In an exclusive interview with Reuters, Yahoo CEO Carol Bartz said the Internet search company has no intention of selling its stake in Chinese e-commerce site Alibaba.
Bartz told Reuters that despite the Alibaba Group “constantly” approaching them to repurchase Yahoo’s estimated 39-percent stake, the company has no plans to accommodate those requests, adding the investment is “very strategic.” *View article*
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Another Chinese company, Sinochem, distanced itself from the possibility of making a bid for Canadian firm Potash Corp, in the wake of BHP Billiton’s $39-million hostile takeover bid for the miner. Han Gensheng, head of Sinochem’s overseas deals, told Chinese magazine Caijing that even a bid of $10 billion would be too large for Sinochem. *View article*
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Some major buyout firms have entered the bidding for mental-health specialist the Priory Group, which seller Royal Bank of Scotland hopes could fetch about $1.55 billion, people familiar with the matter told Reuters. According to Reuters, companies planning to submit non-binding bids before Wednesday’s deadline included Advent International, Blackstone, Bain Capital and Cinven. KKR and the Carlyle Group were also potential bid candidates. *View article*
