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According to a report in the Kommersant financial daily, BP (NYSE:BP) and Rosneft met Russian supremo Vladimir Putin on Tuesday to discuss a deal whereby BP would sell its 50 percent stake in TNK-BP to Rosneft for about $10-$15 billion in cash, and 12.5 percent of Rosneft’s shares. Rosneft is reportedly raising $15-$20 billion globally to pay for the transaction.
300 analysts got an advance look-in at JC Penney’s (NYSE:JCP) new store layout in Texas yesterday, according to a report in Bloomberg BusinessWeek. “It certainly highlights they’ve got a great vision,” said Erika Maschmeyer, an analyst at Robert W. Baird & Co.
Stockholder Melvin Simon Family Enterprises Trust is taking the public offering route to dispose of 5.9 million shares held in mall operator and commercial property owner Simon Property Group (NYSE:SPG). Shares of SPG are trending lower on the announcement.
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