DealZone

The Afternoon Deal: Reuters Summit exclusives

USA/At the Private Equity and Hedge Funds Summit, Primus co-CEO Robert Morse tells Reuters the opportunities in real estate in the U.S. are extraordinary. The $1.2 billion financial investment firm is now setting its sights on property owned by distressed sellers in the United States.

Here is a selection of the best stories from today’s summit:
BC Partners boss sees mini-bubble brewing
CQS raises $750 million for convertibles
BC Partners to court sovereign fund investors
Toscafund says UK stocks’ low value “absurd”

From the Web:

Buffett Casts a Wary Eye on Bankers (NYT)
“”Don’t ask the barber whether you need a haircut.” That little nugget was buried in Warren E. Buffett’s annual letter to Berkshire Hathaway shareholders published over the weekend.” – NYT

This Year’s Huge (So Far) M&A Deals And The Lawyers Masterminding Them
(Business Insider)
A slide show of the big deals and the lawyers behind them.

M&A Is Back (Seeking Alpha)
“Merger activity is picking up once again, although the transactions are quite different from most of the deals done in 2005 and 2006″  – Charles Lieberman at Seeking Alpha

IPO Market Vigilantes: Narrowing the Valuation Disconnect (Renaissance Capital LCC)
“While the current period of poor IPO performance may leave buyers feeling burned, history demonstrates that such imbalances are short-lived.” – Renaissance Capital, Greenwich, CT (www.renaissancecapital.com).

DealZone Daily

Friday’s highlights:

Citigroup Inc could pay commercial and investment banking bonuses for 2009 that are similar to 2008 levels, and may cap individual cash payouts at about $60,000, according to people that have been briefed on the plan.

CF Industries Holdings Inc (CF.N) withdraws its year-long hostile bid to buy rival fertilizer maker Terra Industries Inc (TRA.N) on Thursday, bringing a three-way battle for control of the North American fertilizer business closer to a conclusion.

Shiseido Co Ltd, Japan’s largest cosmetics company, agrees to buy U.S.-based Bare Escentuals Inc for $1.7 billion, as it looks to revamp its global brand and expand in North America.

DealZone Daily

For the latest deals news from Reuters, click here. And here’s the top stories from the newspapers (some external links may require subscription):

Italian chocolate maker Ferrero could be interested in Cadbury‘s gum and candy division, a unit worth about 5 billion euros ($7.4 billion), in a possible joint takeover bid, business daily Il Sole 24 Ore said on Friday.

TPG, Blackstone, Warburg Pincus, BC Partners and Advent are among the first-round bidders for discount retailer Matalan, which is being auctioned with an estimated price tag of about 1.5 billion pounds, the FT said.