Deals of the Hour

Trying to find out what's the deal with the world, tracking what's on sale and who's talking about it on Twitter. Update hourly.

Deals of the Hour / November 8, 2010, 7:41 pm

2nd UPDATE: Sanofi Renews Call For Talks; Genzyme Stands Firm

NEW YORK (Dow Jones)--French drug giant Sanofi-Aventis SA (SNY) Monday renewed calls for talks with its takeover target, U.S.-based Genzyme Corp. (GENZ), which reiterated its assertions that the hostile offer is too low. Sanofi urged the biotech to abandon ... (Source: Wall Street Journal 2010-11-08T22:12:15Z)

With staid Japan as host, no silly shirts for APEC

YOKOHAMA, Japan -- For some Pacific Rim leaders, this will surely come as a relief: No kimonos or other special attire for the annual group photo. Over the years, one of the most memorable moments of the annual Asia-Pacific Economic Cooperation summit has ... (Source: Forbes 2010-11-08T13:44:00Z)

Morgan Stanley CEO says no Smith Barney deal delay

NEW YORK, Nov 8 (Reuters) - Morgan Stanley ( MS.N ) Chief Executive James Gorman on Monday shot down recent reports that the investment bank wanted to put off purchasing a larger stake in brokerage Morgan Stanley Smith Barney from its joint venture partner ... (Source: Reuters 2010-11-08T14:41:16Z)

Genzyme Reiterates Sanofi-Aventis Takeover Offer Still Too Low

(RTTNews) - In response to a letter sent by Sanofi-Aventis (SNY: News ) earlier on Monday, Genzyme Corp. (GENZ: News ) reiterated that the French drug maker's $69 per share takeover bid "dramatically undervalues" the company. In a letter to Christopher ... (Source: RTT News 2010-11-09T01:18:22Z)

Morgan Stanley Intends to Buy Smith Barney as Planned

Nov. 8 (Bloomberg) -- Morgan Stanley Chief Executive Officer James Gorman said the firm intends to buy the remaining stake in a brokerage joint venture with Citigroup Inc.'s Smith Barney on target dates established in the original deal. "Whenever those ... (Source: BusinessWeek 2010-11-08T15:38:32Z)

Google looking for more acquisitions like YouTube

Google is likely to buy more companies about the size of YouTube and DoubleClick, its two largest acquisitions, to help offer more online services, said the company's head of mergers and acquisitions. "The world changes really quickly, and companies that ... (Source: San Francisco Gate 2010-11-07T01:06:25Z)

APEC nations discuss Pacific region trade zone

(11-08) 04:00 PST Yokohama, Japan -- Officials from 21 Pacific Rim economies, including the United States, China and Japan, began meetings Sunday that could move the region toward a bold goal - creating a Pacific-wide free-trade zone. The Asia-Pacific ... (Source: San Francisco Gate 2010-11-08T15:45:42Z)

Most active New York Stock Exchange-traded stocks

A look at New York Stock Exchange 10 most-active stocks at 1 p.m.: Bank of America Corp. rose 1.4 percent to $12.53 with 122,641,100 shares traded. Citigroup Inc. fell 1.1 percent to $4.44 with 227,144,700 shares traded. Ford Motor Co. was unchanged at $16 ... (Source: Forbes 2010-11-08T18:30:20Z)

Sara Lee bakery sale to Bimbo could come this week

(Reuters) — A deal whereby Sara Lee Corp. sells its North American bakery business to Mexico's Grupo Bimbo for $900 million to $1 billion could be announced this week, Bloomberg reported on Monday, citing two people with knowledge of the matter. The two ... (Source: Crain's Chicago Business 2010-11-08T18:16:01Z)

Sale of Caritas hospital chain closed

BOSTON-- The $895 million sale of six eastern Massachusetts hospitals has been completed. Caritas Christi Health Care announced on Monday that it had closed on the purchase by Cerberus Capital Management, a New York-based private equity firm. The statement ... (Source: msnbc.com 2010-11-08T18:16:01Z)

Ashland jumps on distribution unit sale for $930M

Shares of chemical maker Ashland Inc. jumped Monday after the company announced the sale of its distribution business to private investment firm TPG Capital for $930 million. The distribution business is Ashland's largest, with 2,000 employees in the U.S ... (Source: AP - msnbc.com 2010-11-08T23:30:59Z)

Sanofi's Viehbacher Rules Out $80-a-Share Offer for Genzyme

Sanofi-Aventis SA , France's biggest drugmaker, won't raise its $69-a-share offer for Genzyme Corp. to $80, Sanofi Chief Executive Officer Chris Viehbacher said. Following are comments he made today during a conference call with reporters: On whether ... (Source: Bloomberg 2010-10-28T08:20:37Z)

Creditors file 3 competing Tribune restructuring plans

A third plan, filed by senior lenders that financed the early parts of the buyout, would preserve the right to sue banks that financed the final stage of the Zell buyout. By the time the deal had reached that stage, it was clearer that the company would ... (Source: Boston Herald 2010-10-31T04:06:31Z)

Sanofi Says Genzyme Should Swear Off Defensive Steps

Nov. 8 (Bloomberg) -- Genzyme Corp. should forgo defensive measures such as staggering the terms of its directors to allow shareholders to decide whether they want to accept an $18.5 billion hostile takeover offer from Sanofi-Aventis SA, Sanofi said ... (Source: BusinessWeek 2010-11-08T17:40:14Z)

Genzyme Should Swear Off Defensive Measures, Sanofi Says

Nov. 8 (Bloomberg) -- Genzyme Corp. should forgo defensive measures such as staggering the terms of its directors to allow shareholders to decide whether they want to accept an $18.5 billion takeover offer from Sanofi-Aventis SA, Sanofi said. Sanofi is ... (Source: BusinessWeek 2010-11-08T15:52:51Z)

