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.
Industrials
Deadline for EDAC Offer Extended
Greenbriar Equity provides deadlines for shares of stock purchase bids. Greenbriar Equity Group disclosed through an announcement released today that the subsidiary corporation of GB Aero Engine LLC and a partner of Briar, GB Aero Engine Merger will give interested acquirers of EDAC Technology's outstanding shares of common stock until 5:00pm EDT of May 6, 2013 to finalize their offers.
Empire State REIT Faces Uphill Legal Climb
A judge of the New York State Supreme Court is set to decide on whether the buyout provision for opposing investors is legal in the Empire State REIT case.
Merchel Halts Sales of Assets
Russia's Merchel Steel has halted the offer for sales of its assets. Russian steel firm Mechel has withdrawn its offer to sell off 25% of its mining division due to tepid market conditions.
Pegasus Airline IPO Nets 1.93 billion lira
Pegasus Airline, Turkey's low cost air carrier, raises nearly 1.93 billion lira or US$1.07 billion in its IPO.
Latest News
ThyssenKrupp, because of declining demand and low priced competition, is selling off assets in the Americas to
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.
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.
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.
Potash Corp of Sasketchewan has formally withdrawn its takeover bid over Israel Chemicals.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.
Tata Steel is issuing ten year Singapore dollar denominated bonds at 5.25%. A local market deal has been formalized and was launched this morning. The deal was Tata Steel's ten year Reg S Singapore dollar denominated bond at 5.
Cathay Fortune offered cash bid with the condition that equity fundraising efforts be halted. Cathay Fortune Corp has proposed a new bid for Discovery Metals on the condition that Discovery stops its plans to raise funds through equity sales.
Deutsche Bank and Mainfirst would conduct pre-IPO private placement sales of Evonik shares. Deutsche Bank and Mainfirst, two major investment banks are in the process of placing up to 2% of the shares in Evonik, the Germany based chemical company.
