Deals du Jour
Bank of America fails to meet a deadline to hand lawmakers further details about its acquisition of Merrill Lynch and faces the possibility of new charges from U.S. securities regulators. Meanwhile, Oracle Corp (ORCL.O) Chief Executive Larry Ellison says Sun Microsystems Inc (JAVA.O) is losing about $100 million a month as European regulators delay approving his company’s $7 billion purchase of the struggling hardware maker. And in Asia, China Investment Corp, the $200 billion sovereign wealth fund, buys a 14.5 percent, $850 million stake in trading firm Noble Group (NOBG.SI), giving China greater exposure to global commodities and trading expertise.
For these stories and more deals-related news from Reuters, click here.
Here’s what we found in Tuesday’s papers:
* The head of confectioner Cadbury PLC (CBRY.L), which is facing a possible takeover by U.S. food giant Kraft Foods Inc (KFT.N), said there were some “complementary elements” in the two companies’ portfolios, according to a Wall Street Journal report.
* Plantation and palm oil processor Wilmar International (WLIL.SI) is expected to spin off its China food operation, raising up to HK$27.3 billion ($3.5 billion) in a flotation of shares in Hong Kong in October, the Hong Kong Economic Times reported. Reuters story here.