Markets & Finance

Bid & Ask: The Deals of the Week


1. Billionaire investor Carl Icahn, campaigning to oust the the board of Clorox (CLX) and put the company up for sale, says he would pay $10.3 billion for it if no other buyer emerged.

2. Bank of America (BAC) is selling about half its stake in China Construction Bank for $8.3 billion, booking a $3.3 billion gain and bolstering capital ahead of new international standards.

3. Australia’s Macarthur Coal agreed to be bought by ArcelorMittal (MT), the world’s No. 1 steelmaker, and Peabody Energy (BTU) after they sweetened their offer to $5.2 billion, from about $4.1 billion.

4. Chinese machinery maker Sany Heavy Industry aims to start trading in Hong Kong in early October after a $3 billion share sale, say two people with knowledge of the matter.

5. AuRico Gold (AUQ), which mines the precious metal in Mexico, will pay $1.5 billion for Northgate Minerals (NXG) to add production in Canada and Australia.

6. Greece’s No. 3 lender, Alpha Bank, is buying No. 2 EFG Eurobank Ergasias for stocks valued at about $1.1 billion, as it copes with the country’s deep recession and sovereign debt crisis.

7. Seamless-steel-pipe maker Tenaris (TS) plans to acquire the outstanding shares in its Brazilian Confab Industrial unit that it doesn’t already own for about $780 million.

8. Cameco (CCJ), Canada’s largest uranium producer, bid $529 million for Vancouver (B.C.)-based Hathor Exploration to acquire the company’s Roughrider deposit in Saskatchewan.

9. Malaysia-based holding company Sime Darby agreed to buy 30 percent of property developer Eastern & Oriental for $257 million.

10. Sina (SINA), owner of China’s third most popular website, paid $66.4 million for a stake in Shanghai-based Tudou Holdings to boost its investments in online video services.

Cwinter
Winter is a reporter for Bloomberg Businessweek in New York.

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Companies Mentioned

  • CLX
    (Clorox Co/The)
    • $103.82 USD
    • 1.82
    • 1.75%
  • BAC
    (Bank of America Corp)
    • $17.53 USD
    • 0.27
    • 1.54%
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