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Reuters Deals Today

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Shadows that started to fall over the pitch books of European dealmakers in the second quarter are darkening, threatening to rob banks of a few billion dollars in potential M&A fees. After a robust first quarter boosted by mega transactions like Deutsche Telekom's $39 billion exit from the U.S., fears about stuttering growth and Europe's mounting debt crisis slowed the rise to only 24 percent in the second quarter, reversing hopes of a robust rebound and several years of rising M&A. Analysts are pointing toward September as a key time frame if M&A's have any hope of rebounding, with SABMiller's expected renewed assault on Australian bid target Foster's coming later this month. In other news, Bank of America Corp has held exploratory talks with the principal investment funds of Kuwait and Qatar about selling part of its $17 billion stake in China Construction Bank, three sources with direct knowledge of the talks told Reuters.
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News Corp will withdraw its bid for British broadcaster BSkyB, the company said. Breakingviews columnist Chris Hughes writes James Murdoch should stage his own tactical retreat and resign from News Corporation. Medical device maker Kinetic Concepts said it would go private in a nearly $5 billion cash deal with a consortium of private equity firm Apax Partners and two Canadian pension firms. Electronic Arts Inc, the video game publisher, is buying PopCap Games in a deal worth up to $1.3 billion as it tries to ramp up its social and casual games portfolio and better compete with Zynga.

Reuters Deals Today

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The London Stock Exchange, which plans a shareholder vote on its $3.5 billion merger with Canada's TMX Group on Thursday, could become a target itself if the deal fails, analysts said. BJ's Wholesale Club agreed to be bought by private equity firms Leonard Green & Partners and CVC Capital Partners for $2.8 billion in cash, an offer price that shows there is a modest appetite for retail deals. Dell expects acquisitions to remain a critical focus for the computer maker, which is expanding into areas such as storage and services, according to its top executives. Rupert Murdoch's News Corp will open talks in the next few days to secure British satellite broadcaster BSkyB, sparking a showdown with investors and potentially within the U.S. media conglomerate itself. 

Financial & Forex Info | Reuters Deals Today

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General Electric and Capital One have submitted bids for ING's U.S. online banking operations in a deal worth about $9 billion, Bloomberg reports. The frothy market for Internet IPOs is raising the specter of a bubble , underscoring how little has changed despite lawsuits and investigations in the wake of the 1990s dot-com craze. Maple Group Acquisition Corp, which has gone hostile with its $3.7 billion offer for Toronto Stock Exchange operator TMX Group , is in talks to add at least three other financial-services companies to its consortium, the Wall Street Journal reports, citing sources. BP is preparing to sell half of its 50 percent stake in TNK-BP to state-controlled Rosneft, the Wall Street Journal reports. The move represents an attempt to salvage a planned tie-up between BP and Rosneft, announced in January, and could be a negotiating tactic with AAR, the group of billionaires which owns the other half of TNK-BP, the Journal reports. Chinese com

Financial & Forex Info | Reuters - deals Today

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Internet giants Facebook and Google are separately considering a tie-up with Skype after the Web video conferencing service delayed its initial public offering, two sources with direct knowledge told Reuters. A Skype deal could be valued at $3 billion to $4 billion, according to one of the sources. Swiss commodity trader Glencore's planned $11 billion listing was fully covered on its first day as investors rushed to take part in the mega-float, two sources close to the deal said on Thursday. Investors placed orders for all the shares on offer, including a 10 percent overallotment option, sources said, adding it was too soon to say where in the indicated 480-580 pence ($0.79-0.95) range the shares would be priced. Warner Music Group could reach a deal to sell itself as soon as close of business on Thursday when the board meets to make a final decision, according to two sources. The world's third largest music company is expected to be sold for over $

Financial & Forex Info | Reuters - Deals Today

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Johnson & Johnson is to buy Swiss medical devices maker Synthes for $21.6 billion in its largest ever buy, giving J&J a leading position in equipment to treat trauma. Synthes, which posted sales of $3.7 billion in 2010, makes nails, screws and plates to fix broken bones, as well as artificial spine discs. "It is surprising the deal has been struck between cash and shares. The market consensus, and our view, was it would be all cash, so the quality of the take-out is slightly lower than we anticipated," said Morgan Stanley analyst Michael Jungling. Phone company CenturyLink is to buy Savvis for about $2.5 billion in cash and stock to beef up its data center business as it looks to meet the growing demand for cloud-based services. The deal comes at a time when regional phone companies like CenturyLink, which acquired rival Qwest for $10.6 billion last year, are looking at ways to boost their business as consumers continue to disconnect the

Financial & Forex Info | Reuters - Deals Today

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Nasdaq OMX and Intercontinental Exchange (ICE) said they have lined up a commitment to finance their rival bid for NYSE Euronext and have offered to pay a breakup fee if the deal fails to go through. This article from The Wall Street Journal lists the details of how Nasdaq and ICE is plan to sweeten their offer for the exchange even more. Samsung Electronics is selling its hard-disk-drive (HDD) business to Seagate Technologies for 1.4 billion in cash and stock as Samsung looks to back out from the industry and focus on its core money-making memory-chip business. The acquisition will help Seagate, the world's largest maker of hard drives better compete with rival Western Digital, which has plans to buy Hitachi's HDD unit for $4.3 billion. Leading corporate governance body PIRC is telling Xstrata shareholders ahead of their board vote they should reject the election of three directors nominated by its top shareholder Glencore because it does not percei

Financial & Forex Info | Reuters Deals Today

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  Despite upheaval in the Middle East and Japan, worldwide M&A have risen 58 percent to $717 billion so far this year , according to preliminary data from Thomson Reuters, marking the best start to a year since 2007 and building on last year's tentative recovery. Analysts expect to see continued strong activity in mining and energy , but some warned it's still too early to see the full implications of the recent crises. Deal-making in Asia got off to a strong start in 2011, with cashed-up companies tapping investment opportunities in sectors from energy to industrials , and bankers say the transaction pipeline for the rest of the year looks healthy. Executives at boutique investment banks see an increasing number of clients wanting their advice after a Delaware ruling last month accused large investment bank Barclays Capital of conflicts of interest. Wall Street's most powerful bank, Goldman Sachs Group , is making its worst showing in U.S. deal advis