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Newspaper wrap-up 4-30-07: Porsche bids for Volkswagen

Posted Apr 30th 2007 9:10AM by Eric Buscemi
Filed under: Newspapers, Magazines, Citigroup Inc. (C), Novell Inc (NOVL), Jones Apparel Group (JNY)

MAJOR PAPERS:

The Wall Street Journal reported that Telefonica SA ADS of Spain (NYSE: TEF), in a $5.6B deal, has won a stake in Telecom Italia (NYSE: TI), but not control.
According to the Wall Street Journal, Jones Apparel Group Inc (NYSE: JNY) CEO Peter Boneparth may sell Barney's, which it purchased in 2004 for $400M and today may be worth $800M.
The Wall Street Journal reported that Marathon Oil Corporation (NYSE: MRO) is constructing a $3.2B addition to its biggest refinery in Louisiana for diesel fuel.
The Wall Street Journal reported that Deutsche Boerse is in talks to make a $2.6B offer for International Securities Exchange Holdings Inc (NYSE: ISE).
Senior Citigroup Inc (NYSE: C) executives are afraid the company could become a target of activist hedge funds seeking to break the company up, reported the Financial Times.
According to the Financial Times, a number of companies involved in options backdating scandals, including McAfee Incorporated (NYSE: MFE) and Novell Inc (NASDAQ: NOVL), could be vulnerable to takeover by activist investors.

OTHER PAPERS:

The New York Times "Dealbook" reported that Porsche has bid $48.9B for Volkswagen AG (OTC: VLKAY), and the bid will run for four weeks starting today.
The News Journal reported that AstraZeneca (NYSE: AZN) has received a subpoena from the Delaware Attorney General, which seeks documents about the company's contracts with Delaware hospitals.

Tags: astrazeneca, azn, c, citigroup, dealbook, financial times, FinancialTimes, ft, international securities exhange, InternationalSecuritiesExhange, ise, jny, jones apparel, JonesApparel, marathon oil, MarathonOil, mcafee, mfe, mro, new york times, news journal, NewsJournal, newspaper, NewYorkTimes, novell, novl, paper, periodical, tef, telecom italia, TelecomItalia, telifonica, ti, vlkay, volkswagen, wall street journal, WallStreetJournal, wsj

Indexes	Change	Price
DJIA	+47.45	12,848.68
NASDAQ	+17.66	2,921.54
S&P 500	+5.96	1,348.60

Last updated: February 13, 2012: 12:49 PM

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