Bid & Ask
Bid & Ask: The Deals of the Week
2. Canadian home-improvement retailer RONA (RON:CN) spurned a $1.8 billion takeover offer from Lowe’s (LOW). RONA’s stock had a record one-day gain, a sign that investors anticipate a bidding war for the company.
3. Roper Industries (ROP) will pay $1.4 billion for Sunquest Information Systems, making the health-care software firm its largest acquisition in at least 17 years.
5. Toyota Tsusho, the trading company affiliated with the automaker, agreed to pay $845 million to become the majority shareholder in French car distributor CFAO (CFAO:FP).
6. Billionaire Carl Icahn will sell back his $590 million stake in MGM Holdings as it prepares to go public.
7. Swiss trading company Prominvest edged out India’s Aditya Birla Group in bidding for Northern Iron (NFE:AU), offering $550 million for the Australian miner.
9. Manchester United, the English soccer club that claims more than 650 million fans, plans to raise as much as $333 million in a U.S. initial public offering. The club is expected to pay down debt with the proceeds.
10. The original cover art for issue 328 of The Amazing Spider-Man sold for $657,250 at a Beverly Hills event held by Heritage Auctions. It was the highest auction price ever for a piece of American comic book art.