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Tuesday, July 31, 2012

Deals Today

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07/31/2012

Reuters Election 2012 Daily round-up of the day's top news from the campaign trail, the White House and all the politics in between

Cemex to outsource jobs in biggest Mexican deal for IBM

MEXICO CITY (Reuters) - Mexico's top cement maker Cemex is outsourcing jobs worldwide to IBM in a deal that will help it save $1 billion over 10 years, the latest bid by the company to trim costs and boost its financial health.

Manchester United sets IPO terms

(Reuters) - English soccer team Manchester United set the terms for its U.S. initial public offering on Monday saying it will offer 16.67 million shares at between $16 and $20 each, which values the club at $3.3 billion at the top of the range.

Chicago Bridge to buy Shaw Group for $3 billion

(Reuters) - Chicago Bridge & Iron Co said on Monday it would buy Shaw Group Inc for about $3 billion in cash and stock to create a big engineering and construction company focused on the energy industry, but Shaw shares traded below the offer price, suggesting some investors worry the deal may not close.

Warburg Pincus enters into second China deal in a month

HONG KONG (Reuters) - Global buyout fund Warburg Pincus entered into its second China deal in a month after investing $55 million in a Chinese maternity, infant and kidswear retailer, in a sign of rising private equity investment activity in China.

U.S. lawmaker asks for conditions on CNOOC-Nexen deal

WASHINGTON (Reuters) - The U.S. government should block a bid by China's state-owned CNOOC for the U.S. assets of Canadian oil firm Nexen unless the merged company agrees to pay royalties on all oil drilled offshore, or spins off the properties, Representative Edward Markey said on Monday.

Rona rejects Lowe's $1.8 billion buyout offer

(Reuters) - Rona Inc , a Canadian home-improvement retailer, rejected Lowe's Cos Inc's unsolicited $1.8 billion takeover offer, saying it was not in the best interests of shareholders.

KKR takes a stake in Comstock's Eagle Ford shale oil venture

NEW YORK (Reuters) - Private equity firm KKR and Co LP agreed to pay up to around $200 million to take a one third stake in oil and gas company Comstock Resources' position in the Eagle Ford shale in south Texas.

Rio holds on to 51 percent stake in Ivanhoe

(Reuters) - Rio Tinto Plc said on Monday it paid about $935 million for 133.6 million shares of Ivanhoe Mines Ltd , or 51 percent of the stock the Canadian miner put up in a shareholder rights offering.