Unstructured Finance

Deals wrap: Ramping up to GM’s IPO

November 16, 2010

A worker cleans the front grill of a Chevy HHR at a General Motors dealership in Montreal, June 1, 2009. Reuters/Christinne Muschi 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.

Deals wrap: BHP Billiton’s CEO confronts shareholders

November 11, 2010

A man walks past the head office of BHP Billiton in central Melbourne October 18, 2010.  REUTERS/Mick Tsikas BHP Billiton’s boss is likely to face calls next week for a massive share buyback when he faces shareholders in Australia after his third straight failure to pull off a major acquisition.

Deals wrap: Potash Corp repercussions

November 5, 2010

The Cory Potash Corp mine site west of Saskatoon is pictured on November 3, 1010.   REUTERS/David StobbeAustralia’s farm sector would have too much of an advantage if BHP Billiton was allowed to buy Potash Corp, argued Canada’s farm minister. While Canada’s decision to block the deal stunned many, most Potash Corp investors seem unperturbed, eying its long-term growth prospects.

Deals wrap: BHP blocked

November 4, 2010

A man walks past the head office of BHP Billiton in central Melbourne October 18, 2010.  REUTERS/Mick Tsikas By blocking BHP Billiton’s $39 billion bid for Potash Corp, Canada reveals it’s not entirely “open for business.” Like many countries, it has become more wary about allowing foreign investors to gain control of companies that hold strategic resources. Reuters takes a look at BHP’s tenacious CEO, what’s next for the company and if other Canada-Australia deals can expect some backlash.

Deals wrap: Weighting the benefits of a Potash deal

November 2, 2010

A reporter looks at a sample of still warm potash at the Rocanville Potash Corp mill in Saskatchewan September 30, 2010. REUTERS/David Stobbe Canada insisted it had made no decision yet on what to do about BHP Billiton’s $39 billion offer to buy Potash Corp, even as two newspapers reported that bureaucrats were advising that the bid should go ahead. A decision by the Canadian government is due by the end of Wednesday.

Deals wrap: Focus on private equity

October 27, 2010

A sign is pictured on Wall St. near the New York Stock Exchange in New York November 25, 2008. REUTERS/Lucas Jackson Communications cable maker CommScope said it agreed to be bought out by The Carlyle Group in a $3.9 billion deal. It’s the latest sign of a resurgence of acquisitions by private equity firms, which are under pressure to invest billions of dollars of capital raised in the past few years. *View article *View preview of Blackstone and KKR’s results

Deals wrap: Appeasing Saskatchewan

October 20, 2010

Rocanville Potash Corp underground production supervisor Dave Esslinger displays a sample of potash 3280 feet below surface at the potash mine in Saskatchewan September 30, 2010. REUTERS/David Stobbe BHP is offering more concessions to Canada’s Saskatchewan province to get a $39 billion deal for Potash Corp approved. “I think it’s wrangling rather than anything more serious. There’s a lot that BHP is willing to do in order to ensure that this deal is a success,” said analyst Charles Kernot at Evolution Securities in London. *View article *View timeline *View scenarios for Potash

Deals wrap: Power merger

October 18, 2010

A sign is pictured on Wall St. near the New York Stock Exchange in New York November 25, 2008. REUTERS/Lucas Jackson Northeast Utilities will buy peer NSTAR in a $4.17 billion all-stock deal to create one of the largest U.S. utilities. *View article

Deals wrap: Sinochem keeps an eye on Potash deal

September 22, 2010

Pedestrians walk past the head office of BHP Billiton in central Melbourne September 22, 2010. REUTERS/Mick Tsikas As regulators mull over BHP Billiton’s bid for Potash, China’s Sinochem has hired banks to advise it on how to foil the deal, two sources told Reuters. *View article *View article on the politics of the deal

Deals wrap: Waiting on the regulators

September 21, 2010

A front loader filled with potash is seen in Colonsay, Saskatchewan September 24, 2009.  REUTERS/David Stobbe BHP Billiton’s $39 billion battle to take control of Potash is expected to drag on into next year after it failed to win immediate backing from Canadian authorities.