Deals wrap: Facebook, Google dueling suitors for Skype

May 5, 2011

Internet giants Facebook and Google are separately considering a tie-up with Skype after the Web video conferencing service delayed its initial public offering, two sources with direct knowledge told Reuters. A Skype deal could be valued at $3 billion to $4 billion, according to one of the sources.

Swiss commodity trader Glencore’s planned $11 billion listing was fully covered on its first day as investors rushed to take part in the mega-float, two sources close to the deal said on Thursday. Investors placed orders for all the shares on offer, including a 10 percent overallotment option, sources said, adding it was too soon to say where in the indicated 480-580 pence ($0.79-0.95) range the shares would be priced.

Warner Music Group could reach a deal to sell itself as soon as close of business on Thursday when the board meets to make a final decision, according to two sources. The world’s third largest music company is expected to be sold for over $3 billion and leading the bidding is Russian-American industrialist Len Blavatnik’s Access Industries.

Shareholders in Actelion threw their weight behind the management of Europe’s largest biotech company, rejecting proposals by activist investor Elliott Advisors as a battle for control came to a head. New York-based hedge fund Elliott has urged the Swiss biotech group to seek a buyer after a string of product setbacks and has accused Actelion of pursuing a high-risk strategy that has eroded shareholder value.

Looking back over April, a month that has seen 31 companies file to go public in the U.S., this piece by Gwen Robinson for’s Alphaville explains the significance of the bumper crop of IPOs filed this month, including RenRen, Dunkin’ Donuts and Glencore, and why the recent IPO mania seems to be a global trend.

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