Deals wrap: Facebook investors look for exits

April 28, 2011

A group of Facebook shareholders is seeking to offload $1 billion worth of shares on the secondary market, a sale that would value the company at more than $70 billion, according to sources. It would represent one of the largest transactions of Facebook shares to date and points to a growing wariness among early-stage investors and employees who fear the social networking service’s growth cannot keep pace with its market valuation.

The sellers have lowered their price after previously trying to offload shares at a price that valued the company at $90 billion, but buyers balked.

Power company Exelon Corp is set to buy rival Constellation Energy Group for $7.9 billion, which will add 1.2 million customers to its existing 5.4 million. The Exelon-Constellation deal is the latest in a series of acquisition in a fragmented U.S. utility industry that faces new costs to upgrade power grids and meet environmental controls.

NYSE Euronext stepped up calls for investors to back an offer worth about $10 billion from Deutsche Boerse as it unveiled strong first-quarter results. The exchange is currently facing an aggressive counterbid from Nasdaq OMX, worth around $1 billion more, which it has repeatedly rejected, but some investors are calling on NYSE to at least talk to its cross-town arch-rival. All eyes are on a NYSE shareholder meeting which began at 8 a.m. EDT.

Tech blog TechCrunch is reporting Apple may have purchased the domain name for $4.5 million from a Swedish company called Xcerion. The company recently changed its name from iCould to CloudMe. The blog said GigaOM also received a similar tip regarding Apple’s possible purchase. TechCrunch comes to its own conclusions as to why they believe this deal may be a possibility.

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