For national security concerns, CNOOC cannot use Gulf assets. China's largest offshore oil and gas producer CNOOC has been disallowed to control oilfields in the Gulf of Mexico.
Corporations
Comark chain for Sale
Comark Stores up for sale. Canada's leading apparel chain, Comark is being offered for sale. Included in the sale are Ricki's, Bootlegger, and cleo stores and the price tag can reach up to US$400 million.
Ithaca Purchases Valiant
Ithaca buys out Valiant for GBP203 million in cash and stocks. In an effort to boost its North Sea oil output, Ithaca Energy Inc has purchased Valiant Petroleum Plc for GBP203 million or US$308.
3i Defends Strategy
3i management under fire for current dismal performance of the company. 3i, after the purchase of shares that increased Richard Bramson's stake in the private equity group, is under fire for the current strategy undertaken to bring it out of the doldrums.
William Hill Buys Out Partner
William Hill Buys out Playtech for online betting business. For the price of GBP424 million or US$643 million, William Hill is taking full control of its online business.
Latest News
Twilio to fund app makers for its services. Facebook, before becoming one of the most successful Internet companies traded in the market, did what no other company did before it.
Ithaca Energy and Valiant Petroleum have reached agreement wherein the former will buy the latter in 203 million pound deal.
Marchionne, CEO of Fiat and Chrysler, opens up on possibilities for the future. Sergio Marchionne, concurrent CEO of Fiat and Chrylser Group LLC, said that he is determining whether the next step forward would be Chrysler going public or the carmaker would be merged with Fiat.
Nomura Holdings has been in negotiation to close a deal under which it will sell its stake in property firm Nomura Real Estate Holdings.
German group Bertelsmann is set to purchase the stake of KKR in the music rights management firm BMG.
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.
The lender is in discussion to make sale of its non-performing loans portfolio to a joint venture. Puerto Rican lender Popular Inc. announced that it has plan of selling portfolio of non-performing loans worth $568 million to a joint venture between Caribbean Property Group and Perella Weinberg Partners-affiliated funds.
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.
Under the definitive merger agreement, Danfoss will acquire 24.4% of Sauer-Danfoss common shares that it does not already own.
