M & A wrap: Chinese buyers circling more European assets
Fresh signs of a mooted wave of Chinese money looking to buy European assets on the cheap emerged, with a major bank said to be in the running for parts of Britain’s RBS and an Italian yacht maker seen in the sights of Shangdong Heavy Industry.
Federal authorities investigating the collapse of MF Global have expanded their inquiry to include the actions of the CME Group, the operator of the main exchange where the commodities brokerage firm conducted business, the DealBook reports, citing people briefed on the matter.
The Daily Beast says Yahoo is now on a deathwatch. “Less than 16 years ago, Yahoo was an Internet sensation that vanquished rivals like Lycos and Excite. Now, even with a new CEO and a vast audience, it is on the verge of eclipse—as is Kodak, another firm once on the cutting edge,” author Zachary Karabell writes.
Michael Woodford, the ousted British CEO of disgraced Olympus Corp who blew the whistle on a $1.7 billion accounting fraud, dropped his bid to return to lead the medical device maker, blaming cozy ties between its management and big Japanese shareholders.
Millennial Media Inc., the second- largest mobile-advertising company in the U.S., filed for a $75 million initial public offering, Bloomberg reports.