Could it be a little détente over drinks? Even as WikiLeaks has tattled on American diplomats who described Russia as a “virtual mafia state,” the beverage businesses of the two countries just got a little closer. PepsiCo said on Thursday that it had agreed to pay $3.8 billion for a two-thirds stake in the Russian [...]
Wolfgang von Brauchitsch/Bloomberg NewsWorkers at an ABB plant The Swiss group ABB is set to buy the Baldor Electric Company, an American motor manufacturer, for $3.1 billion, the companies said on Tuesday in a joint statement. ABB, which specializes in automation, has offered $63.50 a Baldor share as it makes a push into North America, [...]
Wal-Mart, looking to tap growth in Africa, said on Monday that it had made a formal offer of about 17 billion rand ($2.4 billion) for a majority stake in Massmart, the South African retail chain. Wal-Mart said its aim was to “grow its international business by increasing its exposure to emerging markets with high growth [...]
Chris Ratcliffe/Bloomberg News BP agreed on Sunday to sell its majority stake in Pan American Energy to its partner in the joint venture, Bridas, for about $7.1 billion in cash, as the wounded oil giant continues to sell off assets. With the sale of Pan American, one of the biggest oil producers in Argentina, BP [...]
FrontPoint Partners, a $7 billion hedge fund under fire for allegations that a manager there benefited from insider information, has received about $3 billion in redemption requests, according to a person with knowledge of the matter. The huge calls by investors for their money back come at a time of investor nervousness following the raid [...]
Jim Lee/BloombergMillard S. Drexler, J. Crew’s chairman and chief executive. J. Crew on Tuesday confirmed that it would sell itself for about $3 billion to the private equity firms TPG Capital and Leonard Green & Partners, with the support of the company chairman, Millard S. Drexler. The buyout firms will pay $43.50 a share, a [...]
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