DealZone Daily

January 19, 2010

Tuesday’s highlights:

* U.S.-based Kraft Foods Inc and Britain’s Cadbury Plc are close to sealing a friendly deal to create the world’s largest confectionery group for up to 11.7 billion pounds ($19 billion), sources familiar with the matter say.

* Japan Airlines Corp’s board of directors decided on Tuesday to file for bankruptcy protection, Kyodo news agency says.


* Industrial conglomerate Tyco International will acquire Broadview Security for $1.9 billion in a deal that brings together two large providers of residential and commercial security in North America, the two companies say.

* Chinese wind power producer Xinjiang Goldwind Science & Technology Co has chosen China International Capital Corp (CICC) as lead underwriter for a Hong Kong initial public share offering aimed at raising $1.5 billion in the first half of 2010, sources close to the plan say.

For more on these and the rest of the latest deal-related news from Reuters, click here.

And elsewhere (some external links may require subscriptions):

* Nils Pratley in the Guardian says Cadbury’s board has rolled over too cheaply: “So that’s what “derisory” means – give us another 10% and our defences will crumble.”

* Chinese energy group Sinopec (0386.HK) is in talks with Britain’s BP (BP.L) over potentially collaborating in the exploration and development of shale gas in China, the Financial Times says.

* Private equity groups completed the fewest UK deals for 25 years in 2009, as the credit crisis cut off the supply of cheap debt and dissuaded business owners from selling out, the FT says.

* The race for German generic-drug maker Ratiopharm has practically narrowed to Israel’s Teva (TEVA.TA) and U.S. drug major Pfizer (PFE.N), German business daily Handelsblatt says. Reuters story here.

* Despite heavy speculation, it took eight hours for the confirmation there would be no GDF bid for International Power. Does this hint at round two, asks David Wighton in the Times.

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