Arabtec has gained approval for the purchase of 45% of EFECO from its shareholders. Arabtec would be purchasing 45% of Emirates Falcon Electromechanical Co or EFECO shares that the Dubai based builder does not already own.
Corporations
Archer-Daniels-Midland Purchases GrainCrop Ltd.
ADM purchases Australia's GrainCrop for US$2.3 billion. The world's largest corn processor, Archer-Daniels-Midland Co finalized an agreement from GrainCorp Ltd for the purchase of the rest of the Australian crop handler's business and assets.
BB Seguridade Participacoes SA's IPO the largest this year
Banco do Brasil SA's BB Seguridade Participacoes SA IPO is estimated to be worth of US$4.2 billion.
ThysssenKrupp Assets for Sale Gain Interested Bidders
ThyssenKrupp, because of declining demand and low priced competition, is selling off assets in the Americas to
Glass Lewis Votes for Timken Co Break Up
Glass Lewis joins ISS in supporting the split of Timken into its bearings and steel businesses. Glass Lewis, the activist proxy advisory firm, had told its Timken Co shareholders that the non binding proposal to break up the company's ball bearings and steel business is a good move.
Latest News
At the opening of market trading, Vodafone shares increased in light of rumored buyout offer from Verizon.
IHSI shares are now publicly traded in OTC Bulletin Board. The board of Intelligent Highway Solutions Inc has announced that shares of stock under the ticker symbol IHSI has been traded publicly in the OTC Bulletin Board.
Kawasaki Heavy Industries is open for merger option but has not made formal moves despite report from Nikkei newspaper.
In a surprising move, Ramky Enviro has suspended the scheduled IPO citing 'tepid market conditions.'
Potash Corp of Sasketchewan has formally withdrawn its takeover bid over Israel Chemicals. The Potash Corp of Saskatchewan Inc has cancelled a proposed takeover bid for Israel Chemicals Ltd after criticism of the deal was made by workers and politicians alike.
Royal KPN is now selling shares at 62% value of closing price in the Dutch bourse last Thursday. Royal KPN NV is in the process of conducting a Eur3 billion or US$3.
Baidu has acquired PPS Net TV as reported by China Business News. The largest search engine of China, Baidu Inc is now processing the acquisition of PPS Net TV, a Chinese online video company.
Arseus acquires Freedom Pharma to create a global niche for drug compounding. Arseus, in an announcement, made public its acquisition of Freedom Pharmaceuticals.
The neighbors at the Formosa Strait are now in agreement as to oil and gas explorations in Myanmar. Sinopec Group, the largest Asian oil refiner, had announced last Thursday that it had entered into an agreement to sell its 30% shareholdings in an oil and gas block located in Myanmar.
