Qihoo 360 Techology Co., China's second-largest search engine by users, on Thursday dismissed rumors that e-commerce major Alibaba Group Holding would pick up a stake in the company. Qihoo shares surged 9.3% on Wednesday on speculation the two companies were in talks over a deal.
Investors
Schaft Inc co-founder opens fund to invest in Japanese startups, universities
Schaft Inc Co-Founder Takashi Kato has launched 246 Capital, a fund that seeks to invest in technologies by Japanese startups and universities not noticed by investors, Bloomberg reported.
US tech firm GitHub buys web design startup Easel
San Francisco, US-based social coding firm GitHub purchased web design startup Easel for an undisclosed amount, according to a blog published by GitHub earlier today.
UK plastic supplier RPC Group adds Bosnian firm Helioplast in $13M deal
England-based rigid plastic packaging products supplier RPC Group PLC has added Bosnia and Herzegovina-based injection molder Helioplast d.o.o. in a deal valued at £8.4 million ($13 million).
Tencent invests in Chinese taxi app Didi
Tencent Holdings Ltd, the biggest Internet firm in Asia, invested an unconfirmed amount in China-based cab booking app Didi Taxi to promote its payment service to mobile web users.
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Pharma giants Novartis International AG and Merck & Co. Inc. are reportedly negotiating an asset trade of about $5 billion each. Novartis wants to exchange its animal health and human vaccines businesses for Merck's over-the-counter health products unit.
Tech giant IBM Corp. said it will invest more than $1 billion to create the IBM Watson Group. The new business unit will enable IBM to get more revenue from the supercomputer system Watson.
China-based car parts conglomerate Wanxiang has sweetened its bid for failed US electric car maker Fisker Automotive in a battle with its rival suitor, Hong Kong-based firm Hybrid Technology.
The Municipal Securities Rule-making Board has released draft rules today aimed at tightening the standards that govern the conduct of firms that give advice to public officials regarding their municipal bonds.
McKesson Corporation has sweeten its offer for German counterpart Celesio AG in a bid to win over hedge fund Elliott Management Corporation. McKesson has lifted its bid from €23 per Celesio share to €23.50 apiece.
New York, US-based small and medium business (SMB) capital provider CAN Capital scored $33 million in a funding round co-led by Meritech Capital Partners and Accel Partners.
The reopening of the IPO market in China did not inspire private equity managers in Asia who do not believe that the development would help companies make profitable exits.
Rolls-Royce Motor Cars Ltd., the world's second largest aircraft engine maker, is reportedly negotiating to buy the marine propulsion division of Finalnd-based power plant and ship engine maker Wartsila. Wartsila has previously refused other approaches for its marine unit.
Bank of China UK on Wednesday issued $413 million worth of yuan-denominated bonds in London, as China seeks to increase the international usage of its currency for trade and investment. Bank of China also said that the bond will list on London's bourse.
