Cargill Inc. and Archer Daniels Midland Co. were in final stages of discussion to close an acquisition deal that could be worth as much as USD2 billion, according to sources.
Sectors
Coffee Bean plans exit strategy with IPO or sale
The Coffee Bean & Tea Leaf chief executive and president Mel Elias said his company would be planning an exit strategy in order to generate funds for its growth expansion in southern California and north Asia.
Eni to exit stake in German gas networks - report
German newspaper Stuttgarter Zeitung said on Wednesday that utility company EnBW would be buying Italian energy company Eni's stake in the German natural gas transmission networks they co-owned.
Apple will not catch up with High-res retina display fad in new iPad Mini - sources
Sources from Apple Inc's supply chain told Reuters that the tech giant would not be able to do a worldwide release of its new iPad Mini equipped with high-resolution retina display.
State-owned Alrosa prepares for share sale
Russian diamond company Alrosa announced on Wednesday that it has planned to sell 14% of its stake on the Moscow bourse.
Latest News
Wix.com filed for an initial public offering valued up to USD100 million, said a Reuters report. On Tuesday, Wix. com Ltd. had filed with the US regulators to raise USD100 million in an initial public offering of common stock.
According to a Reuters report, venture capitalists showed no signs of shying away from startup investments related to Bitcoin even as authorities increased scrutiny among numerous virtual currency firms.
On Tuesday, Barracuda Networks had filed for an initial public offering valued more than USD100 million, according to a regulatory filing.
Merck & Co. decided to cut its annual spending by USD2.5 billion and eliminate more than 10% of its global workers.
A shareholder at JC Penney sued the struggling retailer over a surprised decision to sell 84 million common stock after assuring its investors that there would be no need to raise capital in the company.
The US government shutdown had started its first day after 17 years after US President Barack Obama and congressional Republicans failed to settle the budget issue before the deadline on Tuesday, said a Reuters report.
A USD347 million loan package was finalized by Chilean shipping form Compania Sud Americana Vapores to purchase new ships.
In a telephone interview, mortgage industry experts say that the shutdown would not only delay approvals but also put banks at risk as they work around the government's lack of services.
Harbinger Group, Philip Falcone's investment firm, jumped in value as it sold off shares to a consortium headed by Leucadia National Corp.
