Markets & Finance

Bid & Ask: The Deals of the Week

1. The Department of the Treasury plans to sell $5.8 billion of shares in American International Group (AIG) at $30.50 each, with the bailed-out insurer buying $2 billion of the total.

2. Dutch phone company Royal KPN (KPN:NA) rejected an unsolicited $3.4 billion bid from Carlos Slim’s América Móvil (AMX) and hired Goldman Sachs Group (GS) and JPMorgan Chase (JPM) as advisers.

3. Billionaire Carl Icahn won the right to buy oil refiner CVR Energy (CVI) after a majority of shareholders accepted his $30-a-share tender offer, which values the company at $2.6 billion.

4. London-based GlaxoSmithKline (GSK) is making a hostile $2.6 billion offer for Human Genome Sciences, its partner in developing the Benlysta drug for lupus. The company had rebuffed Glaxo’s offer in April.

5. Billionaire Li Ka-shing’s Hutchison Whampoa (13:HK) bid $2.6 billion for Irish phone company Eircom Group.

6. Amid a seven-year decline in Japanese beer consumption, Asahi Group (2502:JP), the country’s largest brewer by volume, will pay $1.5 billion for milk drink producer Calpis.

7. Houston-based Marathon Oil (MRO) will acquire Paloma Partners II, a closely held oil exploration and production company, for $750 million.

8. Penn National Gaming, the operator of 26 casinos and racetracks, will purchase Harrah’s St. Louis casino hotel from Caesars Entertainment (CZR) for $610 million.

9. New Jersey-based Bed Bath & Beyond (BBBY) is buying Cost Plus World Market for about $495 million to add about 259 stores operating under the World Market and other names.

10. Mark Rothko’s fiery 1961 canvas, Orange, Red, Yellow, fetched a record $86.9 million at Christie’s in New York, surging well beyond a $45 million pre-sale estimate.

Clockwise from top: Photographs by Scott Eells/Bloomberg; Koichi Kamoshida/Bloomberg; Christie's/Bloomberg; David Paul Morris/Bloomberg; Aidan Crawley/Bloomberg
Winter is a reporter for Bloomberg Businessweek in New York.

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