Monday, March 25, 2013

Reuters: Regulatory News: UPDATE 1-Market Chatter-Corporate finance press digest

Reuters: Regulatory News
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UPDATE 1-Market Chatter-Corporate finance press digest
Mar 25th 2013, 06:11

Mon Mar 25, 2013 2:11am EDT

March 25 (Reuters) - The following corporate finance-related stories were reported by media on Monday:

* A special committee of Dell Inc's board is evaluating separate takeover proposals from Blackstone Group LP and billionaire investor Carl Icahn to decide whether either or both are likely to trump an existing $24.4 billion take-private deal, a source familiar with the discussions said on Sunday.

* Cyprus's president and the European Union have agreed the outlines of a rescue deal that would see the creation of a "good bank" and a "bad bank" and include the shutting down of Cyprus's second largest lender, EU sources said.

* UBS AG is in talks with the U.S. Securities and Exchange Commission to settle allegations the bank defrauded investors in a mortgage bond deal that soured during the financial crisis, the Wall Street Journal reported, citing people familiar with the matter.

* China Petroleum & Chemical Corp agreed to form a joint venture that will acquire $3 billion in oil and gas assets held by its state-owned parent in countries including Kazakhstan, Colombia and Russia, the Wall Street Journal reported. ()

* Apple Inc has acquired the indoor-GPS company WifiSLAM for about $20 million, a sign that a war over indoor mobile-location services is heating up, the Wall Street Journal reported. ()

* The Spanish government will impose heavy losses on investors at nationalized banks and hire external advisers to help it manage these banks' assets, its latest efforts to overhaul a financial sector battered by the collapse of a decadelong housing boom, the Wall Street Journal reported. ()

* German steelmaker ThyssenKrupp AG was surprised by the low value of bids for its Cia Siderurgica do Atlantico mill in Brazil and is seeking talks with bidders to raise the offer prices, the Agencia Estado news agency reported Saturday.

* Deutsche Bank AG co-Chief Executive Anshu Jain requested a pay cut of almost 2 million euros ($2.60 million) to draw level with the 2012 compensation package of fellow top executive Juergen Fitschen, a German newspaper reported.

* Blockbuster's chain of film and computer game rental shops in Britain has been sold to Gordon Brothers Europe for an undisclosed sum, two months after the struggling retailer went into a form of bankruptcy protection, the Financial Times reported. ()

* Deutsche Bank AG has priced its three-year China yuan bond in Taiwan at a 2.3 percent yield, two sources with close knowledge of the matter said on Monday.

* Brazilian billionaire Eike Batista needs partners to help fund the expansion of his EBX Group, a situation that could lead him to cut his stake in EBX companies by more than half, fellow billionaire Andre Esteves told the Estado de S. Paulo newspaper.

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