Newspaper wrap-up: JPMorgan in talks to increase offer for Bear
Posted Mar 24th 2008 7:55AM by Laurie Pasternack
Filed under: Newspapers, Magazines, JPMorgan Chase (JPM), Circuit City Stores (CC), Anglo Amer ADR (AAUK), Bear Stearns Cos (BSC)
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MAJOR PAPERS:
- In a deal that values Global Ship Lease at about $500M, the Wall Street Journal reported that Marathon Acquisition Corp. (AMEX: MAQ) is expected to acquire a majority stake, or 66%, in the firm that acquires and charters vessels to container shipping companies.
- Activist investors are moving in on Circuit City Stores Inc (NYSE: CC), which is expected to result in a change of management as the company's turnaround efforts have failed and many investors have jumped ship, according to the Wall Street Journal's "Heard on the Street".
OTHER PAPERS:
WEB SITES:
- The mining industry is consolidating, Business Week noted, and investment pro Richard Steinberg, sees Anglo American Plc (NASDAQ: AAUK) as a possible takeover target due to its sizable deposits of platinum and ferrous and nonferrous metals.
- Perfect World Co Ltd (NASDAQ: PWRD), a big player in China for online gaming, has seen its share price shoot up to $37 in October, up from $16 back in July, Business Week reported, and then slide back down to $21.90, attracting investors again.
- Business Week reported that investors are flocking to overseas investments and opportunities as they have become spooked by Bear Stearns' collapse, and the prospect of a protracted U.S. financial crisis or recession. John Maloney, president of M&R Capital Management says it makes sense to put money in non-U.S. investments, particularly in Liberty Global Inc (NASDAQ: LBTYA), a major cable company.
Tags: AAUK, Anglo American, AngloAmerican, Bear Stearns, BearStearns, BSC, CC, Circuit City, CircuitCity, Global Ship Lease, GlobalShipLease, GSL, JP Morgan, JPM, JpMorgan, LBTYA, Liberty Global, LibertyGlobal, MAQ, Marathon Acquisition, MarathonAcquisition, Perfect World, PerfectWorld, PWRD
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