Hostess brand Drake's to be bought by McKee Foods. Bankrupt snack cake icon Hostess Brands Inc announced that its Drake's snack cake subsidiary would be purchased by McKee Foods Corp.
Investors
China to invest in IADB
Chinese investments through IADB show Chinese interest in the regional market. China will be investing in the Interamerican Development Bank's projects in Latin America and the Caribbean.
Delisting Impregilo Not in Future Plans
Impregilo's shares would not be delisted, according to Salini CEO. Salini, the famed builder of Italy, is not planning to delist Impregilo should their takeover plans of the company be a success.
Member of Ackman's Fund Seek More Information
Ackman's investors seeking clarifications on investments in JC Penney and Herbalife. Two of the institutional investors comprising William Ackman's US$12 billion hedge fund are planning to ask more information on the investment made in beleaguered retailer JC Penney.
UniCredit to announce sale of ATF Bank
Italian bank UniCredit to sell off Kazakh bank ATF. Italy's largest bank by assets, UniCredit is on the verge of announcing the sale of ATF Bank. ATF Bank is its Kazakhstan unit and the sale was confirmed by three sources who spoke on condition of anonymity.
Latest News
DirecTV withdraws from race to buy Vivendi's GVT. The largest American satellite television provider, DirecTV, has ended its chase of Vivendi's GVT.
Morgan Stanley passes Fed test for JV purchase. Morgan Stanley is now nearing the completion of its acquisition of the rest of its wealth management joint venture after completing its testing with the US Federal Reserve.
Malaysia's Khazanah bids for GE shareholdings in Ayudhya Bank of Thailand. Malaysia's state sovereign fund Khazanah Nasional Bhd had offered to purchase General Electric's stake in Bank of Ayudhya.
Cipla Medpro shareholder criticizes low ball offer by Cipla for buyout. One of the top stockholders in Cipla Medpro has said it would require Cipla Ltd to increase its US$500 million offer to purchase the third largest generics drug firm in South Africa.
AEG now off the market according to owner Phil Anschutz. Phil Anschutz, billionaire owner of AEG, has pulled out his sports, music and arena company from the market.
Apollo divesting shares in India's direct to tv market with sale of Dish TV India shares. Apollo Global Management LLC is on the verge of selling its 11% stake in Dish TV India Ltd.
IBM and EMC are partnering to discuss takeover of SoftLayer. EMC Corp and IBM are quietly discussing with web hosting company SoftLayer Technologies Inc to purchase the privately held database web hosting company.
Buxton moves to Old Mutual from Schroders. The eminent head of UK equities at Schroders, Richard Buxton is one of the most renowned fund managers in Britain.
Five Oaks to sell IPO stock worth US$85.5 million. The Five Oaks Investment Corp is an investor in mortgage backed securities. It is projecting that at its IPO, each of the 5.
