After lengthy discussion, Bietz gives in to proposed share sale. ThyssenKrupp of Germany is in the midst of planning to undertake share sales in an effort to raise Eur1 billion to improve its financial position.
Sectors
Investcorp Struggling to Sell Armacell
Armacell bids well below base price set by Investcorp. The sale of Armacell is creating issues as Investocorp's base price could not be reached by the existing bidders.
Affymax Continues Tumble
Affymax's drug recall Ormontys caused decline of the company. Pharmaceutical firm Affymax continued its decline after it fired nearly three fourths of its labor complement and is now in the process of opting for a sale or declaration of bankruptcy.
Pyramid Analytics Supported by Sequoia Capital
Sequoia Capital leads capital funding for Pyramid Analytics. The premiere company that provides data driven decision making to end users at all levels has announces the closure of its latest funding round.
Complete Genomics Acquired by BGI-Shenzhen
BGI-Shenzhen acquires Complete Genomics after regulatory approvals from China and the US were obtained.
Latest News
AmerisourceBergen does a deal with Walgreen and Alliance Boots. AmerisourceBergen, the pharmaceuticals distribution giant, has entered into a ten year distribution agreement with Walgreen Co and its associate Alliance Boots GmbH.
LIPTIC, the Libyan monopoly, management contract tender was halted by the government. The CEO of Etisalat, UAE's top telecommunications service provider had reported that Libya halted the tender of the country's telecommunications operations.
Mulk Holdings forms joint venture with Suzan General Trading in Africa. The UAE2 billion dinar conglomerate Mulk Holdings has recently unveiled its first venture into the African continent through an agreement with Suzan General Trading.
ThyssenKrupp founder's nephew blames Beitz for decline of steelmaker. According to the nephew of ThyssenKrupp's former owner, Alfried Krupp von Bohlen und Halbach, the only person to blame for the decline of the company is Honorary Chairman Berthold Beitz.
The Philippines is moving from foreign debt dependence to local debt raising through auctions. The Philippines' Bureau of Treasury would boost domestic bond sales to raise nearly all of its debt requirements in the wake of record low interest rates and an increasing value of the peso.
Ambow speculative bid for New Oriental spikes shareholder values. The share value of New Oriental Education and Technology Group Inc jumped the largest since July 2012 as a speculative bid by Ambow Education Holding Ltd was said to be on the table.
Paulson moves for suit dismissal alleging lack of obligation. Paulson and Co has sought the dismissal of the lawsuit that alleged the firm conspired with Goldman Sachs Group Inc to entrap the bond insurer to guarantee payments for an investment scheme that is designed fail.
Citigroup settles investor suit amounting to US$730 million. Citigroup Inc has agreed to settle a class action suit on behalf of its investors to the amount of US$730 million.
Safeway's Blackhawk to open up for IPO. The gift card and payment service unit of Safeway Inc, Blackhawk Network Holdings Inc, has filed with federal regulators an application for an IPO of Class A common stock amounting to US$200 million.
