Markets & Finance
Bid & Ask: The Deals of the Week
1. U.S. cable company Comcast (CMCSA) authorized a $6.5 billion stock buyback after fourth-quarter profit rose more than analysts estimated.
3. China Guangdong Nuclear Power Group bid $2.4 billion for Australia’s Extract Resources (EXT:AU), as it seeks new uranium supplies to feed rising demand for atomic power.
4. Paris-based France Télécom may spend about $2 billion to buy most of billionaire Naguib Sawiris’s stake in their Egyptian wireless venture, Mobinil, Egypt’s No. 1 phone operator by revenue.
5. California’s ratings outlook was revised to positive from stable by Standard & Poor’s (MHP) as the indebted state plans to sell about $2 billion of general-obligation bonds on Mar. 1.
6. Japan’s Glory will bid $1 billion for Britain’s Talaris Topco to expand in the overseas market for automated teller and other money-handling machines.
7. The company that controls Manhattan’s Empire State Building plans to raise as much as $1 billion in an IPO, offering investors a chance to buy a share of the 102-story landmark skyscraper.
8. The private equity owners of Denmark’s No. 1 phone company, TDC, including Blackstone Group (BX) and Apax Partners, raised about $982 million in a share sale, say three people with knowledge of the transaction.
9. Shipping billionaire John Fredriksen paid about $610 million for six oil-product tankers and two ships for hauling liquefied gas, and indicated he may make more purchases this year.
10. The 1963 Francis Bacon canvas Portrait of Henrietta Moraes fetched $33.3 million at Christie’s, beating a pre-auction estimate of $28 million.