General Electric Co. terminated the agreed $3.3 billion acquisition of Sweden's Electrolux AB on its appliance business. According to The Wall Street Journal, GE was under pressure by the U.S. Justice Department, which was blocking the sale due to antitrust issues.
Deals
Saudi Aramco: World’s most valuable company to go public
Saudi Aramco, the Saudi Arabian oil company, has emerged as the most valuable company in the world. Talks about a potential public offering have created quite a stir in the stock market, as the investors wait for more details from the oil kingdom.
Oracle billionaire sold controlling interest in his Hawaiian Island Air
Oracle billionaire Larry Ellison's Ohana Airline Holdings LLC will sell a controlling interest of Island Air to venture capital investment company PacifiCap.
Alibaba Ventures into the Print Media Business Buying The South China Morning Post For Around $262 million
The SCMP Group finally closed the deal with Alibaba at a whopping US$262 million approximately. After many rounds of rumors, the Chinese company has announced that Alibaba has agreed to venture into the news business acquiring The South China Morning Post. This Hongkong based newspaper and the other assets of the SCMP Group including the Elle and Esquire sister concern publications and websites will cost Alibaba a big sum of more than $2 million.
Talks of Dow-DuPont Merger: Futuristiic Powerful Mergers Can Help to Reshape the US Corporates
The new financiers are all set to invest a good amount of money into futuristic campaigns. They wish to bring in a much-needed transformation to the numerous U.S. companies that have created a solid niche in the past few years by producing high returns.
Latest News
A Madrid base service and infrastructure company, Ferrovial SA offered a total of A$715 million in cash to acquire more than half of stakes in Broadspectrum Ltd. The new offer makes by the company comes after the Australian company rejected its previous offer a year ago that value the company at A$1 billion.
Motorola acquires UK's Airwave for $1.2 billion to enhance its service business in mobile communication.
Japanese startup aroma sensor developer Aroma Bit has appointed Batara Eto and Atsushi Tanaka as its advisors.
JPMorgan Chase has teamed up with On Deck Capital to accelerate the loan processing for the small business segment. On Deck Capital is an online provider of high-cost lending and will offer its technology platform for JPMorgan to speed up loan processing for its four million customers. JPMorgan will launch new Chase product in 2016 taking care of small-dollar loans.
South African largest media company, Naspers increases its U.S exposure. The company that has operated in 130 countries is ready to expand its service worldwide
Petra Diamond Ltd and Ekapa Minerals Pty have acquired De Beers oldest diamond mine in Kimberley. UK's Petra Diamond Ltd partners with South African's Ekapa Minerals Pty to buy the oldest mines of De Beers in South Africa.
Japan state-backed fund is keen on acquiring stakes in Sharp Corporation for Yen 200 billion ($1.63 billion). Sharp Corp recorded Yen 50 billion operating loss for the first half of 2015. The LCD business unit of Sharp Corp is a major contributor to the losses. Sharp is planning to spin off LCD business unit and later it may consider stake selling, according to media reports.
Victoria's Secret owner became a billionaire as his company soared 71 percent after its initial public offering in the Hong Kong exchange in October.
One of the largest property developers in China, Evergrande Real Estate Group Ltd., acquired 50 percent share from Great Eastern Life Assurance Co for 3.9 billion yuan, or $610 million, to get into the insurance industry.
