Streaming video site Hulu has attracted three offers of over $1 billion from suitors including a partnership of AT&T Inc and Chernin Group, the Wall Street Journal reported, citing people familiar with the matter. The three highest bidders also include DirecTV and Guggenheim Digital Media which is jointly bidding with private equity firm KKR & CO LLP, the Journal said. ().The deal could be sealed in a week or two after the deadline for bids ends this week, it added.Hulu, which was created in 2007, says on its website that it has more than 3 million subscribers paying $7.99 a month for its premium service, and that it generated revenues of about $700 million last year. It sells advertising for its free service.AT&T could benefit from Hulu's mobile video and streaming video services, the financial daily said citing analysts.
AT&T Inc. (AT&T) is a holding company. AT&T is a provider of telecommunications services in the United States and worldwide. Shares of T traded higher by 0.57% or $0.2/share to $35.58. In the past year, the shares have traded as low as $32.71 and as high as $39.00. On average, 25558800 shares of T exchange hands on a given day and today's volume is recorded at 15854607.
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Monday, July 8, 2013
TPG in final bidding for Canada's MacDon -sources, (NYSE: GS)
TPG Capital LP is one of the final bidders for MacDon Industries Ltd, a manufacturer of agricultural machinery looking to sell itself for around $1 billion, three people familiar with the matter said on Monday. The private equity firm is working on making a binding bid for MacDon by the mid-July deadline for final offers, the people said, asking not to be identified because the sale process is not public.Other parties, including takeover firm Berkshire Partners LLC and an industry player, have also been evaluating potential offers for MacDon, although it remains uncertain whether a competing offer will materialize, some of the people added.Representatives for MacDon, TPG and Berkshire Partners did not respond to requests for comment.Reuters reported in April that Winnipeg, Manitoba-based MacDon has enlisted Goldman Sachs Group Inc to find a buyer. The company makes machinery used to harvest various agricultural products such as cereal grains, oilseeds, rice and soybeans.
The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.37% or $0.57/share to $153.81. In the past year, the shares have traded as low as $91.15 and as high as $168.20. On average, 3790490 shares of GS exchange hands on a given day and today's volume is recorded at 2700264.
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The Goldman Sachs Group, Inc. (Goldman Sachs), is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.37% or $0.57/share to $153.81. In the past year, the shares have traded as low as $91.15 and as high as $168.20. On average, 3790490 shares of GS exchange hands on a given day and today's volume is recorded at 2700264.
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Deals of the day -- mergers and acquisitions, (NASDAQ: DELL)
The following bids, mergers, acquisitions and disposals were reported by 2000 GMT on Monday:** Shareholder advisory firm ISS recommended Dell Inc shareholders vote in favor a $24.4 billion takeover offer for the PC maker from founder and Chief Executive Michael Dell, increasing the odds that his bid will succeed.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 3.11% or $0.405/share to $13.44. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 49741320.
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Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 3.11% or $0.405/share to $13.44. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 49741320.
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Top advisory firm backs Dell CEO's offer for PC maker, (NASDAQ: DELL)
The largest U.S. shareholder advisory firm recommended on Monday that Dell Inc stockholders vote in favor of Chief Executive Michael Dell's $24.4 billion takeover offer, increasing the odds of his prevailing against billionaire investor Carl Icahn's rival bid.Dell shareholders are scheduled to vote on the offer July 18. Several large investors have been pushing for improved terms."The ISS seal of approval makes the Silver Lake/Michael Dell deal more likely to receive shareholder approval," Brian White, analyst at Topeka Capital Markets said, adding that ISS views Icahn's bid "as coming with too much uncertainty."Institutional Shareholder Services Inc is the biggest shareholder advisory firm, and its recommendations can sway investors looking for direction.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 2.99% or $0.39/share to $13.42. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 36288240.
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Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 2.99% or $0.39/share to $13.42. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 36288240.
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Jones Group hires Citi to explore sale of company -sources, (NYSE: JNY)
Jones Group Inc, the fashion company that owns retail chains Nine West and Jones New York, has hired Citigroup to explore a potential sale of the company, according to three sources familiar with the matter. Jones Group, which has a market capitalization of $1.2 billion, is in the early stages of reaching out to private equity and industry players to gauge interest in buying the company as a whole or in pieces, the sources said.Jones Group could not be reached for comment. Citigroup declined to comment. The sources declined to be named because the matter is not public.In May, activist hedge fund firm Barington Capital Group's James Mitarotonda joined the board of Jones. Barington had urged Jones to focus on its shoe brands and to pare down its noncore fashion brands.
The Jones Group Inc. (Jones) is a global designer, marketer and wholesaler of over 35 brands with products in apparel, footwear, jeanswear, jewelry and handbags. Shares of JNY traded higher by 7.99% or $1.17/share to $15.81. In the past year, the shares have traded as low as $9.54 and as high as $15.25. On average, 880270 shares of JNY exchange hands on a given day and today's volume is recorded at 1611939.
