M & A wrap: Swift takeover for Olympus unlikely
Olympus Corp should be the easiest of takeover targets: a profitable business with its share price in tatters, its management in utter disgrace and its balance sheet in need of fresh capital. But not in Japan. Reuters reporter Isabel Reynolds explains why.
Bonuses are sinking at Morgan Stanley, with cash payouts capped at $125,000, The Wall Street Journal reports.
Want to know how Wall Street firms determine bonuses to their employees? The New York Times talks to “the invisible hand behind bonuses on Wall Street”.
AIA Group, Asia’s No.3 insurer and about one-third owned by American International Group Inc, may bid for the $6 billion Asian insurance operations of ING, sources said, with the prospective sale expected to draw heavy interest from rivals.
Japan’s Sumitomo Mitsui Financial Group (SMFG) and Sumitomo Corp are buying the aircraft-leasing business of Royal Bank of Scotland in a deal worth $7.3 billion, in the most aggressive acquisition by a Japanese lender since European banks began offloading non-core assets.
Private equity executive Paul Levy defends his business in an interview with DealBook, saying “I think it’s a pretty honorable industry.”