US clothing firm agrees to spend $2bn on bootmaker Timberland June 13, 2011 US CLOTHING firm VF Corp has agreed to buy Timberland, the bootmaker, for $2bn (£1.2bn). VF Corp, which owns the North Face clothing brand and chain, is making the acquisition to boost sales of its outdoor gear. The deal values Timberland at $43 a share, a 43 per cent premium to its closing price of $29.99 [...]
Wall Street ends its six-day losing streak June 9, 2011 WALL Street ended higher for the first time in over a week yesterday, with the Dow and the S&P 500 rising 1 per cent at one point, but many analysts saw the rebound as short-lived. A report showing record US exports in April eased some concerns about a stalled economic recovery, which had been weighing [...]
Deutsche Boerse and NYSE offer special dividend June 8, 2011 Stock exchange merger partners Deutsche Boerse and NYSE Euronext unveiled a special dividend yesterday to woo shareholders a month before they must vote on combining the two markets. The exchanges offered shareholders of the combined company a one-off dividend of €2 (£1.78) after the deal closes – a total payout of €620m. The sweetener is [...]
Why all sides need to stop and relax June 7, 2011 IT is time for the City to get its act together: it is in danger of ceasing to function as a proper, efficient platform for raising money for firms seeking to go public, an untenable situation. As our special investigation on pages 1-4 of today’s newspaper demonstrates, the market for corporate floats has almost ground [...]
Groupon float to make three billionaires June 3, 2011 GROUPON’S three founders are set to become dollar billionaires when the online coupon phenomenon lists on the New York Stock Exchange. In the latest blockbuster dotcom listing, Groupon’s planned sale of $750m (£459m) to $1bn of its stock assumes an overall company value of about $20bn – only slightly smaller than Google when it listed [...]
THE DOT COM WORLD June 3, 2011 ● LINKEDIN The most recent of the blockbuster dotcom IPOs, professional-networking site LinkedIn saw its share price more than double in value on its listing date of May 19. Shares rose as much as 171 per cent in the first day’s trading on the New York Stock Exchange and closed at $94.25, 109 per cent [...]
Groupon files for up to $750m IPO June 2, 2011 DISCOUNTING website Groupon has filed for an initial public offering on the New York Stock Exchange to raise up to $750m (£457m). Hot on the heels of business networking site LinkedIn, Groupon is exploiting the booming demand for internet companies on US capital markets – and their consequent high valuations. Groupon launched only in 2008 [...]
Coca-Cola considers a listing in Shanghai June 1, 2011 COCA-COLA, the world’s largest soft-drink company, said yesterday it is holding talks with the Chinese government over a possible listing in Shanghai, joining other global firms in testing the waters for a listing in China. Coca-Cola has said it will commit $2bn (£1.22bn) of investment into China and last October opened three new plants in [...]
Wall Street sell-off on recovery fears June 1, 2011 WALL Street ended a four-day rally with its worst session since August yesterday and could suffer more losses in coming days as investors faced more signs the economic recovery is fading. All 10 Standard & Poor’s sectors ended more than one per cent lower and all 30 stocks in the Dow industrials fell. Banks were [...]
Coca-Cola considers Shanghai listing June 1, 2011 Coca-Cola Co, the world’s largest soft-drink company, said it may explore a possible listing in Shanghai, joining other global firms in testing the waters for a China listing, along with its increasing presence there. Coke has said it will commit $2bn (£1bn) in investment into China and last October opened three new plants in Inner [...]