M & A wrap: Groupon scales back IPO
Groupon plans to raise as much as $540 million in an initial public offering, less than previously planned, as the daily deals website grapples with a weak equity market, executive departures and questions about its accounting and business model.
Saab moved closer to collapse on Friday as its owner rejected the latest rescue proposal from reluctant Chinese investors and its court-appointed administrator said the Swedish carmaker lacked the cash to carry on.
Scandal-hit Japanese firm Olympus gave in to shareholder pressure over massive fees paid to advisers in a 2008 acquisition, announcing it would set up a third-party panel to examine its past M&A deals.
“A growing number of large companies are challenging the synergy gospel by spinning pieces of their business off into independent entities,” reports Fortune.
For your morning distraction: Occupy Tatooine