International Flavors & Fragrances agreed to sell its food ingredients business to CVC Capital Partners in a deal that values the unit at about $4.3 billion, as the flavor maker trims its portfolio to boost...
International News
Australia’s Dexus faces forced airport stake-sale process after court ruling
Australia’s Dexus AX said on Friday it faces a compulsory process to offer its 27% stake in the Melbourne and Launceston airports to existing shareholders, after a court upheld a notice tied to an attempted sale...
Yum Brands in exclusive talks to sell Pizza Hut to LongRange Capital, source says
Yum Brands is in exclusive talks to sell its Pizza Hut chain to private-equity firm LongRange Capital, a source familiar with the matter said on Friday. The two parties are advancing in discussions about a potential...
Universal Music Group declines Bill Ackman takeover proposal
Universal Music Group’s board on Friday unanimously rejected an unsolicited takeover proposal from Bill Ackman’s Pershing Square Capital Management, saying it was not in the best interests of shareholders...
MPS CEO says no merger talks with BPM, focus is on Mediobanca
Italy’s Monte dei Paschi di Siena (MPS) is focused on integrating recently acquired Mediobanca and is not holding merger talks with Banco BPM, CEO Luigi Lovaglio said on Friday. Italian media reported on...
Activist Voss Capital urges Sempra to spin off Texas electricity unit Oncor, letter says
Activist investor Voss Capital has urged Sempra to spin off its Oncor electricity unit, creating a high-growth Texas-focused utility unencumbered by the $60 billion energy giant’s predominant California...
Hospitality baron Fertitta expands leisure push with $18 billion Caesars buyout
Hospitality billionaire Tilman Fertitta’s firm will buy Caesars Entertainment in a $17.6 billion deal, the companies said on Thursday, expanding his leisure empire. The deal, which will take one of the Las Vegas...
MPS, Banco BPM discussed merger after Lovaglio reappointed, Italian news agency says
Italy’s Monte dei Paschi di Siena (MPS) and rival Banco BPM held talks about a long-mooted potential merger shortly after Luigi Lovaglio was reappointed as MPS CEO in April, Italian news agency Adnkronos...
Germany’s RWE mulls raising stake in Amprion, source says
RWE, Germany’s biggest power producer, is considering buying further shares in power network operator Amprion, a person familiar with the matter said. RWE currently holds a 25.1% stake in Germany’s second...
UK watchdog clears Suzano, Kimberly-Clark $3.4 billion joint venture
Britain’s competition watchdog said on Thursday it would not refer the proposed $3.4 billion joint venture between Brazilian pulp producer Suzano and consumer goods giant Kimberly-Clark for a Phase 2...
AkzoNobel rejects €12.5 billion Nippon Paint, Sherwin-Williams takeover offer
Dulux paint maker AkzoNobel struck down a €12.5 billion ($14.6 billion) cash takeover offer from rivals Nippon Paint and Sherwin-Williams on Wednesday, sending its shares 20% higher. The offer price of €73 per share...
Japan state-backed fund considering sale of chipmaking materials maker JSR, sources say
Japan Investment Corp (JIC), a state-backed fund, is considering selling JSR, two people familiar with the matter said, two years after it took the maker of chipmaking materials private in a $6 billion deal. Fujifilm...
