Fidelity and Guaranty Life has raised $165.75 million in its New York initial public offering. The Harbinger-backed insurer sold 9.75 million shares priced at $17 per share.
Regions
Processor design firm ARM acquires Need for Speed graphics and lighting tech provider Geomerics
Cambridge, England-based ARM's acquisition of graphics and lighting tech for games maker Geomerics was strategic, as the former intends to extend its reach in visual computing.
Sycamore to announce $1.2 billion Jones Group acquisition by next week - sources
According to one of the two sources who were knowledgeable of the process, private-equity firm Sycamore Partners might announce its $1.2 billion acquisition of Jones Group Inc as early as next week.
Wall Street will be moving hundreds of millions into Bitcoin - SecondMarket chief
SecondMarket founder and chief executive Barry Silbert claimed in an article on Entrepreneur that Wall Street will soon invest their money in hundreds of millions into Bitcoin.
Simon Property Group spins strip center unit to a REIT
US operator of shopping malls Simon Property Group announced its proposed spin-off of its cluster portfolio of its strip centers and malls as a REIT on Friday.
Latest News
The European Union through its European Banking Authority expressed warning similar to China, Germany and Norway regarding the risks associated in using Bitcoins as payment.
Israeli water meter developer Arad Group is in advanced talks to buy a 50% stake in a Mexican water-measuring company, a Bloomberg report said. The deal is reportedly worth $10 million and is expected to be closed early next year.
Cell Buddy, an Israeli startup, vows to eliminate the risks of mobile phone users getting charged unexpectedly with roaming fees when traveling abroad, an Associated Press report said.
A report by Reuters said the financial crisis had shifted consumer spending habits in the UK from making bulk purchases in superstores to frequent small purchases in nearby small shops, prompting major grocers to change focus of their capital investment to the new consumer trend to attract potential investors.
According to Bloomberg, chemical firm BASF said it will be selling some North Sea oil and gas assets to MOL Hungarian Oil & Gas in a deal worth $375 million.
Confectionery retailer Candyking on Friday said it will withdraw its initial public offering at the Stockholm bourse. Candyking in November said that it would sell 18.5 million shares in a deal worth SEK830 million.
RSA Insurance Group Chief Executive Officer Simon Lee resigned as the insurance company boosted its Irish reserves to £130 million or $212 million, Bloomberg reported.
Elder Pharmaceuticals Ltd. has put up for sale its Indian formulations business to reduce its debt. Rival Torrent Pharmaceuticals will acquire the asset for $324.1 billion through internal accruals and debt.
Investbank, Smolenksy and Project Finance Bank had been stripped off of their operating licenses due to dubious activity and payment issues with creditors and depositors, the Russian central bank said in separate statements on Friday.
