From Business Insider | A source “close to Groupon investors” says that Yahoo is reportedly in sales talks with online daily deals site Groupon.
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Court to rule on Potash injunction request
A U.S. court will rule on Potash Corp.’s request for a preliminary injunction against unsolicited suitor BHP Billiton ahead of the November 18 deadline on the Anglo-Australian miner’s $39 billion tender offer, Judge David Coar said on Monday. Get the full story »
Chevron to buy Atlas Energy in $4.3B deal
Chevron will buy natural gas producer Atlas Energy Inc., marking the major oil company’s first foray into the rich gas fields in the eastern part of the U.S. Chevron will pay with both cash and stock, the companies said Tuesday. Including debt of about $1.1 billion, the deal is worth $4.3 billion.
Potash: Shareholders need details on BHP plan
From Bloomberg | A lawyer for Potash Corp. of Saskatchewan Inc., the world’s biggest fertilizer company, say the company’s shareholders need more information about BHP Billiton Ltd.’s plans to acquire the company or to compete against it.
Report: AOL hires financial adviser for Yahoo pursuit
AOL Inc. has hired financial advisers to look into strategic options that could include a combination with Yahoo Inc., according to a newspaper report.
The Wall Street Journal reported Monday that AOL’s advisers have been presenting various scenarios to the company about possible ways the two could combine operations. It cited unidentified people familiar with the matter. Get the full story »
Sara Lee near bakery sale to Grupo Bimbo
A deal whereby Sara Lee Corp sells its North American bakery business to Mexico’s Grupo Bimbofor $900 million to $1 billion could be announced this week, Bloomberg reported Monday, citing two people with knowledge of the matter. Get the full story »
BP gains, with traders citing Exxon bid talk
Shares in BP gained on Friday, with traders citing talk that Exxon Mobil was considering a bid for the oil company.
By 10:29 a.m. EDT, BP shares were up 1.1 percent at 450 pence, having hit an intraday high of 451.35 pence on the rumor. Get the full story »
Canada lets slip one reason for blocking BHP bid
Canada’s farm minister offered one reason that Canada blocked the proposed takeover of Potash Corp. on Thursday, but markets will have to wait a month for all the details to emerge.
Farm Minister Gerry Ritz, in comments his office later said were just speculation, argued that letting BHP Billiton buy the fertilizer giant would have offered Australia’s farm sector too much of an advantage. Get the full story »
Kraft results mixed as Starbucks ends relationship
Northfield-based Kraft reported strong earnings of 47 cents per share on Thursday afternoon. But the company’s sales, up 26.6 percent to $11.9 billion, just missed expectations of $12 billion. Analysts had expected earnings of 46 cents per share.
Earnings for the world’s second-largest food company were lower than the year-ago period, of 55 cents, because of increased advertising investment, higher taxes, and commodity cost increases.
“We had another good quarter, and we’re executing well,” Kraft CEO Irene Rosenfeld said in a statement. “The Cadbury integration has proceeded smoothly and quickly, and we’re already benefiting from significant cost synergies. I remain confident that we will achieve our goals for 2010 and accelerate our growth in 2011.” Get the full story »
Lake Forest investor acquires software company
A Lake Forest shell company has agreed to acquire a Cogility Software Corp. that will allow the privately held software company to become publicly traded.
Acquired Sales Corp., which is controlled by Lake Forest investor Gerard Jacobs, plans to acquire Cogility, based in San Jose, in a stock transaction. Terms of the deal were not disclosed. Closing of the deal is contingent on several conditions, including the completion of a 1-for-20 reverse split of Acquired Sales’ stock. Get the full story »
AmEx to buy Itasca anti-fraud firm for $150M
American Express said Thursday it was paying $150 million to acquire Accertify Inc., an Itasca-based firm that specializes in fighting online fraud.
Founded in 2007 by Jeff Liesendahl and other veterans of Orbitz, Accertify provides airlines and other online merchants with an extra layer of security to help them combat identity theft and credit-card fraud.
The firm’s customers include Delta, JetBlue and Southwest Airlines and Sony, 1-800 Flowers, Barnes & Noble, Urban Outfitters, Electronic Arts, StubHub, Tickets.com, Autotrader and Zipcar. Get the full story »
Huron acquires London’s Trilantic International
Huron Consulting Group expanded its legal consulting unit in Europe and the Middle East with the acquisition of London-based Trilantic International Ltd. Terms of the transaction were not disclosed. Get the full story »
Unilever profit up 19% on sales growth
Unilever NV, one of the world’s largest makers of consumer products such as Dove soaps, Lipton teas and Ben & Jerry’s ice creams, Thursday reported third-quarter earnings rose 19 percent to $1.75 billion on sales growth, cost-cutting, and the weak euro, which more than offset higher raw materials costs.
Unilever said it expects to close a $1,85 billion purchase of Sara Lee’s personal care products division, which is being examined closely by European regulators, in the fourth quarter. It has also agreed to buy Alberto Culver, the U.S. maker of Noxzema, TRESemme and V05, for $3.7 billion. Get the full story »
Canada blocks BHP-Potash deal
The Canadian government on Wednesday blocked BHP Billiton’s $39 billion bid for Potash Corp., the world’s biggest producer of a key crop nutrient, halting what had been the world’s biggest takeover attempt this year and sending Potash Corp. shares tumbling.
Ottawa said the Anglo-Australian miner’s takeover bid offered no likely net benefit to the country as required by Canadian law. BHP has 30 days to make additional representations to the Canadian government before the decision is final. Get the full story »
Casey’s rejects $43 a share bid, ends talks with 7-Eleven
Casey’s General Stores Inc. said Wednesday that it has dismissed a $43 per-share takeover bid from 7-Eleven Inc. and ended negotiations with the convenience store operator.
7-Eleven made an initial bid of $40 in September, which it later raised. Casey’s said the latest offer doesn’t reflect the value of the company in ending talks with 7-Eleven. Get the full story »
