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Mergers and Acquisitions Acquisitions

  • TOKYO, July 18- Western Digital Corp's top executive is in Japan to meet government officials, aiming to resolve a dispute with Toshiba Corp over the Japanese company's planned sale of its chip business, sources familiar with the matter said on Tuesday. Toshiba and joint venture partner Western Digital are at loggerheads over the sale of the chip unit- the...

  • *Flipkart ups Snapdeal offer by $100 mln to $900 mln- $950 mln. MUMBAI, July 18- Indian e-commerce firm Flipkart's sweetened takeover offer of up to $950 million for Snapdeal has improved the chances of a deal between the two rivals, though some sticking points are still being hashed out, two sources familiar with the matter said. Leading homegrown online retailer...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • TOKYO, July 18- Toshiba Corp shares jumped by nearly a fifth on Tuesday after a U.S. hedge fund said it had added a stake and the Japanese conglomerate avoided an immediate court injunction on a planned $18 billion sale of its chip business. U.S. hedge fund Greenlight Capital, run by David Einhorn, said on Friday the stock may be worth as much as 400 yen once the company...

  • TOKYO, July 18- Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family's petition to block the offering, potentially clearing the way for a takeover of Showa Shell Sekiyu. The family has lodged an appeal with the Tokyo High Court, their lawyer said, calling the ruling "unjust". But it also recognises the...

  • July 18- U.S.-based Prudential Financial Inc has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday. Prudential's Pruco Life Insurance Company unit has acquired a 49 percent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia- based CT Corp, the...

  • July 18- U.S.-based Prudential Financial Inc has entered the Indonesian life insurance market in a joint venture with a unit of CT Corp in Jakarta, the companies said on Tuesday. Prudential's Pruco Life Insurance Company unit has acquired a 49 percent stake in PT Asuransi Jiwa Mega Indonesia, the life insurance subsidiary of Indonesia- based CT Corp, the...

  • *Idemitsu plans to issue $1.1 billion in new shares. TOKYO, July 18- Idemitsu Kosan Co said it would proceed with a $1.1 billion sale of new shares, after a court rejected the founding family's petition to block the stock offering, potentially clearing the way for a takeover of Showa Shell Sekiyu. The family has lodged an appeal with the Tokyo High Court, their lawyer...

  • July 14- Hedge fund Greenlight Capital said on Friday that it had added a stake in Toshiba Corp as it expects the stock to rise once the Japanese company resolves uncertainties around its bankrupt Westinghouse unit and the sale of its memory business. The Japanese conglomerate, whose stock closed at 231.6 yen per share on Friday, may be worth as much as 400 yen per...

  • Wells Fargo said its profit edged higher in the second quarter as the bank got a boost from rising interest rates and the planned sale of its insurance service business. The Federal Reserve has raised interest rates three times since December, which lets banks charge more money for lending, and Wells Fargo said its net interest income climbed 6 percent to $12.5...

  • SAO PAULO, July 14- Neoenergia SA, whose takeover of a smaller rival will turn it into Brazil's No. 1 power utility by customers served, is working on a dual initial public offering in São Paulo and New York that could value it at up to 35 billion reais, three people with direct knowledge of the plan said. The IPO could be launched around September, when the people expect...

  • LISBON, Portugal— Telecoms company Altice is buying control of Portugal's Media Capital, paying Spain's Prisa 440 million euros for its 94.7 percent stake in the Lisbon company. Netherlands- based Altice N.V. said in a statement Friday it had reached "a definitive agreement" with Promotora de Informaciones, S.A to buy its stake in Media Capital SGPS, SA.

  • SINGAPORE/ HONG KONG July 14- A leading Chinese private equity consortium backed by senior executives from Global Logistic Properties won a bid to acquire GLP for S $16 billion, marking Asia's largest private equity buyout in a buoyant sector. GLP, which is Asia's biggest warehouse operator and boasts a $41 billion portfolio of assets spread across China, Japan,...

  • *Group offers S $3.38/ shr cash, 25 pct premium over last price. SINGAPORE, July 14- Global Logistic Properties agreed to be acquired by a Chinese private equity consortium backed by senior GLP executives for about S $16 billion, choosing it over a rival bid in Asia's largest private equity buyout. The winning group of China's Hopu Investment Management, Hillhouse...

  • SAO PAULO, July 14- Neoenergia SA, whose takeover of a smaller rival will turn it into Brazil's No. 1 power utility by customers served, is working on a dual initial public offering in São Paulo and New York that could value it at 35 billion reais, three people with direct knowledge of the plan said. The IPO could be launched around September, when the people expect...

  • Former Chicago Alderman Edwin Eisendrath and the group of investors beat out Tronc Inc, which owns the Chicago Tribune as well as other U.S. newspapers. Terms of the deal between ST Acquisition Holdings and Sun-Times parent Wrapports LLC were not disclosed. The group is comprised of corporate restructuring expert William Brandt, the Chicago Federation of...

  • An investment group that includes Chicago- area unions says the newly-acquired Chicago Sun-Times will operate independently. ST Acquisition Holdings LLC, which includes a former Chicago alderman, has acquired the Sun-Times, the Chicago Reader, a website and production studio. A message for Chicago- based Wrapports LLC, which owned the Sun-Times, wasn't...

  • LONDON, July 13- Rupert Murdoch is unlikely to offer any new concessions to protect the editorial independence of Sky, increasing the chance that the $15 billion takeover deal goes to a lengthy investigation, a person familiar with the situation said. Murdoch's Twenty-First Century Fox was dealt a blow last month when Britain's media secretary, Karen Bradley,...

  • CHICAGO— An investment group led by a former Chicago alderman and a coalition of labor unions are the new owners of the Chicago Sun-Times, officials announced Thursday in an unusual deal that revived questions about media ownership and influence over coverage. "We believe in protecting the institution of journalism itself as well amplifying the diversity of...

  • FRANKFURT, July 13- Several German companies in talks with potential buyers from China are pushing ahead with negotiations undeterred by Germany's new takeover code, people close to the matter said. Germany has become the first European Union country to tighten its rules on foreign corporate takeovers following a series of Chinese deals giving access to...