Magazine

Bid & Ask


Noteworthy expenditures of the week

1. "My trigger finger is itchy," Warren Buffett told investors in February. This month, Berkshire Hathaway (BRK.A) bagged Lubrizol (LZ), the world's largest producer of lubricant additives, in a $9 billion deal.

2. Spain's Iberdrola, the world's No. 1 wind-energy company, is selling a $2.8 billion stake to sovereign wealth fund Qatar Holding.

3. U.S. oil refiner Valero Energy (VLO) is paying $1.7 billion for Chevron's (CVX) Pembroke refinery in Wales, gaining its first European facility.

4. 99 cents Only Stores received a buyout offer of $1.3 billion from its founders and the private equity firm Leonard Green. Dollar stores have become takeover targets because they are luring shoppers away from traditional retail chains.

5. State-run Sberbank, Russia's largest lender, agreed to pay at least $1 billion for Troika Dialog to expand into investment banking.

6. Canada's White Tiger Gold offered $763 million for Century Mining, a Blaine (Wash.) company that has gold mines in Québec and Peru.

7. British oil major BP (BP) bought a controlling stake in Brazilian ethanol producer Companhia Nacional de Açúcar e Alcool, for $680 million.

8. Nippon Life Insurance will acquire a 26 percent stake in Reliance Life Insurance, for $679 million. Japan's No. 1 insurer by assets, Nippon wants to tap into the fast-growing Indian market.

9. Walt Disney's (DIS) new 3D animated feature, Mars Needs Moms, took in just $6.9 million during its North American premiere weekend, putting the film, which cost an estimated $150 million to make, in contention for the title of biggest movie flop of all time.

10. A double-barreled elephant gun that belonged to Ernest Hemingway fetched $339,250 at a firearms auction in Fairfield, Me.

Lindblad is an associate news editor for Bloomberg Businessweek.

Hollywood Goes YouTube
LIMITED-TIME OFFER SUBSCRIBE NOW

(enter your email)
(enter up to 5 email addresses, separated by commas)

Max 250 characters

 
blog comments powered by Disqus