TCC International Holdings Ltd said it received a buyout offer amounting to HKD5.59 billion (USD721 million) from its parent company, Taiwan Cement Corp, which owns 56.5% of TCC.
Investors
Chinese taxi app Kuaidadi gains traction with USD100 million investment and new acquisition
China's mobile-based taxi booking service Kuaidadi confirmed it recently received a USD100 million investment from Alibaba, and has acquired a Shanghai-based taxi booking app called Dahuangfeng.
Fonterra completes acquisition of Tasmania's Tamar Valley Dairy
New Zealand-based dairy firm Fonterra has completed its acquisition of Australia's Tamar Valley Dairy in Tasmania, which is now fully-owned and managed by Fonterra Australia.
JMI Equity takes a liking in Chicago tech companies
American investment firm JMI Equity is reportedly partnering with Hellman & Friedman to takeover Applied Systems Inc. from Bain Capital for USD1.8 billion. JMI has also been an investor in various Chicago companies including BigMachines, Trustwave and CouponCabin.
Massachusetts closes some of the highest-priced M&A deals in the US- SNL Financial report
An SNL Financial report showed that lenders in Massachusetts closed some of the priciest bank deals in the past three years in the US. Four mergers and acquisitions done in the Bay State made it to the top 20 list.
Latest News
The increasing number of new hedge funds by global banks and asset managers in Asia threatened the business of smaller firms who had opened their independent firms just after the 2008 financial crisis.
US-based Archer Daniels Midland Company has increased its offer for agricultural firm Graincorp Ltd by USD200 million to reinforce Australia's agricultural infrastructure through rail enhancement projects.
Namibia Power Corp (NamPower) plans to raise NAD5 billion (USD496 million) to fund the expansion of its transmission networks and power generation over the next five years, according to the firm's managing director.
According to Speedtest.net, 30 countries including Moldova and Uruguay have faster Internet than the United States. Google Inc. has began building its fiber network in Kansas. A nationwide Google Fiber rollout, however, may cost USD1 billion.
The Federal Deposit Insurance Corp reported that the increased litigation cost at one unnamed institution was the primary reason why FDIC-insured banks and savings institutions posted decreased profits in the third quarter this year.
Troubled electronics giant Panasonic will sell three of its chip factories in Japan to Israel's TowerJazz by March 2014, according to sources with direct knowledge of the situation.
The government of South Korea has increased the offering size for a part of its stake in Industrial Bank of Korea (IBK) to USD250 million. Its finance ministry will be selling 23.24 million shares instead of the initial 13.16 million shares.
A study done by CB Insights revealed that only 14% of venture capital firms supported unicorns since 2004. Unicorns refer to young startup firms that have made USD 1 billion exits.
Oregon-based medical billing advocate CoPatient raised over USD1 million in funding for its expansion and product development, and also moved into new offices located in Southeast Portland.
