Last Monday, LVMH announced an 80% acquisition deal of Loro Piana priced at Eur2 billion. On Monday, LVMH said that it has acquired 80% of Loro Piana, an Italian luxury cashmere clothing brand.
Investors
US Stocks Rise as Earnings Season Begins
US stocks rose for a third consecutive day yesterday. US stocks have risen for a third consecutive day as investors eagerly await the start of second-quarter earnings season amid news of euro-area finance ministers approving the aid for Greece.
Raytheon Wins New Electronic Jammer Contract
Raytheon announced that they were awarded with the deal to make the new electronic jammer for the US Navy.
Mylan’s US$1.6 Billion Deal Put On Hold
Mylan’s acquisition of a unit at Strides Arcolab Ltd announced July 8 was deferred by Indian regulators.
Moelis Plans U$35 Million in Payouts to Staff, Investors
Moelis & Co decided to pay US$35 million to its investors and employees that held a stake in the firm.
Latest News
Starboard announced that they were able to acquire a 6.9% stake in Emulex Starboard Value LP announced that they acquired a 6. 9% stake in Emulex Corp.
Nissan has completed its plans to revive the Datsun, whose operations previously ended in the 1970's.
Michael Dell has received support from Institutional Shareholder Services Inc. for the $24.4 billion acquisition of his company.
Greece got cash lifeline funded by the euro zone and the International Monetary Fund which spared the country from incurring debt default by August.
Alcoa Inc. reported better-than-expected performance this season. Alcoa Inc. , the largest aluminum producer in the US, reported earnings that surpassed financial analysts' estimates after its unit that provides essential components to power and aerospace companies had a better-than-expected performance.
Yanzhou of China offered to buy the remaining shares that they do not yet own in coal mining company, Yancoal
The shareholders at Clearwire approved the buyout bid from Sprint Nextel to acquire more than 49% of the company that it does not own on Monday.
Buffet gave around 17.5 million Class B shares to the Bill and Melinda Gates Foundation. Warren Buffett has contributed a record US$2 billion to the Bill and Melinda Gates Foundation.
Chief Executive Officer for Barnes & Noble William Lynch resigned on Monday after failure to lead the US bookstore chain to compete against Amazon.com and Google Inc in the online market.
