The following bids, mergers, acquisitions and disposals were reported on Tuesday The following bids, mergers, acquisitions and disposals were reported by 1500 GMT on Tuesday: - Capital One Financial Corp said it agreed to sell to Citigroup Inc its $7 billion portfolio of private label and co-branded credit card accounts linked to electronics retailer Best Buy Co Inc.
Sectors
SNI Sells Interests
SNI selling off interests to foreign firms. The Moroccan royal family's investment firm, SNI recently announced the sale of its 37. 7 percent stake in dairy firm Central Laitiere.
StoneMor Partners LP Purchases Seawinds Funeral Homes
Funeral home purchase expands StoneMor Partners leverage. In an announcement made today, StoneMor Partners LP acquired Seawinds Funeral Homes of Central Florida.
Office Depot Takes Time Nominating Board
Office Depot reschedules nominations for new Board of Directors. In a statement, Office Depot Inc, after discussions with its largest investor Starboard Value LP, is extending its deadline in the nomination of candidates to fill the seats of its Board of Directors during its next annual meeting.
HP Recovers Value and Raise Price Forecasts
HP stock price rises in light of better returns. In a rally, HP share values increased by as much as eleven percent for the fourth quarter of 2012. This prompted at least eight brokerage houses to raise price forecasts over the stock but market analysts say that the worst is still to come for the company.
Latest News
Itochu today paid Dole a non-refundable cash deposit of $200 million to be applied toward the purchase price
Renesas is restructuring and will sell shares of stock to improve its overall position. Shareholders of Renesas Electronics Corp had passed a resolution to approve a sale plan amounting to 150 billion yen.
ING Bank Australia to sell record high mortgage backed bonds. ING's Australia unit, ING Groep NV is projecting to sell up to Aus$2 billion or US$2.
New agreements forged to complete Utica Joint Venture. The Utica Joint Venture, comprising of MarkWest Energy Partners LP and the Energy and Minerals Group announced the formalization of an Amended and Restarted Limited Liability Company Agreement for MarkWest Utica EMG LLC.
REIT purchases sprawling Ontario property for expansion. True North Apartment Real Estate Investment Trust has announced that it would acquire four properties in the Ontario area for a total purchase price of US$25.
Petroleum company purchased for US$4.3 billion. A merger agreement was settled between Berry Petroleum Company, LINN Energy LLC and LinnCo LLC. LINN Energy and LinnCo would purchase all of Berry's current outstanding shares totaling US$4.
Alvarion sells carrier licensed division to rival Telrad. Alvarion has recently entered into an agreement with Telrad networks for the acquisition of Alvarion's carrier licensed division.
Softbank would turn to bond issue to fund Sprint Nextel purchase stake. Japanese wireless carrier Softbank Corp. has agreed to purchase a US$20 billion stake in Sprint Nextel Corp.
The US auto manufacturer has implied that it is actually boosting South Korean presence by making $7.3 billion investment for global growth.
