News Corp pushes through with separation of businesses into News Corp for publishing and Fox Group for entertainment.
North America
Elan Starts Share Buyback
Elan proceeds with its US$1 billion buyback share program. Elan is expected to undertake the planned US$1 billion share buyback by next week. The Irish pharmaceutical firm's move may undermine the takeover offer by US fund firm Royalty Pharma.
Nielsen Holdings Selling Expositions Business
Nielsen Expositions is up for sale and may be worth US$1 billion. Nielsen Holdings NV, the television ratings firm is now in exploratory talks to sell its expositions business.
Chinese Investors Purchase Stake in GM Building
Zhang led investment group buying stake in GM building in Manhattan. A consortium of investors from China is in talks to purchase a 40% stake in General Motors building located in Manhattan.
Dinan bets JC Penney would still continue ailing performance
Dinan's assessment makes future of JC Penney less than positive. James Dinan, the head of York Capital Management, is betting that JC Penney Corp would continue its poor performance of the company.
Latest News
Carfax will either be sold, put on IPO or be subject of acquisitions for its future. The owner of the used-car history provider Carfax, R. L. Polk and Co is exploring its financial options.
Chesapeake needs to raise cash, chooses to sell off properties. The US natural gas producer Chesapeake Energy Corp would need to sell as much as US$7billion in order to make up for a projected cash funding issue.
Smithfields Food split recommended through letter by shareholder. One of the biggest shareholders in Smithfield Foods Inc has formally recommended to the board to split America's largest hog producer into three separate distinct units.
CNOOC to guarantee Nexen bond issue. Nexen is seeking to amend its current terms of debt with holders of almost US$4 billion worth in bonds. The amendments seek to remove some of the conditionalities as well as add CNOOC as guarantor of the bond issue.
OneWest, the bank from bankrupt IndyMac, is now interested in growth plans either through IPO or through outright sale.
Chrsyler asks for IPO or buyout options from banks. Chrysler has invited banks to offer pitches scheduled for next month for IPO scenarios and results according to four individuals familiar with the decision.
Facebook appoints Chancellor of UCSF Susan Desmond-Hellmann to its board. Facebook Inc has appointed an old hand to become part of its board of directors.
Appeals by hedge funds against Porsche actions withdrawn in the US but case continues in Germany. In a recent move, a consortium of hedge funds has dropped their appeal in US courts but continue their case in Germany.
Icahn and Dell in opposing sides regarding the privatization of Dell Company. Carl Icahn has joined calls for Dell to pay a special dividend totaling $15.
