Toronto-Dominion Bank will buy Chrysler Financial from private equity firm Cerberus Capital Management for $6.3 billion. The deal is the latest in a series of foreign asset purchases by Canada’s big banks. For some back of the envelope math on the deal see Fortune.com’s Term Sheet.
Google is in talks with smaller players in the online discount coupon market after Groupon turned down the Web giant’s $6 billion buyout offer, the New York Post said, citing a source close to the situation.
M&A bankers should prepare for a surge. If deal activity follows a similar pattern to previous cycles, 2011 ought to be a considerably better year, writes columnist Jeffrey Goldfarb.
The SEC has begun a probe into Chinese companies listing on U.S. stock exchanges through reverse takeovers, the Wall Street Journal reports, citing people with knowledge of the probe.