Deals wrap: Dealmakers play it safe

April 4, 2011

USA/Bankers taking part in the Reuters Global M&A Summit this week told correspondents Quentin Webb and Victoria Howley that despite a recent pickup in global dealmaking, economic fragility, natural disaster and political tumult in the Middle East are hurting corporate confidence and holding back a more robust M&A recovery.

“A new guard of private equity bosses has emerged at the top of the industry, striving to make their business more open before investors and policy makers, and alter preconceptions of this at times secretive industry,” writes Reuters private equity reporter Simon Meads.

Pfizer said it struck a deal to sell its Capsugel unit, the world’s largest maker of hard capsules, to private equity firm KKR & Co for nearly $2.38 billion.

Deutsche Boerse won’t make a decision on a higher bid for NYSE Euronext until the U.S. exchange’s board reacts to last week’s counter-offer from Nasdaq and IntercontinentalExchange, sources said.

Struggling pizza chain Sbarro said it filed for bankruptcy protection under Chapter 11, in a move aimed at eliminating about $200 million of its debt.

Minmetals Resources, China‚Äôs biggest metals trading firm, on Monday offered $6.5 billion to buy Equinox Minerals, chasing the target company’s copper assets in Zambia and Saudi Arabia.

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