M&A Review: ING Receives FINAL Bids, Shell GIVES UP Cove
Here are Monday’s top M&A stories:
ING (NYSE:ING) receives a final round of bids for its Asian life insurance operations, which should raise more than $7 billion. Manulife (NYSE:MFC) of Canada, and AIA Group of Hong Kong are among the insurers who submitted bids, according to the WSJ.
Don’t Miss: MSNBC Re-Named After NBC-Microsoft Divorce.
Royal Dutch Shell (RDS.A) will not change its bid for Cove Energy (CNVGF.PK), which effectively concedes the auction of the company to Thailand’s PTT. Shell had wanted to buy Cove in order to gain access to potential liquefied natural gas developments in Mozambique and other exploration positions in the region.
Cisco’s (NASDAQ:CSCO) has purchased Virtuata, which developes software for securing data on servers running virtualization software. Enterprise interest in virtualization, which enhances a server’s efficiency by enabling it to run multiple operating system instances, continues to jump. The virtualization performance of Cisco’s UCS server line, differentiates the small but quickly-growing part of its business.
Don’t Miss: RIM Grapples With Legal SINK or SWIM.
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.