The Pac-Man defense has been used by Men's Wearhouse as it makes a counteroffer to Jos. A. Bank Clothiers which first made a bid to buy Men's Wearhouse this year.
Legal & Regulatory
23andMe defends genetic testing product
23andMe Chief Executive Officer Anne Wojcicki defended her company's genetic testing product and stands by the data on the accuracy of their results after the public warning letter issued by the US Food and Drug Administration.
Top deals of the day - bids, mergers and acquisitions
The following bids, mergers, acquisitions and disposals were reported on Wednesday including Sinopec, Apache, AMR, US Airways, Deutsche Bank, EDF, Oxford, Andor, Bank Zachodni WBK, Shuanghui, Campofrio, OCZ, Toshiba and CVS Caremark.
Indian ministries clash over capping foreign stakes in drug firms
India's finance ministry is resisting pressure from other departments to cap foreign ownership of domestic drugmakers, fearing such a move would discourage potential investors, a senior ministry source said.
Turkcell sues MTN in South Africa for $4.2 billion in Iran damages
Turkish mobile phone company Turkcell has taken to a South African court its $4.2 billion lawsuit against rival MTN Group, alleging it was the victim of "corruption and bribery" that caused it to lose a contract in Iran.
Latest News
3 U.S Senators published an op-ed in the New York Times today, questioning on why American citizens were not able to have the knowledge to challenge the infringement of their privacy rights.
Private equity firm TPG has asked a specialised Dutch court to order an inquiry into the affairs of Strauss Coffee, in which it holds a 25 percent stake, claiming majority owner Strauss Group had abused its rights in the company.
According to a report by Bloomberg, the charts produced by market-data provider Nanex LLC caused the ire of some traders, who insisted that Nanex's charts caused unnecessary investor anxiety.
In its efforts to restructure the company, Bank of Cyprus hired former deputy chief executive Euan Hamilton from the Royal Bank of Scotland as a consultant. Bank of Cyprus's efforts to turn the state of the company around has been hindered by political infighting as well as heavy criticism over its lack of transparency.
China Banking Regulatory Commission's new rules will prohibit banks to circumvent lending limits via loan restructuring and other means, according to sources who had disclosed the new banking measures to Bloomberg.
The New York Times cited reports that have suggested that Level 3 Communications, which controls most of the fiber optic cables that connect everyone to the Internet, may have greenlighted the NSA to tap data from Yahoo and Google. Both companies have announced that they will now start encrypting their data.
A US district court has rejected Citigroup Inc.'s injunction barring Abu Dhabi Investment Authority (ADIA) from seeking a secondary arbitration over its USD7.5 billion investment in the then-beleaguered bank.
According to Xinhua, China Mobile will be the first carrier to provide 4G LTE in China starting Dec 18th. It would certainly boost Apple, of which the latter is eager to regain a significant market share that was lost to Android, said TechCrunch.
In order to comply with competition issues surrounding its July acquisition of Whyte & Mackay owner United Spirits Limited, Diageo PLC offered to sell majority of the latter's distilleries.
