Deals wrap: Ramping up to GM’s IPO
General Motors has increased the preferred stock on offer by 25 percent and raised the price for common stock in its landmark IPO, bringing the U.S. government closer to break-even on a still-controversial bailout of the automaker. NYT’s Andrew Ross Sorkin looks into who should get the credit for GM’s IPO and Dow Jones Newswires cautions investors with a look back to Blackstone’s IPO.
BHP Billiton is still interested in big acquisitions and does not regret spending $875 million pursuing three major deals that collapsed in the past two years, its chairman said.
If two’s a trend, expect more management/private equity buyouts of U.S.-listed Chinese companies — taking advantage of big discounts to peers on the Hong Kong and Chinese stock markets.