The Chinese government-owned Sinopec (NYSE:SNP) and ENN Energy Holdings (XNGSF.PK) are abandoning their $2.2 billion hostile bid for the natural gas operator China Gas (CGHOF.PK), reputedly due to regulatory obstacles. But now, China Gas might well accept a strategic co-op agreement that would permit Sinopec to sell gas directly to Chinese homes and also allowing for future share buys.
The Charles Schwab Corporation (NYSE:SCHW) will buy the money manager ThomasPartners for $85 million in upfront cash and additional consideration that depends on growth in AUM, which is currently at $2.3 billion. The buyer expects the purchase to be accretive to earnings per share after the first year.
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Shares of the Israeli carrier Partner Communications Company (NASDAQ:PTNR) jump on word that the holding firm Scailex is in discussions with media magnate Haim Saban concerning divesting its interest in Partner. According to one report, Saban will buy a stake of between 35 and 40 percent in a price range of $400 million to $450 million in a multi-stage deal.