DealZone

Deals wrap: BHP shrugs off green fears

BHP Billiton will buy U.S. gas producer Petrohawk Energy for $12.1 billion, ramping up its bets on the booming but environmentally controversial shale gas industry. The FT also takes a look at the deal.

Carl Icahn offered to buy Clorox in a $10.2 billion deal, but also invited the household products maker to solicit rival bids, which he said would yield much higher offers for the company.

They were just a few brief comments at an investor conference but they were enough to set the health insurance industry abuzz: Could Aetna buy Cigna?

Almost every company eventually dies. With that in mind The Big Picture asks if Facebook has missed its IPO window.

PEHub finds out what the mob can teach you about the startup industry.

Some execs are looking for an iPad to be included in their golden handshake. Daily Ticker gets the scoop on company perks.

Deals wrap: Splitting up ConocoPhillips

Integrated energy company ConocoPhillips said it would split its businesses into two stand-alone, publicly traded corporations by spinning off its refining and marketing business.

Borders Group’s buyout deal with private equity firm Najafi Companies collapsed, raising the possibility that the bankrupt bookseller could be forced to liquidate its remaining stores and go out of business.

L-3 Communications, which faces breakup pressure from an activist investor, is expected to divest some low-end services assets but does not plan a broader portfolio restructuring such as a breakup, people familiar with the situation said.

Deals wrap: Streamlining HP

If private equity firms had their way, Hewlett-Packard would look less like a monolithic tanker and more like a small fleet of streamlined schooners, reports Nadia Damouni and Poornima Gupta.

Borse Dubai owns nearly 21 percent of LSE stock and the Qataris hold 15.1 percent, Thomson Reuters data shows, making the investors easily the largest shareholders in the London exchange and key decision-makers in its future.

BYD, the Chinese automaker backed by U.S. billionaire Warren Buffett surged more than 40 percent on its Shenzhen debut, as investors bet on a strong outlook for the company’s fledgling electric cars business.

Deals wrap: Investing in Kraft

Billionaire investor Nelson Peltz bought 12.2 million shares in Kraft Foods during the first quarter, his investment firm reported this week.

“Morgan Stanley, Bank of America Merrill Lynch, J.P. Morgan and UBS were among bankers leading LinkedIn’s massively hyped — perhaps overhyped — IPO last month. And today — surprise!!! — all four banks told investors to buy, buy buy LinkedIn stock,” reports the NYT’s DealBook.

Bernard L. Madoff, the convicted fraudster, doesn’t think he deserved a 150-year sentence, the NYT reports.

Deals wrap: Dodgers strike out

The Los Angeles Dodgers filed for bankruptcy protection, blaming Major League Baseball for refusing to approve a television deal with News Corp’s Fox Network to give the financially strapped baseball team a quick injection of cash.

The WSJ’s DealBook reports the best part of the filing is who the Dodgers owe money to. Manny Ramirez is owed $21 million.

London Stock Exchange boss Xavier Rolet faces a crucial test this week as TMX Group owners vote on their planned merger with the LSE – a deal on a knife-edge that is likely to define his tenure.

Deals wrap: M&A pace set to slow

M&A deals declined in the second quarter from the previous three months, casting gloom on hopes of a reviving world economy that will prompt executives to put their cash-rich balance sheets to work. Get full coverage on the state of M&A here.

China Everbright Bank has delayed meetings with investors to promote its planned $6 billion Hong Kong share listing, three sources with direct knowledge of the deal said, underscoring shaky sentiment in global markets and weak IPO performances in Asia.

At the Rebuilding Japan Summit, three veteran M&A advisers provide insight into corporate consolidation in Japan and what role this may play in the wake of the March 11 disaster.

Deals wrap: Battling for TMX

The London Stock Exchange faces a nail-biting fight for Canadian peer TMX Group after aggressive rival bidder Maple trumped its sweetened offer by a whisker overnight. Proxy advisory firm ISS recommends TMX shareholders back the LSE offer.

Hulu has defied early skeptics that old-school media companies could collaborate to create a successful service for a new generation of TV watchers. But joint ventures have a knack for degenerating and an unsolicited approach for Hulu creates a perfect opportunity to find it a better home, writes Breakingviews columnist Jeffrey Goldfarb.

“Hulu LLC may cost potential buyers from Yahoo! Inc. to Amazon.com Inc. as much as 50 times earnings for a chance at owning what may be the next Netflix Inc,” reports Bloomberg.

Deals wrap: VCs think IPO activity low

More than 80 percent of venture capitalists believe the initial public offering market is at very weak levels and it is curbing profits, according to a new survey.

Online video site Hulu has been approached by a potential buyer and is weighing whether to sell itself, according to a person familiar with the matter. GigaOM lists the possible candidates and the merits of a deal for each company.

Taiwan regulators rejected Kohlberg Kravis Roberts & Co’s $1.6 billion joint management buyout of electronics component maker Yageo Corp, a decision that may cast a shadow over other private equity involvement in the island.

Deals wrap: SABMiller ready for another round?

SAB Miller said it would keep talking to Foster’s Group after Australia’s largest brewer rejected the global giant’s $10.1 billion cash takeover offer as too low.

Research In Motion has lost so much value that an acquirer could pay a 50 percent premium and still buy the BlackBerry maker for a lower multiple than any company in the industry, Bloomberg reports.

Rather than moan about Groupon’s inability to say anything in the quiet period, CEO Andrew Mason should enjoy it while it lasts, writes Felix Salmon.

Deals wrap: RBC offloads U.S. assets

PNC Financial Services Group will buy Royal Bank of Canada’s U.S. retail bank operations for $3.45 billion in cash and stock, making it the fifth largest bank in the United States. The WSJ gets some early reaction to the deal.

ING said it has put its car leasing business up for sale, in a deal Dutch media reported may be worth $5.7 billion.

Japan’s industrial, healthcare and technology sectors are the main focus for the Carlyle Group, the co-head of its Japanese unit told the Reuters Rebuilding Japan Summit in Tokyo on Monday.