According to its Chief Executive Officer and Chairman Thomas Falk, Kimberly-Clark decided to spin off its healthcare division as the division no longer fit in the strategic and growth priorities of the company.
Deals
Canadian Cardinal Energy to raise CAD250 million in IPO
Canadian oil producer Cardinal Energy Ltd. targeted to bring in CAD250 million from its initial public offering. The company would price its shares between CAD10 to CAD10.5 per share.
US hedge funds invests, exits controversial firms- report
A Reuters report said hedge fund managers in the US bought and exited from shares of hotly-debated firms like retailer JC Penney, nutrition and weight management company Herbalife Ltd and auction house Sotheby's.
Highfields Capital Management sells stake in JPMorgan, Oracle
Boston-based hedge fund Highfields Capital Management exited from its stake in JPMorgan Chase & Co and Oracle Corp and halved its holdings of Capital One Financial Corp.
Turquoise Hill prepares USD2.4 billion rights offer for Mongolia mine
Vancouver-based Turquoise Hill Resources Ltd said it would go ahead with a USD2.4 billion rights offer for Mongolian copper mine Oyu Tolgoi after the company failed to secure long-term funding for the expansion of the mine.
Latest News
The French government hoped to help fund new state investments and boost national economy by divesting 3.5% of its stake in jet engine maker Safran.
United Kingdom-based Apax Partners aimed to become one of the largest equity holders of textbook publishing company Cengage Learning Inc after the latter exits from bankruptcy.
Ryan Corporation UK acquired a site in Canary Wharf, a business district in London, for GBP 100 million. The property company owned by Tom Ryan aimed to build a residential building that will tower over the highest building on the site.
Russian millionaire and entrepreneur Yuri Milner recently led a Series B funding round for genetics upstart GenapSys for the commercialization of the company's genome-sequencing platform.
Seattle-based online clothes retailer Zulily Inc raised its initial public offering (IPO) price to USD22 per share above the previously expected range of USD18 to USD20 per share.
Lone Pine Capital increased its holdings in online companies by buying shares in China-based search engine Baidu Inc and ecommerce firm Amazon.com Inc. The fund also bought shares in MasterCard Inc.
Hedge fund firm Viking Global Investors obtained 44.9 million new shares in Bank of America in a deal worth USD 620 million near the end of September.
Herbalife Ltd fourth largest shareholder Bill Stiritz said he would most likely take part in a leveraged buyout of the company, as the nutrition company is in the middle of pyramid scheme accusations by hedge fund manager Bill Ackman.
Global asset management firm The Carlyle Group will buy a majority stake retail insurance brokerage company Edgewood Partners Insurance Center. Details of the deal, however, were unknown.
