Textron Inc., the maker of Cessna planes, reportedly agreed to takeover aircraft manufactured Beechcraft Corporation for $1.4 billion. Beechcraft has put up itself for sale after emerging from a bankruptcy protection earlier this year.
Corporations
BlackBerry's outsourcing plan with Foxconn paves way for transformation to a services firm- report
The deal that BlackBerry has made with Foxconn Group to outsource the making of its handsets is a sign that the smartphone company is evolving into a services firm, Bloomberg reported.
Fitness startup Retrofit raises $5M in Series B funding round led by Cambia Health Solutions
Retrofit, a fitness company whose clients include Google, Salesforce.com and American Medical Association, has raised $5 million in a Series B funding round lead by Cambia Health Solutions.
Brazil's Vale forms joint venture with power company Cemig, reduces stake in controversial Amazon dam
Vale, the world's leading producer of iron ore, agreed to enter into a joint venture with power company Cemig to run six hydroelectric power plants. Vale also halved its 9% stake in Norte Energia, which builds a hydroelectric dam in Amazon, Brazil
Air France-KLM to sell CityJet, VLM Airlines to Germany's Intro Aviation for undisclosed sum
Air France-KLM has put its regional airline CityJet on the block after posting a loss of €209 million last year. It had received on Friday a firm offer from Germany's Intro Aviation to buy the struggling Dublin-based airline.
Latest News
Michaels Stores, a retailer of arts-and-crafts based in Texas, has reorganized its previous plans to undertake an initial public offering, the Wall Street Journal reported.
Vodafone Group has agreed on a domination agreement with Kabel Deutschland a few months after purchasing the German cable company for €7.7 billion. Domination agreements are used in Germany by acquirers who wish to gain full control of the company without controlling all the shares.
A US Bankruptcy Court approves honey supplier Groeb Farms Inc to proceed with its restructuring plan
A US Bankruptcy Court allowed honey supplier Groeb Farms Inc to proceed with its restructuring plan, allowing the Michigan company to come out of Chapter 11 protection.
Global private equity firm Providence Equity Partners will be exiting trade show company George Little Management to trade show operator Emerald Expositions Inc for $335 million.
UK engineering solutions provider Costain Group Plc exited its minority stake in three joint ventures to publicly traded water utility Severn Trent Plc to raise investment funds and working capital.
New York, US-based multinational private equity firm Blackstone Group LP acquired a minority stake in Edens shopping center in a deal valued at $718 million.
Turin, Italy-based car maker Fiat SpA restarted negotiations to purchase the remaining shares of US-based auto manufacturer Chrysler Group LLC, according to sources familiar with the matter.
Singapore's national flight carrier Singapore Airlines Ltd announced on Friday its purchase of an additional 7.3% equity stake in budget carrier Tiger Airways Holdings Ltd in a deal valued at S$49 million ($38.7 million).
Hamilton, Bermuda-based global commercial property firm Brookfield Property Partners LP increased its offer to buy New York, US-based firm Brookfield Office Properties Inc by $1 per share after a bid evaluation.
