Unstructured Finance

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.

Rio Tinto, Xstrata, Nyrstar and Noble Group in the past week have announced plans to merge or expand output or capacity — risky bets if famed market bear Nouriel Roubini’s dire warnings about China come to pass.

The rash of accounting scandals at Chinese companies could spell defeat for investment banks in Hong Kong in their long-running battle to avoid being made liable for the prospectuses of IPOs they sponsor.

Deals wrap: Capital One to buy ING’s U.S. online bank

Capital One plans to buy ING’s U.S. online bank for $9 billion in cash and stock, freeing the Dutch bank to repay bailout funds and sever its state ties.

Italian fashion house Prada floated at the low end of its target price range on Friday, raising $2.1 billion as investors baulked at its rich valuation while global markets are weak.

Private equity firm Leonard Green & Partners said it has teamed up with CVC Capital Partners to submit a proposal to buy BJ’s Wholesale Club, the third-largest U.S. wholesale club retailer.

Deals wrap: Cooling off on IPOs

Samsonite, the world’s biggest luggage maker, dropped 7.7 percent in its Hong Kong trading debut on Thursday, underscoring tepid investor appetite for initial public offerings as global markets struggle.

Pipeline operator Energy Transfer will buy smaller rival Southern Union for about $4.11 billion to bolster its natural gas gathering and transportation capacity amid burgeoning production from U.S. shale fields.

Alibaba Group said it has reorganized Taobao, China’s largest e-commerce website, into three separate companies, squashing any chance of a Taobao public offering.

Bankex falls ahead of RBI policy review

Banking shares fell on Wednesday ahead of the RBI’s policy review, with the sectoral index falling 1.6 percent.

Axis Bank shares fell 2.7 percent and ended as the top loser in the index, followed by SBI which dropped 2.3 percent.

Do you think it is the right time to buy banking stocks?

Deals wrap: On to the next tech IPO

Online radio company Pandora Media priced shares in its initial public offering above an already raised range on Tuesday, the latest company to take advantage of red-hot valuations for Internet companies. Deal Journal breaks down the company by the numbers.

DST Systems  has received several buyout overtures from private equity firms in recent months, including one led by activist investor Russell Glass, according to people with knowledge of the situation.

To get General Motors firing on all cylinders, Chief Executive Daniel Akerson needs to fix the sputtering Opel. However, neither a sale nor a quick fix to return to sustained profitable growth is easily achievable, analysts and experts say.

Tata Motors shares fall nearly 3 pct

Shares in Tata Motors ended down 2.84 percent on Tuesday and closed at 984 rupees.

UBS downgraded the stock to “sell” from “buy” and cut the price target to 920 rupees from 1,360 rupees on fears of constricted growth and margins.

The stock also ended as the top Sensex and BSE Auto index loser.

Do you think it is time to invest in this stock?

Deals wrap: Ericsson to buy Telcordia

Mobile network equipment maker Ericsson said it would spend $1.15 billion in cash to buy U.S. group Telcordia to boost its presence in the operations and business support sector.

KKR’s planned $1.6 billion buyout of Taiwan electronics components maker Yageo came under a cloud after a source with direct knowledge of the matter said the island’s financial regulator expressed concern over minority shareholders’ rights.

Mid-sized lender China Everbright Bank  plans to raise about $6 billion in a Hong Kong initial public offering, Asia’s biggest so far this year, braving choppy equity markets that have dampened demand for new issuances.

Deals wrap: Timberland shares jump

VF Corp, owner of clothing brands such as The North Face and Wrangler jeans, said it would buy Timberland for $2 billion. The deal values the shoemaker at $43 a share, a 43 percent premium to Friday’s closing price of $29.99 on the New York Stock Exchange.

For many potential investors Russia is synonymous with corruption, weak rule of law and political risk, its reputation hurt by events such as the jailing of oil tycoon Mikhail Khodorkovsky. Vladimir Putin is trying to turn that image around by telling investors to invest in Russia, and have Russia invest in you.

Maple Group launched a $3.8 billion hostile bid for Toronto Stock Exchange operator TMX Group, an all-Canadian challenge to the London Stock Exchange’s agreed bid.

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