M & A wrap: Weak deal-making hurts JPMorgan earnings
JPMorgan Chase & Co’s fourth-quarter earnings fell 23 percent, in line with Wall Street expectations, as the European debt crisis depressed trading and corporate deal-making. Its figures show Wall Street firms such as Goldman Sachs and Morgan Stanley are in for a tough quarter as investment banking results suffer.
Private equity firm TPG Capital is willing to invest about $1 billion in Japan’s Olympus Corp in a joint deal with Sony Corp or another suitor circling the scandal-hit firm, a source told Reuters.
Meanwhile, TPG, US Airways Group and Delta Airlines are among several parties interested in potential bids for AMR Corp, the bankrupt parent of American Airlines.
Kodak is in advanced talks with Citigroup to provide bankruptcy financing, Bloomberg reports.
Deal Journal explains why it’s tough for the New York Times Co to sell the Boston Globe.