Deals wrap: Timberland shares jump
VF Corp, owner of clothing brands such as The North Face and Wrangler jeans, said it would buy Timberland for $2 billion. The deal values the shoemaker at $43 a share, a 43 percent premium to Friday’s closing price of $29.99 on the New York Stock Exchange.
For many potential investors Russia is synonymous with corruption, weak rule of law and political risk, its reputation hurt by events such as the jailing of oil tycoon Mikhail Khodorkovsky. Vladimir Putin is trying to turn that image around by telling investors to invest in Russia, and have Russia invest in you.
Maple Group launched a $3.8 billion hostile bid for Toronto Stock Exchange operator TMX Group, an all-Canadian challenge to the London Stock Exchange’s agreed bid.
HSBC Holdings will run down its $33 billion U.S. credit card business if it cannot find a buyer, the bank’s chief executive said, part of efforts to slash costs and cut back on retail banking.
President Obama is trying to give his campaign coffers a bump by schmoozing Wall Street executives, the NYT’s reports.