M & A wrap: Dream team hired to save T-Mobile deal
AT&T, Deutsche Telekom and T-Mobile USA have amassed an army of former senior government antitrust officials to try to save their $39 billion deal to combine wireless businesses.
“While Hewlett-Packard directors deliberate over the potential dismissal of the tech giant’s chief executive, Léo Apotheker, the board is expected to also consider what will become of his two biggest initiatives: a big acquisition and a potential spinoff of its PC business,” the NYT reports.
United Technologies has reached a $16.5 billion cash deal to acquire aircraft components maker Goodrich. The deal comes as blue-chip United Tech looks to cash in on the upswing in plane orders and production as declining global spending on defense pressures its military business. The WSJ gets analysts’ reaction to the deal.
China’s Sany Heavy Industry has postponed its up to $3.3 billion Hong Kong share offering due to tumbling global markets, three sources with direct knowledge of the decision said.
“LivingSocial is considering postponing an initial public offering in favor of collecting about $200 million in a fund-raising round that would value the online coupon company at about $6 billion,” the NYT reports.