M & A wrap: HSBC Holdings to sell unit
HSBC Holdings has launched the sale of its non-life insurance business, sources told Reuters, a global division worth about $1 billion and now part of the bank’s plan to strip away non-core units.
Suzuki Motor wants to end its two-year-old alliance with Volkswagen after the German carmaker accused it of violating their partnership pact by agreeing a diesel engine deal with Italy’s Fiat.
“Much of the blame for Yahoo Inc.’s lack of revenue growth in recent years fell on Chief Executive Carol Bartz. Now, that investor angst has shifted to Yahoo Chairman Roy Bostock,” reports the WSJ.
Wireless chipmaker Broadcom agreed to buy NetLogic Microsystems for about $3.7 billion to extend its range of chipmaking technology for more advanced networks.
For your morning distraction, here’s the TechCrunch/AOL saga told as a Star Wars tale.