Sanofi Renews Call For Talks; Genzyme Stands Firm

NEW YORK -(Dow Jones)- French drug giant Sanofi-Aventis SA ( SNY ) Monday renewed calls for talks with its takeover target, U.S.-based Genzyme Corp. ( GENZ ), which reiterated its assertions that the hostile offer is too low. Sanofi urged the biotech to ... (Source: FOXBusiness 2010-11-08T23:38:09Z)

Annual Message From the Chairman of ITEX Corporation

BELLEVUE, Wash., Nov. 8, 2010 -- /PRNewswire-FirstCall/ -- ITEX Corporation (OTC Bulletin Board: ITEX), The Membership Trading Community(SM), today released the annual letter to stockholders from Chairman and Chief Executive Officer Steven White. We ... (Source: Sacramento Bee 2010-11-08T16:00:01Z)

U.S. Bancorp Plans Two-Part $1.5 Billion Debt Sale

U.S. Bancorp , the fifth-biggest U.S. commercial bank by deposits, plans to sell $1.5 billion of bonds in a two-part offering as soon as today, according to a person familiar with the transaction. The lender may issue $500 million of three-year notes that ... (Source: Bloomberg 2010-10-28T16:20:13Z)

PLC Systems Signs TMR Asset Sale Agreement with Novadaq

FRANKLIN, Mass. , Nov. 8, 2010 /PRNewswire-FirstCall/ -- PLC Systems Inc. (OTC Bulletin Board: PLCSF), a company focused on innovative medical device-based technologies, today announced that it had signed a definitive agreement to sell all of its ... (Source: MSN Money 2010-11-08T21:29:18Z)

APEC debates having power to forge trade deals

Pacific Rim economies are debating whether to give APEC the power to negotiate free trade pacts, a move that could pave the way for a massive free trade zone that lowers tariffs on goods from electronics to food. Members of the Asia-Pacific Economic ... (Source: AP - msnbc.com 2010-11-08T11:06:32Z)

Caritas Christi closes sale to private equity firm

Caritas Christi Health Care, the state's second largest hospital chain, said this morning that it has closed its sale to an affiliate of Cerberus Capital Management, a New York private equity firm. As the chain's new owner, Steward Health Care System LLC ... (Source: Boston Globe 2010-11-08T21:07:49Z)

Google eyes other YouTube-sized deals

Google Inc. is ready to do more deals the size of YouTube and DoubleClick, according to its chief dealmaker. "The world changes really quickly, and companies that were small two years ago are huge today," corporate development vice president David Lawee ... (Source: Birmingham Business Journal 2010-11-08T15:45:42Z)

Sara Lee near bakery sale to Grupo Bimbo -report

Nov 8 (Reuters) - Sara Lee Corp ( SLE.N ) is close to selling its North American bakery business to Mexico's Grupo Bimbo ( BIMBOA.MX ) in a deal that could fetch $900 million to $1 billion, Bloomberg said, citing two people with knowledge of the matter ... (Source: Reuters 2010-11-08T10:09:16Z)

UPDATE: Morgan Stanley CEO: Set To Move On Smith Barney Deal

NEW YORK -(Dow Jones)- Morgan Stanley ( MS ) Chief Executive James Gorman said the investment bank plans to "move forward" with its plans to eventually purchase the remainder of the firm's joint venture with Smith Barney. Gorman, responding to questions ... (Source: NASDAQ 2010-11-08T15:24:13Z)

Ashland Jumps on $930 Million Distribution-Unit Sale

Nov. 8 (Bloomberg) -- Ashland Inc., the maker of Valvoline motor oil, gained the most in 17 months in New York trading after the company agreed to sell its low-margin chemical distribution unit to TPG Capital for $930 million. Ashland rose $4.86, or 9.5 ... (Source: BusinessWeek 2010-11-08T21:22:08Z)

Google to Make More Deals Like YouTube, DoubleClick

Nov. 5 (Bloomberg) -- Google Inc. is likely to buy more companies about the size of YouTube and DoubleClick, its two largest acquisitions, to help offer more online services, said the company's head of mergers and acquisitions. "The world changes ... (Source: BusinessWeek 2010-11-05T21:47:10Z)

International Speedway Corporation Announces Closing of Tender Offer

DAYTONA BEACH, Fla., Nov. 8, 2010 /PRNewswire-FirstCall/ -- International Speedway Corporation (Nasdaq Global Select Market: ISCA; OTC Bulletin Board: ISCB) ("ISC") announced today the final results of its previously announced cash tender offer to purchase ... (Source: Forbes 2010-11-08T21:43:37Z)

Mass. court approves sale of Caritas hospitals

A justice of Massachustts' highest court has signed off on the proposed sale of six Boston-area hospitals to a New York private equity firm that intends to turn the chain into a for-profit venture. Attorney General Martha Coakley previously approved the $ ... (Source: AP - msnbc.com 2010-10-29T17:30:37Z)

UPDATE 1-Sara Lee near bakery sale to Grupo Bimbo-report

NEW YORK Nov 8 (Reuters) - A deal whereby Sara Lee Corp ( SLE.N ) sells its North American bakery business to Mexico's Grupo Bimbo ( BIMBOA.MX ) for $900 million to $1 billion could be announced this week, Bloomberg reported on Monday, citing two people ... (Source: Reuters 2010-11-08T17:33:04Z)

Ashland sells distribution business

Shares of chemical maker Ashland Inc. jumped Monday after the company announced the sale of its distribution business to private investment firm TPG Capital for $930 million. The distribution business is Ashland's largest, with 2,000 employees in the U.S ... (Source: Courier-Journal 2010-11-08T21:36:27Z)

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