Time Warner Cable's 462% total returns may help convince its shareholders to reject Charter Communications' $62 billion offer or to not press for a sale. Time Warner Cable is seeking a takeover bid of $150 per share.
Investment banks
BofA's legal costs rise because of Countrywide deal- report
The Los Angeles Times reported that the legal costs of Bank of America could continue to rise, mostly due to its ill-fated acquisition of Countrywide Financial Corp in 2008.
Cash-rich Islamic banks seek to invest in Western businesses
Islamic banks want to diversify their investments outside of the Middle East and real estate and are seeking to work with Western businesses that comply with the Shariah law.
UK to consider new rules to raise funding for SMBs
The UK government is mulling on rule changes that would make it easier for small and medium-sized businesses (SMBs) to obtain funding from alternative financiers and new banks.
NH Investment & Securities shares surge as parent firm named frontrunner to purchase Woori Investment
Shares of NH Investment & Securities Co gained the most in more than three years after Woori Finance Holdings said its parent company NH Financial Group Inc was the frontrunner to purchase the Woori Investment & Securities Co.
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Roshan Padamadan, a former HSBC Holdings Plc product specialist, has started a hedge fund that will seek for opportunities in global liquid securities, Bloomberg reported.
Sprint chairman and SoftBank chief executive Masayoshi Son was reportedly meeting senior bank executives in New York. Sources said that banks are readying proposals for financing a bid by Sprint Corp. for T-Mobile US.
Investment bank UBS AG has put up for sale its administrative services arm for employee equity plans to simplify its operations. Corporate Employees Financial Services International will be sold to Montagu Private Equity.
Venezuelan bank Banesco has won the bid for a controlling stake in Spanish state-rescued lender NCG Banco through its €1 billion offer. Banesco bet out five other rivals in the auction.
Private equity firm Carlyle Group had put up for sale its specialty chemicals business PQ Corp. for $3 billion. Carlyle has tapped investment bank Credit Suisse to explore an outright sale or IPO of PQ.
Wall Street banks including JPMorgan, Goldman Sachs, Bank of America Merrill Lynch and Morgan Stanley have been calling on private equity firm Ares Management to go public soon. Ares, however, does not see the need for a public offering in the near future.
Hutchison Whampoa, a conglomerate controlled by Hong Kong tycoon Li Ka-shing has picked Bank of America Merrill Lynch, Goldman Sachs and HSBC to manage the proposed listing of A.S. Watson in Hong Kong and London.
David Gonski, the head of the sovereign wealth fund of Australia, will be the Chairman of the Australia & New Zealand Banking Group Ltd, Bloomberg reported.
JPMorgan Chase has filed a case against the Federal Deposit Insurance Corporation in a bid to recover more than a billion dollars from the government agency which managed the receivership of Washington Mutual.
