Deals wrap: Valuing Groupon
Groupon trimmed marketing costs in the second-quarter but its loss more than doubled as it hired new employees, the Internet daily deals company said in an update filing for its IPO.
Global brewer SABMiller is set to renew its assault on Australian bid target Foster’s later this month with a slightly higher offer likely to succeed after rival bidders fail to appear, bankers and investors told Reuters.
HSBC is selling its U.S. credit card arm to Capital One Financial Corp in a $32.7 billion deal as Europe’s top bank streamlines its mammoth operations. Capital One said it was paying a $2.6 billion premium over the value of the loans.
The NYT’s Steven M. Davidoff looks into General Maritime’s $200 million loan from Oaktree Capital Management. “When you play with the big boys, you sometimes get hurt,” reports Davidofff.
“AT&T, looking to win approval for its proposed $39 billion acquisition of T-Mobile, is facing a challenge in California where regulators have raised questions about the deal’s effect on consumers and corporate customers,” Bloomberg reports.