Ultra low cost carrier Spirit Airlines rejected JetBlue Airways Corp’s $33-per-share takeover offer, saying it had a low likelihood of winning approval from government regulators. Frontier (ULCC.O) and JetBlue...
UK official advised minister of risks in buying OneWeb stake
British officials voiced concerns about the government buying a $500 million stake in satellite company OneWeb this month, questioning whether it would deliver UK jobs and offer value for taxpayer’s money, according to...
RBI’s quashing of Lakshmi Vilas Bank merger fans contagion risks
The contagion risk from India’s year-old shadow banking crisis has suddenly turned much graver. What investors don’t know yet is whether the new problem is a $4 billion headache, a $16 billion migraine, or a life...
Essar insolvency ruling risks damage to India debt market
India’s insolvency tribunal has made a dangerous decision. Unless its judgment is quashed, credit costs for India Inc. will surge, shares of state-run banks will swoon and foreign investors will flee. The case concerns...
Clean energy firms eyeing SE Asia, Middle East & Africa to hedge risks
Clean energy companies are increasingly looking abroad to expand business and diversify risks even as some state utilities in the country are now backing out of contracts, threatening the viability of a number of...
Thyssenkrupp optimistic over Tata’s UK pension deal but merger risks remain
Germany’s ThyssenKrupp is optimistic about progress made by Tata Steel to restructure its UK pensions liabilities, investors and analysts say, but there are still issues to overcome before the two can merge their...
British political uncertainty risks slowing M&A, dealmakers say
The political shock of Prime Minister Theresa May’s failure to win a majority in a national election could put the brakes on takeover activity in Britain, dealmakers told Reuters on Monday. “So long as...
Merger risks
The Union cabinet has given its nod to the merger of State Bank of India and its five subsidiaries. This will create a behemoth that will be more than three times bigger than the largest Indian private sector bank and...
In M&A, ratings soft-pedal risks in borrowing binge
Mexico City: A decade after the triple-A failures of the subprime era, grade inflation is back on Wall Street. This time, Moody’s Investors Service and S&P Global Ratings Inc. are cutting companies slack on mergers...
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Tata Motors is planning to hive off its vehicle financing subsidiaries under Tata Motors Finance Ltd by way of a merger with Tata Capital, to streamline its operations and deleverage its balance sheet, said people in...
After Aditya Birla, Piramal to merge with private arm
After the Aditya Birla group, it’s now Piramal’s turn. Piramal Enterprises Ltd has decided to merge with its unlisted subsidiary Piramal Capital and Housing Finance Ltd, becoming the second financial institution to...
Energy producers Santos, Repsol explore sale of stakes in Alaska oilfields, sources say
Oil and gas producers Santos and Repsol are exploring a sale of a minority stake in oilfields in Alaska they jointly own and develop in a deal that could be worth about $1 billion, according to people familiar with the...