DealZone

Deals wrap: Bid for ING Direct USA

June 7, 2011
BP | deals wrap | GE | ING | IPO | LSE | m&a | rosneft | TMX

General Electric and Capital One have submitted bids for ING’s U.S. online banking operations in a deal worth about $9 billion, Bloomberg reports.

The frothy market for Internet IPOs is raising the specter of a bubble, underscoring how little has changed despite lawsuits and investigations in the wake of the 1990s dot-com craze.

Maple Group Acquisition Corp, which has gone hostile with its $3.7 billion offer for Toronto Stock Exchange operator TMX Group , is in talks to add at least three other financial-services companies to its consortium, the Wall Street Journal reports, citing sources.

BP is preparing to sell half of its 50 percent stake in TNK-BP to state-controlled Rosneft, the Wall Street Journal reports. The move represents an attempt to salvage a planned tie-up between BP and Rosneft, announced in January, and could be a negotiating tactic with AAR, the group of billionaires which owns the other half of TNK-BP, the Journal reports.

Chinese companies have stepped up acquisitions in Europe and the trend is expected to continue, reports the WSJ.

“In its quest to win approval of its $39 billion takeover of T-Mobile USA, AT&T just got a lot of help from its friends,” reports the New York Times.

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