Best Buy closes door on takeover bid of its founder. The latest offer from its minority ownership was considered 'poor' by Best Buy Co. , prompting it to reject the bid by Richard Shulze's private equity sponsors.
Sectors
Bertelsmann to Acquire KKR's Share in Joint Venture BMG
German group Bertelsmann is set to purchase the stake of KKR in the music rights management firm BMG.
Bank of America Faces New York Attorney General Investigation Over Home Loans
In its filing with the U.S. Securities and Exchange Commission, BofA disclosed that the state of New York has been investigating how it acquire and underwrites home loans.
UBS Predicts Pension Funding
UBS research predicts effects of pension underfunding and corporate bond yields. In a research note, UBS is forecasting that US companies would be contributing at least US$70 billion into their corporate pension plans in 2013.
Einhorn Drops Apple Lawsuit
Greenlight ends legal battle with Apple over shareholder vote. In a surprising move, Greenlight Capital has withdrawn its suit against Apple Inc. Greenlight's maverick head David Einhorn sought court intervention to stop the most valuable company in the world's shareholders from voting on a management proposal to prevent the company's ability to issue preferred shares at its discretion.
Latest News
Under the definitive merger agreement, Danfoss will acquire 24.4% of Sauer-Danfoss common shares that it does not already own.
William Hill is set to buy out its online business in a 424 million pound deal. William Hill Online said it plans to acquire its online business for 424 million pounds, indicating a speedup of the expansion of the biggest bookmaker in the UK.
Harris Teeter valued well above market rate, set to be record takeover in its industry. The US grocery store chain Harris Teeter Supermarkets have boasted that it has increased its sales every year in the past decade.
Rio extends budget after impasse with Mongolian government over mining project. The Rio Tinto subsidiary overseeing the Oyu Tolgui gold and copper project, Turquoise Hill Resources Ltd had announced that an extension on construction funding has been provided while discussions are ongoing with the Mongolian government to find a settlement for their dispute.
New Thales CEO projecting future of company. Newly appointed Thales SA Chairman and Chief Executive Officer Jean-Bernard Levy has been on the job for the last two and a half months.
Herbalife expands board to eleven directors for Icahn investment. Herbalife has agreed to increase its board membership by two seats to be chosen by Carl Icahn.
Sandridge Oil posts a 'happy' fourth quarter loss. Oil and gas company Sandridge Energy announced a fourth quarter loss while at the same time bucking criticism from its line of activist investors.
Consortium led by Carlyle Group purchases China's 7 Days Hotel chain. Chinese budget hotel chain 7 Days Group Holdings Ltd has reached a deal with a consortium of investors led by the Carlyle Group.
Morgan Stanley, Main Street and Zions provide financing for OneRoof Energy. A group consisting of Morgan Stanley, Main Street Power Co and Zions Bancorporation has provided OneRoof Energy Inc with a US$100 million facility to enhance its current operations in providing financing for residential solar energy systems.
