chancellor Angela Merkel says General Motors “urgently” needs to decide on Opel’s future, while specialty drugmaker Warner Chilcott moves to acquire Procter & Gamble’s $3 billion prescription-drug business.

For these stories, and all the rest of the latest deals news from Reuters, click here.

And here’s what caught our eye in the newspapers (some external links may require subscriptions):

* Harvard University’s multibillion-dollar endowment is adopting a strategy of selling off some holdings in hedge funds, private-equity firms and other money managers to bring more money under the control of internal investing staff over the next few years, the Wall Street Journal said.

* Entrepreneur Clive Cowdery’s Resolution (RSL.L) has held early stage talks with Lloyds Banking Group (LLOY.L) over the sale of its Clerical Medical unit, the Mail on Sunday reported, citing an unnamed source.

* Betfair, the world’s largest online gaming exchange, is considering a 1.5 billion pound ($2.5 billion) flotation in the UK, the Sunday Telegraph reported, citing no sources.

* Victor Blank, outgoing chairman of Lloyds Banking Group (LLOY.L), said the bank’s board was behind the decision to buy HBOS, not the UK government. Sunday Times story here.

* British merchant bank Close Brothers has made a bid for Kleinwort Benson, a private bank being sold by Commerzbank AG (CBKG.DE), the Sunday Times reported, citing no sources.

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