DealZone Daily

December 11, 2009

Friday’s highlights:

Bonus watch: Goldman Sachs Group Inc plans to pay top managers their 2009 bonuses in stock, rather than cash, as it seeks to deflect outrage over a near-record pay haul months after it repaid billions of dollars in taxpayer aid.

UK fund manager Gartmore has lowered price guidance on its initial public offer (IPO) and restructured the deal after investors balked at the valuation, a banking source close to the sale says.

Swedish private equity firm EQT says it, together with the Singapore government, will buy scientific journal publisher Springer Science and Business Media for an undisclosed sum. EQT’s purchase of Springer, from rivals Candover and Cinven, was first reported by Reuters on Wednesday. (See some of the articles Springer has published by Nobel Prize winners here.)

French bank Societe Generale says it is close to reaching a definitive deal with rival Dexia over buying Dexia’s 20 percent stake in Credit du Nord to give SocGen full control.

Oracle Corp’s customers tell concerned European Union regulators the U.S. software company’s $7 billion deal to buy Sun Microsystems Inc will not curtail competition in the database market.

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

And elsewhere (some external links may require subscriptions):

British Airways PLC has decided to keep full ownership of its OpenSkies subsidiary after seeking outside investors, as the industry continues to show interest in value-oriented airlines amid the economic downturn, the WSJ says.

Google Inc. and Apple Inc., which have long thrived without treading on one another’s turf, are vying to acquire some of the same Silicon Valley start-ups and developing products that put themselves in more direct competition, the WSJ says.

The FT says the median private equity buy-out deal has shrunk by 85 per cent in the credit crunch, according to research from one of Europe’s biggest investors. See the Partners Group study, first published in late November, here.

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