M & A wrap: Hostess files for bankruptcy
Twinkies and Wonder Bread maker Hostess Brands Inc filed for bankruptcy protection for the second time in less than three years, after failing to reach an agreement with workers on pension and health benefits. The company, which has about $860 million in debt, said it does not expect disruptions in the manufacturing and delivery of its products during the bankruptcy process.
Deutsche Boerse’s last-ditch lobbying efforts in support of its proposed takeover of NYSE Euronext look set to fail, leaving the deal heading for the rocks with European antitrust regulators expected to block the deal.
Alibaba Group has reduced the size of its debut loan to $3 billion, the funds which the Chinese e-commerce giant plans to use to buy back part of the 40 percent stake held by Yahoo.
As Mitt Romney has established himself as the front-runner for the Republican nomination, private equity becomes part of the debate, according to The New York Times.
Bloomberg writes about hedge funds sitting out of stocks rally. “Hedge funds have made massive mistakes,” George Feiger, chief executive officer of Contango Capital Advisors Inc, the San Francisco-based wealth management arm of Zions Bancorporation, told Bloomberg in a telephone interview.