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The Jones Group Inc. (Jones) is a global designer, marketer and wholesaler of over 35 brands with products in apparel, footwear, jeanswear, jewelry and handbags. Shares of JNY traded higher by 7.99% or $1.17/share to $15.81. In the past year, the shares have traded as low as $9.54 and as high as $15.25. On average, 880270 shares of JNY exchange hands on a given day and today's volume is recorded at 1611939.
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EMC's RSA division acquires Aveksa as it expands cloud services, (NYSE: CRM), (NYSE: WDAY)
EMC Corp's RSA security division said it had acquired Aveksa Inc, a provider of cloud-based services that businesses use to verify the identity people accessing corporate networks and Web-based software. RSA Executive Chairman Art Coviello told Reuters on Monday that his company would combine some existing products with those of Aveksa to offer a single Web-based "cloud platform" to prevent outsiders from breaking into networks.RSA will offer a cloud-based version of its SecurID service, which requires computer users to enter unique codes every time they log into a network, Coviello said.Aveksa's technology enables companies to verify the identity of people accessing accounts of Web-based software programs from companies such as Salesforce.com Inc and Workday Inc , Coviello said.The companies did not disclose terms of the deal, but they said RSA would have more than 3,000 employees after adding Aveksa's 188 workers. This is RSA's fifth acquisition since 2010.
Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. Shares of CRM fell by 0.05% or $-0.02/share to $38.92. In the past year, the shares have traded as low as $30.04 and as high as $47.58. On average, 6916270 shares of CRM exchange hands on a given day and today's volume is recorded at 1037793.
Workday, Inc. is a provider of enterprise cloud-based applications for human capital management (HCM), payroll, financial management, time tracking, procurement and employee expense management. Shares of WDAY fell by 1.21% or $-0.79/share to $64.72. In the past year, the shares have traded as low as $45.05 and as high as $69.75. On average, 1327400 shares of WDAY exchange hands on a given day and today's volume is recorded at 205349.
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Salesforce.com, inc., is a provider of enterprise cloud computing and social enterprise solutions. Shares of CRM fell by 0.05% or $-0.02/share to $38.92. In the past year, the shares have traded as low as $30.04 and as high as $47.58. On average, 6916270 shares of CRM exchange hands on a given day and today's volume is recorded at 1037793.
Workday, Inc. is a provider of enterprise cloud-based applications for human capital management (HCM), payroll, financial management, time tracking, procurement and employee expense management. Shares of WDAY fell by 1.21% or $-0.79/share to $64.72. In the past year, the shares have traded as low as $45.05 and as high as $69.75. On average, 1327400 shares of WDAY exchange hands on a given day and today's volume is recorded at 205349.
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Advisory firm ISS backs Michael Dell's offer for PC maker, (NASDAQ: DELL)
Shareholder advisory firm ISS recommended Dell Inc shareholders vote in favor a $24.4 billion takeover offer for the PC maker from founder and Chief Executive Michael Dell, increasing the odds that his bid will succeed.Dell shareholders are scheduled to vote on the offer July 18.Michael Dell, whose offer is backed by equity financing from buyout firm Silver Lake, does not plan to raise the $13.65 per share bid, people familiar with the matter said last week.Several large investors have been pushing for improved terms.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 2.3% or $0.3/share to $13.33. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 19172700.
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Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL traded higher by 2.3% or $0.3/share to $13.33. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 19172700.
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Deals of the day -- mergers and acquisitions, (NASDAQ: FISI)
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday: ** Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to purchase as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group , Sky News reported.** Singapore state investor Temasek has not approached the British government about buying a 4.5 billion pound ($6.70 billion) stake in part-nationalised Lloyds Banking Group, industry sources told Reuters on Sunday.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $20.83. In the past year, the shares have traded as low as $16.50 and as high as $20.93. On average, 26527 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $20.83. In the past year, the shares have traded as low as $16.50 and as high as $20.93. On average, 26527 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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Proxy firm ISS backs Michael Dell's offer for PC maker, (NASDAQ: DELL)
Investment advisory firm ISS has recommended Dell Inc shareholders vote in favor a $24.4 billion offer for the PC maker from founder and Chief Executive Michael Dell, the company's special committee said on Monday.Michael Dell, whose offer is backed by equity financing from takeover firm Silver Lake, does not plan to raise the $13.65 per share bid, people familiar with the matter said last week.Billionaire Carl Icahn and Southeastern Asset Management have made a rival bid that would see shareholders tender 1.1 billion shares at $14 each.ISS said Michael Dell's offer "transfers the risk of the deteriorating PC business and the company's ongoing business transformation to the buyout group."
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL remained unchanged at $13.03. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 6123044.
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Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL remained unchanged at $13.03. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 6123044.
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Majority of Sprint shares vote to receive cash in merger, (NASDAQ: DISH), (NYSE: S)
The majority of Sprint Nextel Corp shares elected to receive cash when Japan's SoftBank Corp's takes control of the company. About 53 percent of Sprint's outstanding shares voted to take money in a July 5 preliminary election over the merger, Sprint and SoftBank said on Monday.Shareholders that elected to take cash will receive $5.65 in cash and 0.26174408 shares of new Sprint common for each common share owned.About 3 percent of shares elected to receive shares of Sprint common stock, while 44 percent of outstanding shares that did not vote will receive cash.The voting is one of the final steps in a long, drawn out battle between SoftBank and Dish Network Corp over the No. 3 U.S. mobile telephone provider.
DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH remained unchanged at $42.98. In the past year, the shares have traded as low as $26.12 and as high as $43.43. On average, 3105640 shares of DISH exchange hands on a given day and today's volume is recorded at 0.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 4996.
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DISH Network Corporation is a pay-television (TV) provider, with approximately 13. Shares of DISH remained unchanged at $42.98. In the past year, the shares have traded as low as $26.12 and as high as $43.43. On average, 3105640 shares of DISH exchange hands on a given day and today's volume is recorded at 0.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 4996.
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Proxy firm ISS recommends Michael Dell's offer for PC maker, (NASDAQ: DELL)
Investment advisory firm ISS has recommended Dell Inc shareholders vote for founder and Chief Executive Michael Dell's $24.4 billion offer for the PC maker, the company's special committee said. Michael Dell, whose offer is backed by equity financing from takeover firm Silver Lake, have ruled out raising their $13.65 per share bid, people familiar with the matter said last week.Billionaire Carl Icahn and Southeastern Asset Management have offered a rival bid that would see shareholders tender 1.1 billion shares at $14 apiece.Dell's shares were up 2.3 percent in premarket trading on Monday. They closed at $13.30 on Friday on the Nasdaq.
Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL remained unchanged at $13.03. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 943440.
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Dell, Inc. (Dell) is a global information technology company that offers its customers a range of solutions and services delivered directly by Dell and through other distribution channels. Shares of DELL remained unchanged at $13.03. In the past year, the shares have traded as low as $8.69 and as high as $14.64. On average, 20583300 shares of DELL exchange hands on a given day and today's volume is recorded at 943440.
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Japan's SoftBank says expects to complete Sprint deal on July 10, (NYSE: S)
Japan's SoftBank Corp said on Monday that it expects to complete its $21.6 billion acquisition of U.S. wireless carrier Sprint Nextel Corp on Wednesday, July 10. SoftBank and Sprint received final regulatory approval for their deal from the Federal Communications Commission last week.The Japanese company said it expects the deal to close on Wednesday, U.S. Eastern Standard Time.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 500.
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Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S remained unchanged at $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 500.
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Deals of the day -- mergers and acquisitions, (NASDAQ: FISI)
The following bids, mergers, acquisitions and disposals were reported by 1000 GMT on Monday: ** Former Standard Chartered chief executive Mervyn Davies is forming a consortium of sovereign wealth funds and financial institutions to purchase as much as half of Britain's 20 billion pound ($29.77 billion) stake in Lloyds Banking Group , Sky News reported.** Singapore state investor Temasek has not approached the British government about buying a 4.5 billion pound ($6.70 billion) stake in part-nationalised Lloyds Banking Group, industry sources told Reuters on Sunday.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $20.83. In the past year, the shares have traded as low as $16.50 and as high as $20.93. On average, 26527 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI remained unchanged at $20.83. In the past year, the shares have traded as low as $16.50 and as high as $20.93. On average, 26527 shares of FISI exchange hands on a given day and today's volume is recorded at 0.
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S&P downgrades SoftBank to 'junk' status, shares slide, (NYSE: S)
Standard & Poor's cut SoftBank Corp's debt rating two notches to "junk" grade, citing financial risks from its $21.6 billion purchase of U.S. wireless carrier Sprint Nextel Corp and Sprint's proposed takeover of Clearwire Corp.The downgrade spurred a slide in SoftBank's shares, but analysts said the drop was largely due to profit-taking after the stock had surged in anticipation of the Sprint deal, which received final regulatory approval on Friday.S&P had warned in March it would cut SoftBank's rating to BB+, its highest non-investment grade, if the Sprint deal was concluded.The downgrade is unlikely to increase financing costs for SoftBank, which should be able to rely on funding from Japanese banks, said Hiroshi Yamashina, senior telecoms analyst at BNP Paribas in Tokyo.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.42% or $-0.03/share to $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 36936636.
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Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.42% or $-0.03/share to $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 36936636.
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S&P downgrades SoftBank to "junk" status, (NYSE: S)
Standard & Poor's downgraded SoftBank Corp's debt rating by two notches to BB+, the highest of the "junk" grade, citing its higher offer to purchase U.S. wireless carrier Sprint Nextel Corp and its related plan to buy out a portion of Clearwire Corp. The U.S. Federal Communications Commission voted in favor of the SoftBank Sprint merger last week.
Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.42% or $-0.03/share to $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 36936636.
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Sprint Nextel Corporation (Sprint) is a holding company, with its operations primarily conducted by its subsidiaries. Shares of S fell by 0.42% or $-0.03/share to $7.16. In the past year, the shares have traded as low as $3.15 and as high as $7.50. On average, 68409696 shares of S exchange hands on a given day and today's volume is recorded at 36936636.
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