Unstructured Finance

Deals wrap: Nokia rumors but no suitors

June 9, 2011

Nokia’s plunging share price and persistent speculation it might be a takeover target is far from attracting real suitors interested in saving the struggling mobile phone company, write Victoria Howley and Tarmo Virki.

Deals wrap: Bid for ING Direct USA

June 7, 2011

General Electric and Capital One have submitted bids for ING’s U.S. online banking operations in a deal worth about $9 billion, Bloomberg reports.

Deals wrap: LinkedIn boosts IPO, pushes more air into bubble

May 17, 2011

LinkedIn, the social networking site for professionals, boosted the pricing of its initial public offering by 30 percent valuing the 9-year old company at a little over $4 billion, or about 17 times their 2010 revenue.

Deals wrap: Nasdaq, ICE drop NYSE bid

May 16, 2011

Nasdaq OMX and IntercontinentalExchange (ICE) dropped their $11.1 billion bid for rival exchange NYSE Euronext after it became clear the deal would not gain approval from U.S. antitrust regulators. The companies first offered to buy the New York Stock Exchange parent on April 1, aiming to curb a proposed friendly merger with Deutsche Boerse that was worth $10.2 billion when first announced in February. Deutsche Boerse responded to the news of the dropped bid by saying it plans to continue to pursue a merger with the Big Board parent.

Deals wrap: The value of Groupon

April 15, 2011

An online coupon sent via email from Groupon is pictured on a laptop screen November 29, 2010 in Los Angeles. REUTERS/Fred Prouser Groupon is likely to pick Goldman Sachs and Morgan Stanley to lead a second-half initial public offering that could value the fast-growing daily deals site at $15 billion to $20 billion, according to a source.

Deals wrap: Glencore’s $12.1 billion IPO

April 14, 2011

GLENCORE/Glencore is looking to raise up to $12.1 billion for its initial public offering in a duel listing that will boost firepower for deals at the height of the resource boom. The long-awaited details of the offer, set to be the largest ever in London, were outlined in an intention-to-float that confirmed an earlier Reuters story. However, the company did not name a new non-executive chairman, a requirement for its listing.

Deals wrap: Schneider fails to quash Tyco buyout rumors

April 13, 2011

Schneider Electric HQSchneider Electric issued a statement denying it had planned to buy U.S. conglomerate Tyco International, but this did little to kill the buyout talks as a source with knowledge of the matter said the French engineering group held earlier talks with Tyco.  Shares of Schneider initially rose more than 2 percent after the denial but dropped after analysts made comments speculating a tie-up may be coming soon, and is expected to weigh on shares in the long term.

Deals wrap: BP’s Rosneft deal on the rocks?

April 12, 2011

BP/The planned $18 billion deal between BP and Rosneft was left even more uncertain after its chief backer Igor Sechin stepped down as Rosneft’s chairman. Sechin, who is also Russia’s deputy prime minster quit after President Dmitry Medvedev ordered the removal of ministers from the board of state companies. BP’s tie-up with Rosneft is already blocked by a court injunction secured by the company’s Russian partners in its TNK-BP venture.

Deals wrap: Powering up China’s IPO market

January 4, 2011

A power-generating wind turbine is seen in a wind farm of Alpiq in Le Peuchapatte in the Jura region, western Switzerland October 7, 2010. REUTERS/Michael Buholzer Sinovel, China’s top wind turbine producer, plans to raise up to $1.4 billion in one of the most expensive main board IPOs in Shanghai. The listing may well be a test for China’s IPO market, which had a mixed performance late last year.

Deals wrap: Cutting assets to pay for slick

July 12, 2010

BP CEO Tony Hayward testifies about the BP oil spill in the Gulf of Mexico at the House Energy and Commerce Committee on Capitol Hill in Washington, June 17, 2010.  REUTERS/Larry DowningBP is looking to sell assets to help pay for the oil spill in the Gulf of Mexico. A source says BP is in talks with U.S. oil and gas company Apache Corp. The Sunday Times reported that the talks involved $12 billion in assets. View article