M & A wrap: Backing away from CCB stake
Bank of America Corp is selling about half its stake of China Construction Bank to a group of investors for $8.3 billion in cash, the bank said.
Greece’s Alpha and EFG Eurobank sealed a mega merger, with the help of Qatar, that is expected to trigger more deals to shore up banks battered by a severe debt crisis and recession.
Zynga, the social games maker may delay its plans for an initial public offering until November because of poor market conditions, the New York Post newspaper reported late on Sunday.
“TMX Group, which has gained the most of any exchange involved in the industry’s biggest wave of acquisitions, is now in danger of being left without a buyer,” reports Bloomberg.