Lowe's announced that it has entered into an agreement of purchasing Orchard Supply Hardware for US$205 million plus assumption of debt.
Industry
Four Banks Start Work on China Cinda IPO
China Cinda Asset Management Corp. planned its initial public offering with Bank of America Merrill Lynch, Goldman Sachs, UBS and Credit Suisse formally set to work.
UK’s Co-op Bank Agrees to US$2.4 Billion Rescue Plan
Britain's Co-operative Group agreed on a plan to plug US$2.4 billion capital hole to avoid a repeat of the taxpayer funded bailouts at the time of the financial crisis.
Elan Shareholders Favor Share Buyback
On Monday, Elan shareholders approved a share buyback and put itself up for sale on Friday. (Photo : Reuters)The image is the logo of Elan Pharmaceuticals.
UPDATE: Lowe’s Steps In after Orchard Supply Files Chapter 11
Orchard Supply Hardware Stores Corp filed Chapter 11 bankruptcy protection to proceed with the sale of the company's major assets to Lowe's Companies priced at US$205 billion.
Latest News
Cheung Kong Holdings Ltd will undergo joint venture to acquire RAV Water Treatment. (Photo : Reuters)The image shows a boy drinking treated water from a faucet.
After GenCorp Inc. acquired Pratt & Whitney Rocketdyne, Aerojet Rocketdyne was formed with a prediction of US$1.2 billion savings over the next decade.
Brookfield Asset Management will sell its Longview Timber Holdings and its paper packaging business in separate transactions for US$3.68 billion.
Pope Francis, in the bid to reform the Vatican bureaucracy, appoints Monsignor Ricca to manage the Vatican Bank.
Prime Minister Shinzo Abe announced cutting down Japan's pension fund and focusing into stocks, away from government bonds.
India's rapidly declining currency is a clear sign that US policy affects the whole world. (Photo : REUTERS)Indian currency of different denominations are seen in this picture illustration taken in Mumbai India is emerging as the canary in the mine for Asia's money market.
Net long position of the US dollar fell, together with other currencies according to the Commodity Futures Trading Commission.
Foreign investors, such as China and Japan, have started divesting their US bond holdings. (Photo : Reuters)The image is a bunch of 'Benjamins' in a row.
Emerging debt market trading fell by 12% in the first quarter of 2013. (Photo : Reuters)The image is the facade of the New York Stock Exchange. The trading volume for debts from emerging markets declined by 12% in the first quarter of 2013 compared to the previous year.
