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Whole Foods Cannot Sow Wild Oats

FTC accuses crunchy granola types of monopoly grab

(Newser) - Even crunchy granola types may be monopolists at heart—at least according to the Federal Trade Commission.The FTC said yesterday it wants to block Whole Foods’ $670 million purchase of Wild Oats Markets, claiming that the sale will result in even higher-than-usual prices at the natural foods stores. More »

Dow Closes Down 80.86 on Inflation Scare

Bernanke comment, retail profit warnings contribute to slump

(Newser) - The Dow fell 80.86 points today, closing at 13,595.46 after companies in the retail sector issued warnings of reduced profits and Fed chairman Ben Bernanke commented that inflation risks are still high. "There are a lot of little things out there that are scaring the market,... More »

Murdoch Says He's Flexible, Up to a Point

Jousting over editorial independence may derail Dow Jones deal

(Newser) - Rupert Murdoch has renewed his vow to maintain the Wall Street Journal's editorial independence should his bid for Dow Jones succeed, but it's unlikely he'll allow the controlling Bancroft family to run an editorial oversight board. That sticking point could be a deal-breaker, the Journal reported hours before today's scheduled... More »

What Made the Bancrofts Buckle?

Key Dow Jones director switched sides, eyeing Reuters-Thomson merger

(Newser) - In a surprising about-face Dow Jones director and Bancroft family trustee Michael Elefante shifted from the cons to the pros, advocating putting the company in play at a recent family meeting. His change of position was behind the family's decision that it would meet with Rupert Murdoch and consider other... More »

Wachovia Nabs A.G. Edwards

Deal takes aim at small investors, creates country's No. 2 retail brokerage

(Newser) - Wachovia will buy A.G. Edwards for $6.8 billion, forming the nation's number two retail brokerage. Wachovia's $89.50 per share offer for the historic Midwest brokerage—it survived the crash of '29—helps the bank further expand its growing securities arm. The combined company will manage over $1... More »

Cantor Cuts Ties to eSpeed, BGC

Bond trading firm moves to settle conflict-of-interest complaints of investors

(Newser) - Cantor Fitzgerald, following conflict-of-interest complaints from investors, is planning to distance itself from the brokerage and online trading firms it controls. The deal will create a new company, a merger of eSpeed and BGC Partners.  More »

Tishman, Lehman Close REIT Deal

$13.5B offer for apartment giant marks major privatization

(Newser) - In a penthouse-level play, real estate developer Tishman Speyer Properties and investment bank Lehman Brothers will spend $13.5 billion to buy the nation's second-largest apartment owner. The $60.75 per share offer for real estate trust Archstone-Smith, confirmed this morning, will take the company private in a deal worth... More »

RBS Consortium Renews Bid for ABN Amro

$96B offer dwarfs Barclays proposal, but legal woes persist

(Newser) - Refusing to take no for an answer, a coalition led by Royal Bank of Scotland today submitted a renewed $95.6 billion bid for ABN Amro. The offer overshadows a competing $86 billion offer from Barclays, but legal wrangling over the sale of LaSalle Bank continues to bog down the... More »

Coke Takes Swig of Glacéau

Soft drink giant tries to boost its offerings with $4.1B VitaminWater buy

(Newser) - Coca-Cola is adding some fizz to its line of non-soda offerings, acquiring the maker of Glacéau VitaminWater today in its biggest purchase ever. The $4.1 billion purchase of Energy Brands will give Coke a strong foothold in the market for non-carbonated products and help it close the gap... More »

Sallie Mae Chief Quits

Equity firm pressured loan giant CEO to step down, ease buyout

(Newser) - The CEO of student loan giant Sallie Mae resigned unexpectedly yesterday in the midst of a $25 billion buyout by a private equity firm. The Wall Street Journal reports that Thomas J. Fitzpatrick was pressured out to stave off Congressional criticism of the buyout by J.C. Flowers and Co,... More »

Alcan Steels Itself Against Alcoa Bid

Canadian aluminum producer rejects US rival, says it will seek other offers

(Newser) - Canadian aluminum maker Alcan has rejected the $24.7-billion bid from rival Alcoa that would have been the biggest takeover in the metals industry, and signalled its intention to look elsewhere. Alcoa’s  $74.60-per-share bid was inadequate, Alcan’s CEO said today, reigniting rumors that both companies may be... More »

Burgeoning Saudi Firm Snags GE Plastics

$11.6B deal is Gulf region's biggest ever

(Newser) - A Saudi chemical company will take over General Electric's plastics division in a deal worth $11.6 billion, the companies said today. Saudi Basic Industries Corp., or Sabic, beat out Dutch-owned Basell for GE Plastics, which was put up for sale in January. The purchase, the largest ever by a... More »

Rome Deal Creates World's 5th-Largest Bank

(Newser) - Italian lenders UniCredit and Capitalia yesterday inked a $29.7 billion deal to create a bank with the world's fifth (and Europe's second) largest market cap. The hurried Rome merger indicates, according to the Wall Street Journal, a rush to consolidate Europe's banking sector, but also the persistent challenges to... More »

XM Fans Irate at Shock Jock Suspension

Opie & Anthony, kicked off airwaves, now in trouble on satellite

(Newser) - Fans of "The Opie & Anthony Show" cancelled their satellite radio subscriptions by the hundreds after XM slapped the shock-jock duo with a 30-day suspension earlier this week. Subscribers are accusing the station—which promises uncensored content—of pandering to the FCC so they won't block a pending merger... More »

Blackstone Makes $7.8B Deal for Alliance

Private equity continues to pour into financial processing

(Newser) - Blackstone has snapped up credit card services provider Alliance Data for $7.8 billion, joining a surge of private equity into dull but profitable back-office firms. The 30% above-market offer for Alliance, which also runs a data processing unit, is the latest in a wave of takeovers in the financial-processing... More »

Reuters, Thomson Seal the Deal

(Newser) - Reuters and Thomson have settled on the terms of the $17.24 billion merger announced last week, sounding the starting bell for a longer-than-usual regulatory review, the Journal reports. Reuters head Tom Glocer will become CEO of the new Thomson-Reuters, which combines the second- and third-largest providers of financial data... More »

KKR Dominates in '07 Buyouts

With 44% of this year's private equity deals, is firm spending too much too fast?

(Newser) - Private equity powerhouse KKR has been on a monumental spending spree this year, closing more than $120 billion in deals to date in 2007—more than twice its closest rival. Now the Financial Times wonders whether the veteran PE firm it may be hitting the market too forcefully. More »

Thomson Confirms Merger Deal

Proposed purchase of Reuters puts Bloomberg on notice

(Newser) - Financial data giants Reuters and Thomson have confirmed that a merger is in the works. Should the deal go through, the company will control 34 percent of the financial data market, to current leader Bloomberg's 33 percent. Reuters CEO Tom Glocer would head the new Thomson-Reuters, which would remain under... More »

Aluminum Giant Makes Play for Rival

Alcoa's $26.9 hostile takeover bid for Alcan comes after years of merger talks

(Newser) - Aluminum titan Alcoa is hoping to get its largest rival, Alcan, to melt under a hostile takeover bid, after merger talks between the two companies collapsed. Alcoa, the world's largest aluminum company, has offered $26.9 billion for its Canadian competitor in an effort to beat out the emerging market... More »

Reuters Takeover Rumors Fly

(Newser) - Reuters is being wooed by a buyer, though the British information service is steadfastly mum on its suitor's identity. The WSJ predicts one of two outcomes: an intra-industry move from Canadian publishing powerhouse Thomson, or a swoop in by private equity, aimed at profiting off the company's steady cash flow. More »

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