Philip Chua Business Blog

Posts Tagged ‘deal’

Some who lost money to Bernard Madoff had a custodian agreement with a bank. So far, they are worse off because of that deal.

The deal would be the second-largest upfront cash recovery from a company accused of backdating stock options, a plaintiff’s lawyer said.

IT HAS been reassuring to learn how the Singapore Exchange’s (SGX) Regulatory Conflicts Committee (RCC) reviews perceived and actual conflicts that could arise from the exchange’s status as a self-regulated organisation and its dual role as a listed company and a market regulator.
Among various things, the committee looked into how SGX handled the recent lapses at S-chips here and scrutinised deal… more

(SINGAPORE) It is far from business as usual for Asia-Pacific’s syndicated loan market – notwithstanding last month’s mega US$2.4 billion Noble deal.
Volumes are much lower than last year, according to Thomson Reuters LPC.Its data shows that this year, up to Nov 2, syndicated loan volumes for Asia-Pacific ex-Japan reached US$118 billion with 449 deals. In 2008, there were 811 deals amounting to US… more

DBS GROUP Holdings has pulled out of the race to buy ING’s private banking unit in Asia because it does not want to pay a premium for the business, sources say, while OCBC Bank has confirmed that it is still in the running.
DBS let its bid lapse and pulled out of the deal a few weeks ago, the sources add.
When contacted, a DBS spokesman said: ‘As a policy, we do not comment on market rumours and s… more

Reuters – Bruce Wasserstein, the legendary Wall Street deal maker identified with an era of no-holds-barred takeover battles, has died at the age of 61. His death leaves major questions about the future direction and leadership of Lazard Ltd., the investment bank he headed.

Reuters – Tengzhong, a little-known Chinese machinery maker that has agreed to buy GM’s Hummer brand, aims to close the deal by early 2010 and has begun to seek regulatory approval for the purchase.

Reuters – Koenigsegg’s chief executive said on Saturday the Swedish luxury sports car maker still aimed to finalize a deal to buy Saab Automobile from General Motors by the end of October.

By Jonathan Kwok & Fiona Chan

BAD FOR: COMPANIES THAT DEAL IN US DOLLARS
Companies like Armstrong Industrial, which receives a third of its payments in US dol… more

Reuters – U.S. health-care firm Johnson & Johnson is in talks to cut the price of a $1.5 billion deal with Irish drugmaker Elan Corp , a source familiar with the negotiations said on Sunday.