Fortune 500 Western Refining Inc. was negotiating a purchase of a majority stake in Northern Tier Energy LP for USD775 million to capitalize on the rising oil production in the US.
North America
Arrayent raises USD11.9 million for cloud connect platform
California-based cloud connect platform Arrayent recently raised USD11.9 million from Doll Capital Management, Intel Capital, and Opus Capital, to be used for its planned expansion and growth.
Liberty Global in discussions for possible acquisition of Intel Corp's online pay-TV service
Sources told Bloomberg that early talks were on-going between Liberty Global and Intel Corp for a possible purchase of the chip maker's online pay-TV service.
Emulex sells USD125 million convertible senior notes in private offering
Network connectivity services provider Emulex Corporation announced a private offering of USD125 million Convertible Senior Notes due 2018. Net proceeds of the offering would be used to buyback Emulex's shares of stocks.
CustomInk raises USD40 million in funding from Revolution Growth
US-based custom apparel company CustomInk recently secured USD40 million in funding from Revolution Growth, to be used for the expansion of its facilities in Northern Virginia, Charlottesville, and Nevada.
Latest News
AssuredPartners, a portfolio firm of private equity firm GTCR, bought insurance firm Lee F. Murphy Inc. The deal was made through AssuredPartners of Minnesota but no financial terms were disclosed.
Birmingham-based United States Pipe and Foundry Co. and US Pipe Fabrication acquired Minnesota-based company Fab Pipe Inc. to expand its waterworks fabrication and distribution network in the Midwest.
Hedge funds are now entering the municipal debt market, finding a veritable gold mine in value but may provide more problems in the long run as to the temporary nature of the investments.
Backdoor, the anonymous messaging app, founded by technology prodigy Daniel Singer, was able to gather USD 200,000 in seed funding from Brazil-based investment company Arpex Capital.
A USD1.4 billion settlement is being negotiated between Bank of America and Freddie Mac on the issues related to the repurchase of faulty mortgages sold by the bank to the mortgage lender.
Allete Clean Energy, a subsidiary of US power company Allete, recently announced its acquisition of three wind farms located in Minnesota, Iowa, and Oregon, for USD27 million.
Emulex Corp announced that it would be holding a share buyback as activist shareholders called for reforms. Emulex Executive Chairman James McCluney will also step down from the company's board.
T-Mobile, a mobile service provider based in the US, had put up for sale its 66.15 million shares worth USD1.96 billion to improve its capacity for wireless data services.
Legg Mason Opportunity Trust Manager Bill Miller said he bought JC Penney debt for a new fund. Miller holds the record of beating the US benchmark for 15 years.
