M & A wrap: Stalking Dexia
Qatar National Bank, the Gulf state’s largest lender, is eyeing Denizbank, the fast-growing Turkish arm of euro zone debt casualty Dexia, in a deal potentially worth up to $6 billion.
Deutsche Lufthansa may have to break up its British bmi unit to sell the underperforming carrier, as larger airlines eye its access at Heathrow airport and smaller players look to pick off its budget and regional operations.
The NYT’s DealBook digs into the red flags surrounding Groupon and asks the questions: “How did so many Wall Street firms desperate to underwrite the Groupon I.P.O. miss the warning signs when pitching such a sky-high valuation? Or did they just turn a blind eye?”
Sears is allowing competitors to sell its Craftsman, DieHard batteries and possibly Kenmore brands, which may bump short-term earnings. “But critics worry that it could, in the end, just be digging the once omnipresent retailer a deeper grave,” reports Fortune.