DealZone

Express Scripts will buy rival Medco Health Solutions for $29.1 billion in cash and stock to create a powerhouse in managing prescription drug benefits in the United States, the companies said on Thursday. The WSJ live blogged the companies’ conference call on the merger.

Two Chinese Internet firms have postponed their U.S. fundraising plans due to volatile global markets and after a series of accounting scandals tarnished the reputation of overseas-listed Chinese companies.

Shares of real estate site Zillow skyrocketed in their market debut on Wednesday, the latest to ride a wave of dotcom exuberance while stoking fears of lofty Internet valuations.

AT&T’s second-quarter revenue beat Wall Street expectations but the strong results could be overshadowed by growing opposition to AT&T’s controversial plan to buy T-Mobile USA. The WSJ asks readers if the  merger is good for consumers and the Free Press has created some satirical videos on the topic.

The healthcare industry is poised for a robust year of dealmaking in 2011 as a wider variety of players from scientific tool makers to hospital companies looks for new growth.

With many buyout firms fighting for survival and others hard-up for fresh funds, there’s an opportunity for investors to reform the private equity model in their favor. They shouldn’t squander it, writes columnist Jeffrey Goldfarb.

For private equity to be successful abroad it will need to leave behind many of its established profit models, writes Steven M. Davidoff in the NYT.

China’s top offshore oil company CNOOC has made a joint $5 billion bid with Ghana National Petroleum Corp for Kosmos Energy’s assets, a source close to the deal told Reuters. Kosmos is prized for its stake in Jubilee, one of the largest oil discoveries in the world in recent years.

Previously a $4 billion bid by Exxon Mobile for Kosmos failed because it was unable to secure Ghanaian government support. GNPC sources have told Reuters since last year that it had been talking to CNOOC about a possible bid. *View article

FT’s Alphaville blog breaks down the ramifications of Barclays losing its court battle with Lehman Brothers over its purchase of Lehman’s brokerage unit in bankruptcy proceedings in 2008. A loss could cost Barclays as much as $10 billion. *View article