Teck Resources, Newmont Mining, Magris Resources and private equity firm Blackstone Group are reportedly bidding for Glencore Xtrata's Las Bambas copper mine in Peru. Las Bambas' estimated end-2014 valuation is at USD6.9 billion.
North America
Synergy report says Amazon still leads in cloud computing
A report from Synergy Research Group said Amazon has trumped other cloud players like Microsoft, IBM and Google when it comes to generating money from cloud computing.
ADM sweetens bid for Australia's Graincorp
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.
US ranks 31st in Internet speed list, nationwide Google Fiber network to cost USD11 billion
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.
Increased litigation costs led to decline in bank profits in Q3 - FDIC report
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.
Latest News
At the SuperInvestor conference held in Paris, EQT Partner Managing Partner Conni Jonsson tackled the difficult issues faced by the private equity world, leading the industry to reflect on where it is headed.
UK's Amec Plc is looking to acquire NASDAQ-listed Foster Wheeler AG. If the deal eventually pushes through, it could generate GBP5 billion (USD8 billion) for the Geneva-based engineering and power conglomerate.
Cloud storage firm Box has acquired startup dLoop for an undisclosed amount, to increase security using fine-grained data analytics technology, helping Box compete better for large enterprise clients.
After a successful Kickstarter campaign, Colorado-based Seamless Toy Company raised USD2.6 million in a seed round to build a system that allows kids to bring toys to life using science.
Private equity firms are keeping more money for acquisitions, according to a report from the Financial Times. The "dry power" of private equity funds have risen to USD 789 billion this year.
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.
Boston-based daily fantasy sports online game DraftKings closed USD24 million in a recent funding round led by Redpoint Ventures for its marketing, acquisition, and expansion activities.
Valuation results in 3Q13 showed a noticeable increase over 2Q13, including the greatest difference between up and down rounds in over six years. The software industry was especially strong, not only valuation-wise, but also in the number of deals.
Ashland, a chemical manufacturer, is in talks with at least seven private equity firms that are all interested in purchasing its water technologies unit in a deal that could fetch upwards of USD 1.5 billion.
