- Tools for Investors
- Stock News
- Investing Ideas
- Econ & Policy
- Personal Finance
Universal Music (VIVHY.PK) has been advised by the European Commission that its $1.9 billion purchase of EMI’s (NYSE:C) recorded music arm will significantly impede competition in the region, according to a Reuters report. The action implies that the regulators might block the deal unless meaningful concessions are made by Universal, which has until Tuesday to respond.
Don’t Miss: Why is Apple in ANOTHER Legal Battle in China?
BlackRock (NYSE:BLK) acquires Swiss Re’s $7.5 billion AUM private equity unit, as it exploits the insurer’s cutting back its business in the face of new regs on risk asset holdings. The transaction should close in the third quarter, and the purchaser says that it’s forecast to be neutral to modestly accretive for 2012 earnings; financials of the deal were not divulged.
Duke Energy (NYSE:DUK) finalizes its purchase of Progress Energy (NYSE:PGN), but at that time named Jim Rogers as CEO and Chairman of the combined company, a move that was not expected. PGN CEO Bill Johnson had been expected to head the new combined company, along with Rogers as executive chairman, but he exited, making the new step necessary. Meanwhile, Duke is said to have acquired the bankrupt 240 MW Campanario power plant in Chile for $86.2 million. The purchase marks Duke’s entry into that country, which reinforces its footprint in several other South American nations.
Don’t Miss: Have Facebook and GM Kissed and Made Up?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.
Don't miss one of the biggest bull markets in history! Covers Gold, Silver, Gold & Silver stocks, and miners.
There's always a bull market in some sector! Find the best opportunities in commodities.