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.
Regions
South Korean government upsizes IBK block sale to USD250 million
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.
Only 14% of venture capital firms backed unicorns with $1B exits - report
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.
CoPatient gets USD1 million capital and new office in Oregon
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.
Teck, Newmont, Blackstone, Magris consortium new contender for Las Bambas in Peru
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.
Latest News
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.
Indian e-commerce company Yebhi.com is looking to raise USD30 million to USD50 million from venture capital firms. If successful, Yebhi.com will follow leading online retailer Flipkart, which raised USD360 million.
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.
Optimitive, a cleantech startup from Spain, announced on Tuesday that it has successfully secured USD 1.9 million in a Series A round, led by GGM Venture Capital and Optimitive plans to use the funds in building up its sales and marketing team.
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.
