DealZone

Deals wrap: AIA shines in Hong Kong

An office worker leaves the AIA central building in Hong Kong's financial district September 21,2010.REUTERS/Tyrone Siu AIA Group surged 17 percent in its Hong Kong debut as investors piled into the record offering. The strong start boosted AIA’s market value above the $35.5 billion Prudential had initially offered for AIA in March, vindicating AIG’s decision not to accept the $30.4 billion bid that followed.

While investors flocked to IPOs of AZ Electronic and the Warsaw bourse, a dose of realism soured Enel’s goal to raise $4.2 billion from its green power unit. Enel dropped the bottom of its price range for Enel Green Power to 1.6 euros from 1.8 euros. “There are plenty of IPOs that seem to be working particularly well, and it is all to do with the willingness of the seller to be realistic,” said a source close to the deal.

Just days before bankers are expected to begin an IPO road show, General Motors buffs up its finances with a repayment to U.S. taxpayers and early payments to pension and retiree health plans. Taking a step back, the WSJ asks if GM is really worth $70 billion.

The NYT looks at how Blackstone Group and the Carlyle Group are reacting to the cheap corporate debt environment and how their views differ on current buyout opportunities.

Deals wrap: Cutting the deal in half

A Wall St. sign is seen outside the New York Stock Exchange, September 30, 2008.  REUTERS/Lucas Jackson Wal-Mart may scale back its bid for Massmart and take a 50 percent stake, rather than a full buyout, Massmart said in a statement. Wal-Mart has been under increasing fire from shareholders to revive its ailing U.S. stores, and some analysts have said it should concentrate on fixing its business at home before spending big on expansion. *View article

Private equity firm Blackstone Group reported a rise in quarterly earnings and said the value of its investment funds grew. *View article

With the U.S. car industry in a slow, fragile recovery from a punishing downturn, auto parts makers are reluctant to pull the trigger on deals, delaying a long-predicted wave of consolidation in the sector, write Soyoung Kim and Deepa Seetharaman. *View article

Deals wrap: Focus on private equity

A sign is pictured on Wall St. near the New York Stock Exchange in New York November 25, 2008. REUTERS/Lucas Jackson Communications cable maker CommScope said it agreed to be bought out by The Carlyle Group in a $3.9 billion deal. It’s the latest sign of a resurgence of acquisitions by private equity firms, which are under pressure to invest billions of dollars of capital raised in the past few years. *View article *View preview of Blackstone and KKR’s results

Green Mountain’s near-monopoly in single-cup brewing, just 4 years after it bought coffee machine maker Keurig, makes it a compelling target for food or consumer products giants seeking entry to a fast-growth part of the U.S. beverages market, writes Mihir Dalal. *View article

Private equity is testing the regulatory waters with a rare bank takeover, reports Bloomberg. *View article

Deals wrap: What’s next for Apple?

Apple Chief Executive Steve Jobs smiles after the Apple's music-themed September media event in San Francisco, California September 1, 2010. REUTERS/Robert GalbraithShares of Sony rose nearly 3 percent at one point on Tuesday, but later retreated as analysts dismissed speculation that the electronics maker could be an acquisition target of Apple. *View article *View WSJ article looking at an Apple tie-up with Netflix

Warren Buffett’s Berkshire Hathaway said hedge fund manager Todd Combs would join the firm, potentially bringing the company a step closer to solving Buffett’s succession puzzle.*View article *View background article on Todd Combs

The NYT’s Andrew Ross Sorkin delves into SEC insider trading laws and how they apply to two rail yard employees facing charges. *View article

Deals wrap: Exchange consolidation

A man is reflected in the sign outside the Australian Securities Exchange (ASX) building in central Sydney August 23, 2010. REUTERS/Daniel Munoz Singapore Exchange has agreed to an $8.3 billion deal for Australia’s ASX. The first major consolidation of Asia-Pacific exchanges faces regulatory hurdles, including getting Australia’s parliament to lift a 15 percent ownership cap on the ASX. *View article *View article on SGX’s CEO *View graphic on world’s top 10 exchanges *View WSJ article

Communications cable maker CommScope said it is in talks with private equity firm The Carlyle Group to sell itself. It is the latest sign of resurgent acquisitions for private equity firms, which are under pressure to invest billions of dollars of capital raised in the past few years. *View article

