Thursday’s top stories:
* Dai-ichi Life Insurance (8750.T) jumps 14 percent in its market debut after Japan’s No. 2 life insurer priced its $11 billion initial public offering, the world’s biggest since 2008, at a discount to rival insurers.
* Struggling music major EMI has failed to clinch a licensing deal for its North American rights, sources said, making a covenant breach inevitable and pushing its owner Terra Firma back to investors for more cash.
* Australian gold miner Lihir Gold rejects a $8.45 billion takeover offer from rival Newcrest Mining , saying it failed to capture the growth potential in its biggest mine in Papua New Guinea and in West Africa.
* General Growth Properties Inc of the United States filed an eagerly awaited plan to exit bankruptcy on its own and laid out bidding procedures, setting the stage for others like Simon Property Group Inc to jump in with rival offers.
* Peter Thal Larsen of Reuters Breakingviews examines a speech by the Bank of England’s executive director in charge of financial stability that “makes reference to the structure of al Qaeda, the limits of Facebook friendship, and the world domino-toppling record“. But, he says, the comments “contain a serious message: regulators are thinking increasingly radical thoughts about tackling big banks”.
For more on these and the rest of the latest deal-related news from Reuters, click here.
And elsewhere on the web (some external links may require subscriptions):
* U.S. hedge fund York Capital Management is in talks to sell a minority stake to the Swiss bank Credit Suisse, the Wall Street Journal says, citing people close to the matter.