Long-time Fidelity Investments Chairman Edward C. Johnson III will retire next month and will be succeeded by his daughter, Abigail Johnson, the company said on Monday.
1 min read · 21 November 2016
Cybersecurity company Optiv Security Inc, majority owned by Blackstone Group LP (BX.N), filed with U.S. regulators for an initial public offering of its common stock on Friday, Reuters reported.
1 min read · 21 November 2016
Japan's private equity industry, held back by decades of pitiful economic growth and a hostile corporate culture, could see a flurry of activity, with several funds raising capital for deals encouraged by governance reforms and demographic shifts.
4 min read · 21 November 2016
U.S. packaging group Westrock has put a unit making soap dispensers and perfume sprayers up for sale in a potential US$1 billion deal, as it seeks to streamline its portfolio after a recent merger, sources told Reuters. Westrock is working with Lazard on the sale process, which has already advanced to the second round, the sources said, adding final bids from buyout groups including Onex Corp, Advent, Bain, CD&R, as well as British packaging group RPC, were expected by a mid-December deadline. The Westrock unit, dubbed a home, health and beauty business, posted earnings before interest, taxes, depreciation and amortization (EBITDA) of about US$110 million in its last fiscal year on sales of US$567 million.
2 min read · 21 November 2016
Symantec Corp (SYMC.O) said it would acquire U.S. identity theft protection services company LifeLock Inc (LOCK.N) for $2.3 billion, in a deal that it hopes will prop up sales at its Norton cybersecurity unit, Reuters reported.
2 min read · 21 November 2016
U.S. packaging group Westrock (WRK.N) has put a unit making soap dispensers and perfume sprayers up for sale in a potential $1 billion deal, as it seeks to streamline its portfolio after a recent merger, sources told Reuters.
2 min read · 18 November 2016
Brookfield Asset Management has proposed to take a 50-60 percent stake in bankrupt solar company SunEdison Inc unit TerraForm Power Inc, a week after it expressed interest in buying the yieldco, Reuters reported. The cash offer of US$13 for class A and class B shares of TerraForm Power is nearly in line with the class A stock's Thursday close of US$13.01. The Canadian alternative-asset manager also said it was prepared to make an offer for SunEdison's other unit TerraForm Global Inc.
2 min read · 18 November 2016
French start-up Sigfox has raised 150 million euros ($160 million) to help build networks connecting everything from washing machines to smart meters to the internet, it said on Friday, confirming an earlier Reuters report.
1 min read · 18 November 2016
After tussling for years to win customers, the two biggest U.S. companies in fantasy sports, DraftKings and FanDuel, said on Friday they are teaming up in a merger that will cut down on legal bills and advertising spending.
2 min read · 18 November 2016
Congo state miner Gecamines said it is "strongly opposed" to a decision by Lundin Mining Corp to sell a 24 percent stake in the Tenke copper mine to a Chinese private equity firm, arguing it has a preemptive right to buy the stake, Reuters reported. Canada's Lundin announced this week it had agreed to sell its stake in the project in the Democratic Republic of Congo to BHR Partners for about US$1.14 billion in cash.
2 min read · 17 November 2016
