Canadian financial technology startup Lending Loop said this week it was re-launching its online lending marketplace after receiving regulator approval to sell investment opportunities to lenders regardless of their wealth, Reuters reported. The approval, which follows a rival company's green light last month, suggests Canadian regulators are coming to terms with the peer-to-peer lending model, which is already popular in the United States, Europe and elsewhere.
2 min read · 24 October 2016
U.S. oil refiner HollyFrontier Corp is in advanced talks to acquire Suncor Energy Inc's Petro-Canada lubricants division for a little over US$1 billion, after submitting the highest bid in an auction, sources told Reuters. The potential deal would give Canada's Suncor a cash boost with which to pay down debt incurred as a result of recent acquisitions. The auction for the Petro-Canada lubricants business attracted other companies and private equity firms, the sources said.
2 min read · 24 October 2016
Asian brewers Asahi Group (2502.T) and China Resources (0291.HK) and a consortium of KKR (KKR.N) and Mid Europa Partners are among several parties preparing bids for a group of beer brands being sold by Anheuser-Busch InBev (ABI.BR), sources told Reuters.
2 min read · 24 October 2016
Dick's Sporting Goods Inc, teamed up with liquidators, won a bankruptcy auction on Friday for the U.S. business of Golfsmith International Holdings Inc with a bid of about US$70 million, sources told Reuters. Dick's plans to keep open at least 30 Golfsmith stores and wind down the rest with liquidators from Hilco Global and Tiger Capital Group, the sources said. Golfsmith, which recently filed for bankruptcy in the United States and Canada, has been backed by OMERS Private Equity since 2007.
2 min read · 24 October 2016
Berkshire Partners LLC is nearing a deal to acquire cloud networking firm Masergy, currently owned by another private equity firm, ABRY Partners, for more than $900 million, including debt, sources told Reuters.
1 min read · 24 October 2016
TD Ameritrade Holding Corp (AMTD.O) said on Monday it and Toronto-Dominion Bank (TD.TO) would buy privately held Scottrade Financial Services Inc in a deal valued at $4 billion, combining two of the biggest U.S. discount brokerages, Reuters reported.
1 min read · 24 October 2016
British American Tobacco (BATS.L) has offered to buy out U.S. cigarette maker Reynolds American Inc (RAI.N) in a $47 billion takeover that would create the world's biggest listed tobacco company with brands including Newport, Lucky Strike and Pall Mall, Reuters reported.
5 min read · 21 October 2016
Financier Lynn Tilton is set to go on trial next week before an administrative law judge on U.S. Securities and Exchange Commission charges she defrauded investors by hiding the poor performance of assets underlying three $2.5 billion debt funds, Reuters reported.
2 min read · 21 October 2016
Altice USA, the cable operator that Netherlands-based Altice NV put together by acquiring Cablevision and Suddenlink Communications, is drawing up plans for a potential initial public offering, sources told Reuters. The move would allow Altice's founder, French billionaire Patrick Drahi, to expand his budding U.S. cable empire by giving Altice USA public stock it can use to help finance more acquisitions. Taking Altice USA public would also allow investors BC Partners and Canada Pension Plan Investment Board to cash out in the future.
2 min read · 21 October 2016
Altice USA, the cable operator that Netherlands-based Altice NV (ATCA.AS) put together by acquiring Cablevision and Suddenlink Communications, is drawing up plans for a potential initial public offering, sources told Reuters.
2 min read · 21 October 2016
