Chinese conglomerate Fosun International Ltd is considering a bid for Cushman & Wakefield Inc, the world's third-largest real estate company, Bloomberg reported, citing sources familiar with the matter. The Shanghai-based investment firm is among several companies that have expressed interest in Cushman, Bloomberg reported, adding that the process is at a preliminary stage and any deal could be several months away. (bloom.bg/1xagPMD)The deal would bring Fosun industry expertise that could help it manage its global real-estate investments and explore new deals, Bloomberg said, quoting one of the people.Italy's Agnelli family, which owns 81 percent of Cushman through its holding company Exor SpA, hired Goldman Sachs Group Inc and Morgan Stanley last month to find a buyer for Cushman and the deal could fetch $2 billion, the Wall Steet Journal reported.Earlier this month, Fosun bought a 5 percent stake in Thomas Cook Group for 92 million pounds ($140 million), deepening its foray into Europe's tourism sector.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management company. Shares of GS traded higher by 1.35% or $2.56/share to $191.90. In the past year, the shares have traded as low as $151.65 and as high as $198.06. On average, 2749700 shares of GS exchange hands on a given day and today's volume is recorded at 2127669.
Morgan Stanley is a global financial services company that, through its subsidiaries and affiliates, provides its products and services to a range of clients and customers, including corporations, governments, financial institutions and individuals. Shares of MS traded higher by 1.05% or $0.38/share to $36.73. In the past year, the shares have traded as low as $28.31 and as high as $39.19. On average, 10643100 shares of MS exchange hands on a given day and today's volume is recorded at 8077176.
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