DealZone Daily

January 21, 2010

Thursday’s highlights:

* Warren Buffett says Kraft Foods Inc’s proposed $19.6 billion acquisition of Cadbury Plc is a “bad deal” and questions how Chief Executive Irene Rosenfeld chose to pay for it.

* Oracle Corp will likely win European Union approval to buy Sun Microsystems Inc before the end of this week, clearing the way to close the long-delayed $7 billion deal, according to a person close to the company.

* Several Democratic lawmakers express concern that the merger of Exxon Mobil and XTO Energy would reduce competition in the oil and gas industries and increase the use of a controversial drilling technique that could pollute water supplies.

* South Korea’s Samsung Life Insurance has sought preliminary approval for an initial public offering (IPO) to list on South Korea’s main KOSPI index , the Korea Exchange says.

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):

* Guy Hands’ move from London to Guernsey for tax reasons caused profits to almost halve last year at Terra Firma, the private equity firm that he founded and owns, according to the FT.

* Taylor Wimpey, one of Britain’s biggest housebuilders, has appointed JP Morgan Cazenove to advise on a potential $1bn flotation of its recovering North American business, the Telegraph says.

* JPMorgan Asset Management was rapped on the knuckles by Irish regulators yesterday for failing to declare trades during the contested bid for Dragon Oil by Dubai’s national oil company last year, the FT says.

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