Wind farm owner and operator First Wind Holdings, which is planning a $300 million IPO this week, may be a risky bet in the current energy climate, write Clare Baldwin and Scott Malone. *View article *View IPOfinancial.com article

Deals wrap: Appeasing Saskatchewan

Rocanville Potash Corp underground production supervisor Dave Esslinger displays a sample of potash 3280 feet below surface at the potash mine in Saskatchewan September 30, 2010. REUTERS/David Stobbe BHP is offering more concessions to Canada’s Saskatchewan province to get a $39 billion deal for Potash Corp approved. “I think it’s wrangling rather than anything more serious. There’s a lot that BHP is willing to do in order to ensure that this deal is a success,” said analyst Charles Kernot at Evolution Securities in London. *View article *View timeline *View scenarios for Potash

“General Electric, Honeywell International and United Technologies are among the suitors for BAE Systems’ aerospace unit that could fetch up to $2 billion for Europe’s top defense group, people familiar with the matter said,” writes Soyoung Kim. *View exclusive *View analysis on defense stocks

Sanofi has received the green light from U.S. antitrust regulators to take-over Genzyme. *View article *View analysis on how  Sanofi could raise bid *View article on Genzyme earnings

Deals wrap: Taiwan’s tough market

A security guard gestures to the photographer to stop taking pictures, inside the Nanshan insurance headquarters building in Taipei October 13, 2009.  REUTERS/Nicky Loh

Three Taiwanese life insurance assets worth $2.5 billion are up for grabs, but a rash of exits by foreign firms and picky regulators could make investors think twice about a deal, write Faith Hung and Denny Thomas. *View article

“With its options running out and time running out, Potash Corp may soon have little choice but to negotiate with BHP Billiton over the $39 billion bid that the world’s largest fertilizer supplier has flatly rejected,” write Euan Rocha and Michael Erman. *View article
*View article on Yara open to buying Potash Corp assets

Andrew Ross Sorkin interviews Felix Rohatyn. The veteran investment banker has “grown uneasy about his own industry and perhaps himself,” writes Sorkin. *View NYT article

Deals wrap: On the road to a GM IPO

A Chevrolet vehicle is seen at a GM dealership in Miami, Florida August 12, 2010. REUTERS/Carlos Barria GM is on track for a mid-November IPO, sources told Reuters. China’s top automaker SAIC has not ruled out taking a stake in the company. *View article *View SAIC article *View WSJ blog which extracts some nuggets from GM’s SEC filing

China’s Sinochem will no longer launch a counterbid for Potash, sources said. “It’s finished,” Reuters was told. *View article

“BAE Systems could be poised for a major buying spree in the U.S. defense sector as Europe’s top defense contractor chases new growth in the face of looming spending cuts,” writes Soyoung Kim and Andrea Shalal-Esa. *View article

Deals wrap: Who’s eying Yahoo?

The headquarters of Yahoo Inc. is pictured in Sunnyvale, California, May 5, 2008. REUTERS/Robert Galbraith Yahoo shares surged after sources said private equity firms have approached News Corp and AOL to gauge interest in a buyout deal. *View article *View WSJ blog asking if a deal would make sense *NYT’s Andrew Ross Sorkin writes: “A deal is not happening anytime soon.”

Is he a loudmouth corporate raider or the investing world’s version of a Las Vegas Elvis? Reuters interviews hedge fund manager William Ackman to find out. *View article *Full coverage PDF

Private equity firms have been reaping huge dividends from companies they own. A WSJ blog asks if the feeding frenzy has gone too far. *View blog

Deals wrap: Standard Chartered’s call for cash

A woman walks down the stairs of the Standard Chartered headquarters in Hong Kong October 13, 2010.    REUTERS/Bobby Yip  Standard Chartered launched a $5.3 billion rights issue to bolster its finances in response to Basel regulations and to take advantage of growth opportunities. The cash is not however a war chest for acquisitions, Chief Executive Peter Sands said. *View article *View analysis on the stringent new rules for banks *View article on other banks following Standard Chartered’s lead

China has the world’s largest IPO market this year and next year could be even busier if the government allows foreign companies to sell shares on its stock markets, an executive at Credit Suisse said. *View article

Matt Rosoff at Business Insider predicts a deal is still coming from Microsoft and Adobe. *View article