Abbott Laboratories (ABT.N) said it would buy St. Jude Medical Inc (STJ.N) for $25 billion to expand its heart device business as it competes with larger rivals Medtronic Plc (MDT.N) and Boston Scientific Corp (BSX.N).
2 min read · 28 April 2016
SAN FRANCISCO — Uber's proposed settlement of a high-profile class-action lawsuit last week has drawn opposition from some drivers and other concerned parties as the ride-hailing service seeks to avoid reclassifying drivers as employees.
3 min read · 28 April 2016
European tourism group TUI has agreed a deal to sell its Hotelbeds unit to private equity group Cinven and Canada Pension Plan Investment Board for 1.191 billion euros (US$1.35 billion) in cash, Reuters reported. TUI put its Hotelbeds unit, which sells hotels rooms to wholesale customers such as travel agencies and tour operators, up for sale because it didn't fit with its other tour operating, cruise and hotel businesses. The deal, expected to close in September, will see U.K.-based Cinven and CPPIB acquire equal stakes in the company.
2 min read · 28 April 2016
European private equity firm Cinven Ltd is set to complete fundraising of its latest fund at 7 billion euros ($7.9 billion), sources said, underscoring robust fundraising across the buyout sector even as financial markets remain jittery, Reuters News reported.
1 min read · 28 April 2016
British private-equity firm 3i Group Plc said on Thursday it would sell its Mayborn Group unit to Chinese chemical products maker Shanghai Jahwa United Co , Reuters News reported.
1 min read · 28 April 2016
Vale SA (VALE5.SA) is considering spinning off its fertilizer assets into a joint venture controlled by Apollo Global Management LLC (APO.N) if they succeed in a joint bid for Anglo American Plc's fertilizer operations in Brazil, three sources with direct knowledge of the plan told Reuters on Wednesday.
5 min read · 28 April 2016
Hollywood movie studio DreamWorks Animation SKG Inc has been exploring a sale with advice from boutique investment bank Centerview Partners Holdings LLC, Reuters News reported.
2 min read · 28 April 2016
Private equity firm Carlyle Group LP bucked its sector's trend on Wednesday by posting first-quarter earnings that beat market forecasts, even as it reported a drop in the assets managed by the firm that also set it apart from its peers, Reuters News reported.
2 min read · 27 April 2016
Canadian non-resource exports should post healthy gains this year, the country's trade financing agency said on Monday, a development the central bank is counting on to help revive an economy hobbled by weak global energy prices, Reuters reported. Export Development Canada predicted the consumer goods, automotive and aerospace sectors would post double-digit growth in 2016 on the back of a robust U.S. economy. Industrial machinery exports should advance by 7 percent, it said.
2 min read · 27 April 2016
Pacific Exploration & Production Corp and its units filed for protection from creditors in Canada after failing to cope with a prolonged slump in oil prices, Reuters reported. The Toronto-based company, formerly known as Pacific Rubiales Energy Corp, said it had filed for creditor protection under the Companies' Creditors Arrangement Act, an insolvency law that allows businesses to restructure their finances and stay in business. Pacific Exploration reached a deal with debt-holders, including Canadian private equity firm Catalyst Capital Group, last week to convert almost all of its debt to equity.
2 min read · 27 April 2016
