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: Caterpillar bets on mining

November 15, 2010

The Caterpillar logo is seen on a tractor in Gilbert, Arizona October 20, 2009. REUTERS/Joshua Lott Caterpillar plans to buy Bucyrus International for $7.6 billion. The deal would create a global supplier of trucks, hydraulic shovels, blasting drills and coal-mining equipment and mark a step-up in acquisitions by Caterpillar under its new chief executive, Doug Oberhelman.

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: Eying the GM IPO

November 3, 2010

A worker cleans the front grill of a Chevy HHR at a General Motors dealership in Montreal, June 1, 2009.   Reuters/Christinne Muschi Top Chinese automaker SAIC Motor Corp is close to making a decision on whether to buy a stake in its long-time partner General Motors, sources told Reuters. The WSJ reports General Motors will not have to pay U.S. federal taxes on up to $50 billion of profits for as long as 20 years. *View WSJ’s timeline on GM

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: Cracking down on hostile bids

October 21, 2010

Demonstrators protest near Britain's Houses of Parliament in central London February 2, 2010.   REUTERS/Toby Melville “Britain’s takeover watchdog has unveiled proposals to make hostile bids harder but stopped short of endorsing the most radical proposals floated following the controversial takeover of Cadbury by Kraft Foods,” writes Quentin Webb. *View article

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: Taiwan’s tough market

October 19, 2010

A security guard gestures to the photographer to stop taking pictures, inside the Nanshan insurance headquarters building in Taipei October 13, 2009.  REUTERS/Nicky Loh

Three Taiwanese life insurance assets worth $2.5 billion are up for grabs, but a rash of exits by foreign firms and picky regulators could make investors think twice about a deal, write Faith Hung and Denny Thomas. *View article