DealZone Daily

April 6, 2010

U.S. coal miner Peabody Energy raises its offer for Australia’s Macarthur Coal to $3.3 billion, but the new offer is below Macarthur’s market price, suggesting the bidding could go higher.

Billionaire U.S. investor Wilbur Ross pays 100 million pounds to take a 21 percent stake in new UK bank Virgin Money, and could commit up to 500 million pounds to support a bid to buy the branch network of the Royal Bank of Scotland and other deals, he tells Reuters.

Loss-making Japanese electronics firm Hitachi will seek more alliances and acquisitions, as well as introduce a new governance system to help accelerate decision-making, its new president says.

And in M&A and corporate finance news reported by other media on Tuesday:

Four parties are interested in General Electric’s 21 percent stake in Garanti Bank, including National Bank of Kuwait and sovereign wealth fund Qatar Investment Authority, a Turkish newspaper says. Click here for the Reuters story.

Robert Maguire III, founder and former chief executive of Maguire Properties, is offering to buy three of the company’s buildings he believes are at risk of default, according to the Wall Street Journal.

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