 | Hello John |  |  | Nasdaq OMX and IntercontinentalExchange (ICE) dropped their $11.1 billion bid for rival exchange NYSE Euronext after it became clear the deal would not gain approval from U.S. antitrust regulators. The companies first offered to buy the New York Stock Exchange parent on April 1, aiming to curb a proposed friendly merger with Deutsche Boerse that was worth $10.2 billion when first announced in February. Deutsche Boerse responded to the news of the dropped bid by saying it plans to continue to pursue a merger with the Big Board parent.
In other exchange merger news, a consortium of Canadian banks and pension funds launched a $3.7 billion bid for TMX Group in the hopes of keeping Canada's largest stock exchange from falling under foreign ownership. The bid tops a $3 billion offer for the exchange operator from the London Stock Exchange (LSE). The LSE said it remains committed to its own merger proposal with the TMX despite the higher rival offer, but should its bid fail it could find itself to be a takeover target, analysts said.
U.S. chemicals group DuPont won its takeover battle for Danish food ingredients company Danisco. The $6.4 billion acquisition is a part of DuPont's push into the food technology business that CEO Ellen Kullman says will "create an industry leader in industrial biosciences and nutrition and health."
BP is in talks aimed at buying out its Russian partners in its TNK-BP joint venture and other options to help secure passage of a stalled share swap and Arctic exploration deal, sources close to the matter told Reuters.
Yahoo and Alibaba Group will have a tough time resolving their feud over the Chinese company's transfer of a major Internet asset despite a joint statement from both companies that said they were working towards a resolution, writes Reuters correspondent Melanie Lee.
DealZone | | | LATEST NEWS | | Canada banks' TMX bid tops LSE | | TORONTO, May 15 (Reuters) - A group of Canadian banks and pension funds are hoping their C$3.6 billion ($3.7 billion) offer for TMX Group will keep the nation's largest stock market from falling into foreign hands, but questions remained on Sunday whether that is reason enough to succeed. | Full Article | | | LSE seen as bid target if TMX plan fails | | May 16, 2011 08:25 AM ET | | LONDON (Reuters) - The London Stock Exchange's shares rose sharply as analysts said the LSE could find itself vulnerable to a bid if its planned tie-up with Canada's TMX falls apart following a counter offer for TMX. | Full Article | | Glencore lifts mid-point of price range for IPO: source | | May 16, 2011 02:44 AM ET | | HONG KONG (Reuters) - Glencore International Plc has tightened guidance for its planned $11 billion initial public offering (IPO), pushing up the mid-point of the marketing range, a source said, in a sign the commodities trader has seen stronger demand at the higher end of an indicative range. | Full Article | | | TOP NEWS
| | Prosecutor seeks Gaddafi arrest over protest deaths | | May 16, 2011 09:11 AM ET | | THE HAGUE (Reuters) - An international prosecutor on Monday sought an arrest warrant for Libyan leader Muammar Gaddafi accusing him of committing crimes against humanity by killing protesters during an uprising against his 41-year rule. | Full Article | | IMF chief to face NY court in sex assault case | | May 16, 2011 09:07 AM ET | | NEW YORK (Reuters) - IMF chief Dominique Strauss-Kahn makes his first appearance in court on Monday since being accused of trying to rape a hotel maid in a case that sent shockwaves through French politics and left the IMF in turmoil. | Full Article | | Euro zone to back Portugal aid, IMF deputy attends | | May 16, 2011 09:21 AM ET | | BRUSSELS (Reuters) - Euro zone finance ministers are ready to back an EU/IMF bailout of Portugal at a Monday meeting overshadowed by the arrest of International Monetary Fund chief Dominique Strauss-Kahn on sexual assault charges. | Full Article | | Lowe's cuts outlook after weak spring sales | | May 16, 2011 09:07 AM ET | | NEW YORK (Reuters) - Lowe's Cos reported weaker-than-expected quarterly results on a slow start to the spring selling season, prompting the world's second-largest home improvement chain to cut its forecast for the year. | Full Article | | | | TECHNOLOGY NEWS | | | | | RELATED VIDEO | | |  |  | | A daily digest of breaking business news, coverage of the US economy, major corporate news and the financial markets. Register Today. |  | | Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents. Register Today. |  | | The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.. Register Today. | | | » MORE NEWSLETTERS | | | ODDLY ENOUGH | | | | | | |
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