Mergers and Acquisitions
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CNBC's Tyler Mathisen looks ahead to what are likely to be next week's top business and financial stories. Earnings season kicks into high gear with Alcoa, and financials Wells Fargo and JPMorganChase report on Friday. And AirBus is coming to Mobile, AL.
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Nov 16- Allergan Inc, maker of anti-wrinkle drug Botox, on Friday said it would pay $350 million to acquire privately held SkinMedica Inc and its array of topical products to improve the appearance of the skin.
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*Lafarge to get around 160 mln eur from disposals. PARIS/ LONDON, Nov 16- Cement maker Lafarge and miner Anglo American have agreed to sell British assets for up to 285 million pounds, clearing the way for a building materials joint venture in the country.
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NEW DELHI, Nov 16- Indian authorities are investigating claims that Wal-Mart Stores Inc. violated foreign exchange rules when it invested $100 million in a domestic unit owned by its wholesale joint-venture partner, a law enforcement official said. Wal-Mart, the world's largest retailer, has denied any wrongdoing.
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*Overseas Union- led consortium launches S $13.1 bln counter-bid. SINGAPORE, Nov 16- A group led by Singapore property firm Overseas Union Enterprise Ltd launched a S $13.1 billion bid for Fraser and Neave Ltd, challenging a takeover offer for the conglomerate from Thailand's third-richest man.
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*Overseas Union- led consortium launches S $13.1 bln counter-bid. SINGAPORE, Nov 16- A consortium led by Overseas Union Enterprise Ltd launched a S $13.1 billion bid for Fraser and Neave Ltd, challenging a takeover offer from Thailand's third-richest man for the Singapore conglomerate.
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*OUE group offers S $9.08 a share vs Thai offer of S $8.88. SINGAPORE, Nov 15- A consortium led by Overseas Union Enterprise Ltd launched a S $13.1 billion bid for Fraser and Neave Ltd, trumping a takeover offer from Thailand's third-richest man for the Singapore conglomerate.
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Nov 15- A U.S. congressional panel suggested on Thursday that the Securities and Exchange Commission and Commodity Futures Trading Commission merge, saying their failure to share information contributed to the collapse of futures brokerage MF Global.
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SINGAPORE, Nov 15- A hotel and property firm controlled by Indonesia's Lippo Group launched a S $13.1 billion bid for Fraser and Neave Ltd, trumping a takeover offer from Thailand's third-richest man for the Singapore conglomerate. OUE is controlled by Indonesia's Riady family through the Lippo Group.
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FRANKFURT, Nov 15- Several top steelmakers are sitting out ThyssenKrupp's auction of its U.S. and Brazilian mills and there appears little interest in the latter, suggesting the German firm may fall well short of its $9 billion asking price.
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*Glencore offers to sell Xstrata's German smelter to win EU approval. LONDON, Nov 15- Commodity trader Glencore's $32 billion takeover of Swiss miner Xstrata looked set to go ahead after winning the backing of Qatar Holdings, the bid target's second-largest shareholder.
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*GrainCorp says $2.8 billion offer undervalues company. SYDNEY, Nov 15- Australia's GrainCorp knocked back a $2.8 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued the grains handler after a bumper harvest delivered a record annual net profit.
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*GrainCorp says $2.8 billion offer undervalues company. SYDNEY, Nov 15- Australia's GrainCorp knocked back a $2.8 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued the grains handler after a bumper harvest delivered a record annual net profit.
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*GrainCorp says $2.8 billion offer undervalues company. SYDNEY, Nov 15- Australia's GrainCorp knocked back a $2.8 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued the grains handler after a bumper harvest delivered a record annual net profit.
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*Graincorp seen holding for 15-20 pct rise in bid offer- sources. SYDNEY, Nov 15- Australian grains handler GrainCorp knocked back an A $2.68 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued it as it reported a record annual net profit thanks to a bumper harvest.
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*Graincorp seen holding for 15-20 pct rise in bid offer- sources. SYDNEY, Nov 15- Australian grains handler GrainCorp knocked back a $2.68 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued it as it reported a record annual net profit thanks to a bumper harvest.
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*Graincorp seen holding for 15-20 pct rise in bid offer. SYDNEY, Nov 15- Australian grains handler GrainCorp knocked back a $2.68 billion takeover offer from Archer Daniel Midland Co on Thursday, saying the bid undervalued it as it reported a record annual net profit thanks to a bumper harvest.
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*Deal needs approval of KCBT shareholders, regulators- CME. CHICAGO, Nov 14- CME Group has received approval ahead of schedule from U.S. anti-trust regulators to buy the Kansas City Board of Trade, although the deal is not yet finalized.
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Nov 14- Starbucks Corp plans to acquire tea store operator Teavana Holdings Inc for $620 million in cash, furthering its push beyond its flagship coffee business. Starbucks, the world's largest coffee shop operator, said it will pay $15.50 per share in cash for Teavana, a 54 percent premium to the company's closing price on the New York Stock Exchange on Tuesday.
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Nov 14- Starbucks Corp said on Wednesday it plans to acquire tea store operator Teavana Holdings Inc for $620 million in cash, furthering its push beyond its flagship coffee business.
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Nov 13- Canada's Inmet Mining Corp said on Tuesday that it is not in talks with any party about a sale of the company or a substantial part of its assets, contradicting a British media report, and its shares fell 5 percent. Shares of Inmet closed down 5.32 percent at C $54.44 on Tuesday on the Toronto Stock Exchange after the company denied the takeover rumors.
Private Equity
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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.
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Kevin Gardiner, head of global investment strategy at Barclays, tells CNBC that the markets present a longer term opportunity for investors even despite the potential of market setbacks.
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Speaking bluntly, Ackman, who sits on the JC Penney board and whose $12 billion Pershing Square Capital Management is the company's largest shareholder, said big mistakes have been made remaking the 110 year-old retail brand.