M & A wrap: JAL eyes sharp turnaround
Japan Airlines plans to raise more than $6.5 billion ahead of re-listing its shares as early as September, a source with knowledge of the matter said, marking a sharp turnaround for the carrier following its bankruptcy in 2010. The public offering is expected to rank as Japan’s largest since Dai-Ichi Life Insurance raised 1 trillion yen in 2010, and will likely be carried out against a backdrop of tough industry competition and sluggish economic growth.
Eastman Kodak is preparing a Chapter 11 bankruptcy protection filing in the coming weeks in case it is unable to sell its digital patents to raise capital, The Wall Street Journal reports.
Blackstone Group will conclude fundraising for its latest buyout fund in January, raising just over $16 billion in a 4-year process challenged by the global financial crisis.
Investors are eagerly anticipating an offering from Facebook, which is expected to go public in the second quarter at a market value of $100 billion. But other companies — including Toys “R” Us, Yelp and the Carlyle Group — may not get such a warm reception, according to the DealBook.
Italy’s Fiat has raised its stake in Chrysler by 5 percent to 58.5 percent, meeting a final target set by the U.S. government as the two groups move closer to creating one of the world’s leading auto makers.
Barnes & Noble is considering splitting off its Nook electronic reader business, which has been the main growth engine for the company.


