Unstructured Finance

Deals wrap: Walgreen prescribes drugstore.com buy

March 24, 2011

A sign for a Walgreens store is seen in Belle Glade, Florida January 6, 2010. REUTERS/Carlos BarriaWalgreen plans to buy drugstore.com for $429 million, expanding the online presence of the world’s largest drugstore chain.  Drugstore.com shareholders will receive $3.80 a share, which is more than double the company’s closing stock price on Wednesday.

Cheyne hedge fund spots RBS opportunity

September 21, 2010

M&A is on the up again and hedge funds are getting ready – last week we revealed Cheyne Capital had raised over $100 mln for an event-driven fund.

Deals wrap: Yahoo not selling Alibaba stake

September 15, 2010

In an exclusive interview with Reuters, Yahoo CEO Carol Bartz said the Internet search company has no intention of selling its stake in Chinese e-commerce site Alibaba.

DealZone Daily

March 22, 2010

Royal Dutch Shell and PetroChina have secured Arrow Energy’s coal-seam gas assets for $3.1 bln after sweetening their offers for the business.  The fresh bid was pitched at a 35 percent premium to Arrow’s share price before the first offer was announced, highlighting burgeoning interest in the coal-seam gas industry.

How cutting prop desks hits M&A

February 1, 2010

A wee while ago, DealZone posited that bonus-hungry bankers who had gravitated to bank prop desks might return to the once-glorified M&A desks after the Obama administration targeted banks’ proprietary trading as a business too risky for banks. A logical argument, but one that ignored an aspect of the M&A game that is becoming starkly obvious: deals putting trading operations into banks are clearly at risk.

Virgin acquires banking licence

January 8, 2010

Sir Richard Branson boosted his attempt to become a leading player in the UK banking sector by agreeing to buy Church House Trust, a small regional private lender. The deal effectively gives Virgin Money a banking licence, allowing it to offer a full range of products to consumers, since the proposed purchase has already been approved by the Financial Services Authority (FSA).

DealZone Daily

December 23, 2009

Wednesday’s highlights:

Ford Motor Co (F.N) and China’s Geely are set to report progress as soon as Wednesday in talks to sell Ford’s Volvo unit to the Chinese automaker, two people with direct knowledge of the matter say.

Morning Line-Up

December 23, 2009

RTXCG5SEnlightening stories on the hedge fund industry from Reuters and elsewhere.

Rajaratnam objects to scheduling of Galleon cases – Reuters

Top hedge funds bet on big yields rise – FT

Investors said to bet on Citadel once more – New York Times dealbook

Massive bet on Lloyds and RBS helped Tepper earn 2.5 bln – Guardian

DealZone Daily

December 21, 2009

“Saab story ends” we wrote on these pages last week. Now it has begun again, after Dutch luxury carmaker Spyker raised a last-minute bid over the weekend. It looks as if there are other options, with General Motors saying it will look into several new expressions of interest for its Swedish unit. That’s only two days after it said it would start an orderly wind-down.

UBS and the UK banks shake-up

November 3, 2009

Some cheering news on an otherwise tough day for UBS – the Swiss bank has bagged key roles for both Lloyds and RBS, as the two British banks agree to a massive shake-up that involves taking 31 billion pounds more of government money. As Victoria Howley and Daisy Ku wrote earlier: