Deals of the Day: Groupon Investors Say Uncle By Stephen Grocer Deals of the Day compiles this morning’s biggest news about mergers and acquisitions, banking, bankruptcy and more. Catch us on Twitter, @WSJDealJournal.
Mergers Acquisitions Aetna to Acquire Coventry Health Care: Health-care giant Aetna said it has struck a deal to buy Coventry Health Care Inc. CVH +19.03% for $5.7 billion in cash and stock, a move that will make Aetna one of the largest providers of government-financed health care. [WSJ] Kinder Morgan Divests Some Assets: Kinder Morgan Energy Partners agreed to sell certain assets to Tallgrass Energy Partners for about $1.8 billion, divestitures required in an agreement with U.S. government regulators related to Kinder Morgan’s recent acquisition of El Paso Corp. [WSJ] Chevron, Shell Swap Natural-Gas Assets: Chevron and Shell are swapping stakes in two multibillion-dollar natural-gas projects in Australia, betting on Asia’s growing energy demand even as competition from Africa and North America looms. [WSJ] Asia Pacific Breweries: Heineken’s sweetened offer of $6.35 billion to take control of the maker of Tiger Beer throws the spotlight back onto the Thai suitor that launched the beer battle last month. [Reuters] Prudential Financial-Hartford: Prudential Financial, seeking to put to use excess capital it has amassed in recent years, is in talks to acquire a life-insurance business from Hartford Financial. [WSJ] European shopping spree: As European banks retrench to recover from the global financial meltdown, they are finding ready buyers in Asia for everything from loans to entire insurance and broking operations. [Reuters] The Groupon Income System You Too Can The Groupon Income System You Too Can Exploit A Multi-million Dollar Groupon...
Financial Institutions J.P. Morgan Picks ‘Whale’ Probe Leader: J.P. Morgan tapped former Exxon CEO Lee Raymond to head the board investigation of the “London Whale” trading fiasco and James Dimon’s role in the trading blunder. [WSJ] CME to Launch Europe Exchange: The Chicago Mercantile Exchange Group plans to establish a European derivatives exchange and will submit its license application to the U.K.’s
Financial Services Authority “within days.” [WSJ]
Legal Regulatory SEC Delays Rules On Advertising: U.S. regulators are delaying rules that would allow hedge funds and other firms to solicit investors more broadly, a win for advocates who said hasty changes to solicitation rules could increase fraud. [WSJ]
Capital Markets IPO Pricing Got Tougher Over Summer: The end of the summer was a mixed bag for the U.S. IPO market, with deal flow improving but new stock pricing becoming tougher. [WSJ] Best Buys Names Joly as New CEO: Best Buy hired Carlson’s Hubert Joly as CEO as it deals with falling sales and a buyout plan from its founder and largest holder. [WSJ]
Companies Industries Groupon Investors Give Up: Some of Groupon’s early backers, including Marc Andreessen, are heading for the exits, joining investors who have lost faith in companies that had been expected to drive a new Internet boom. [WSJ]
Deals of the Day: Groupon Investors Say Uncle
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