DealZone

M & A wrap: Facebook’s revenue hits $1.6 billion in H1

September 7, 2011

Facebook’s revenue rose to $1.6 billion in 2011′s first half, a source with knowledge of its financials told Reuters.

Yahoo Chairman Roy Bostock fired CEO Carol Bartz over the phone on Tuesday, ending a tumultuous tenure marked by stagnation and a rift with Chinese partner Alibaba.

Yahoo’s new CEO should keep the strategy of Bartz in resisting attempts by Alibaba to end their venture, Bloomberg reports.

“With the Yahoo board firing Bartz as chief executive, the the onetime Internet giant’s already clouded future just got murkier — and might make it a takeover target once more,” reports DealBook.

Former BP boss Tony Hayward has returned to the oil business with an agreement to acquire Turkish explorer Genel Energy via a reverse takeover to create a Kurdistan-focused group worth $4 billion.

ConocoPhillips will divulge more details on Wednesday about its plan to split in two and analysts say the focus will likely be on its chemical joint venture, Canadian oil sands assets and pipelines.

Chinese online business-to-consumer retailer Jingdong Mall kicks off its U.S. IPO process next week, aiming to raise $4-5 billion in what could be the biggest-ever internet IPO in the United States, IFR said.

AT&T can lower the price it pays for T-Mobile USA if the remedies requested by regulators become too expensive, a Bloomberg report said, citing three people with direct knowledge of the merger contract.

“To paraphrase the Prussian military strategist Karl von Clausewitz, litigation is the continuation of politics by other means,” writes The Deal Professor about AT&T’s battle for T-Mobile.

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