It’s also worth noting that the deal has a tiered break-up fee, which is only 1.7 percent ($85 million) of the deal price for the next 50 days, before jumping to $190 million.
Alcoa kicks off earnings Monday. It always pleases me that AA starts earnings season, because it is a pretty simple story. also: Big week for IPOs. There are several interesting companies looking to go public next week:
Three seminal issues have driven the recovery of the past two years: Government rescue money, bank stress tests, and exceptionally low interest rates - all products of government intervention.
Many corporate executives and investors believe that the policies of the current administration...
The U.S. and Russia orchestrated the largest spy swap since the Cold War, exchanging 10 spies arrested in the U.S. for four convicted in Russia in a tightly choreographed diplomatic dance Friday at Vienna's airport.
There have been reports this morning that the SEC is considering the promulgation of new rules for stock trading. Here's what my sources are telling me...
Greece has passed major changes in its pension system, raising the retirement age to 65 and cutting benefits. There will be a debt issuance next week. Spain will also allow savings banks to be be be bought by private investors, including outsiders.
It remains unclear how the assets on European banks’ balance sheets will be marked down under various stresses. So, will there be a need for significant capital at European banks and if the stress tests are deemed worthy, will that allow those banks to raise the necessary capital?
In their own 'Private Idaho', the media moguls gathered here in Sun Valley attending the Allen & Co conference are on their own discovery and having plenty to say about the economy and government regulation and what it all means for the future of their industry.
Plus, get the Treasury secretary's thoughts on derivatives, the economy, Fannie and Freddie and more.
Warren Buffett says Tony Hayward should not continue as BP's CEO, so that the American people can "feel better" about the company's response to its massive oil spill in the Gulf of Mexico. In a videtaped interview with Willow Bay for the Huffington Post and Yahoo News, Buffett says it is not in the interest of either BP or the nation for Hayward to keep his job.
June retail sales report: better than most expected, but not a game changer. Numbers were good for the most part, but not enough to change anyone's opinion. The back half remains murky due to the macro data, which right now does not support a robust recovery.
Taxes on US businesses are about average compared to those in the rest of the world, Treasury Secretary Tim Geithner told CNBC Wednesday.
Family Dollar's conservative guidance: is this what Q3 guidance will look like? All the discount retailers are flat to down today as Family Dollar (FDO) provided guidance for the current quarter (Q4) that is below Street consensus ($0.46 to $0.51 vs. Street estimates of $0.53). The conference call, mostly with CFO Ken Smith, was very instructive...
The CEO, Jim McNerney, stressed this needs to be "measurable" quarter-by-quarter and industry and company specific. As far as an up cycle in the market, he said, "that will take a little longer."
Bill Fleckenstein of Fleckenstein Capital thinks tech names will soon pick-up, so how's he playing it?
The government should extend the Bush tax cuts to put money to work and help share prices, Dennis Gartman, founder of The Gartman Letter, told CNBC Wednesday.
This whole debate about government stimulus versus austerity, and the impact of these policies on economic growth, misses a key point: It is business, not government, that creates jobs.
While everyone is watching the IPO of Agricultural Bank of China tonight, another fairly large IPO is set to price in the US this week...at the midpoint it'd bring in about $600 million. That would be the the biggest US IPO of the year.
The first stage of President Barack Obama's health care overhaul is expected to provide coverage to about 1 million uninsured Americans by next year. That's a small share of the uninsured, but in a shaky economy, experts say it's notable.