Deal Journal

Lazard Makes Push in Brazil, Hires Meirelles

Jamie Heller — Thu, 31 May 2012 20:13:15 +0000

Lazard Ltd, seeking to boost its presence in one of the few current bright spots in the global investment-banking landscape, is taking over its Brazilian joint venture and hiring the former president of the country�s central bank.

Nike Shedding Cole Haan and Umbro Layers: Who Could Buy?

David Benoit — Thu, 31 May 2012 20:11:40 +0000

Nike today said it was going to shed a couple of layers by jettisoning Cole Haan and Umbro brands, and concentrate on its namesake and core brands.

Morgan Stanley Smith Barney: The Timeline Going Forward

Brett Philbin — Thu, 31 May 2012 19:00:01 +0000

Once Morgan Stanley gives Citi notice it intends to buy an additional 14% of Morgan Stanley Smith Barney, the two firms will have roughly 45 days for their respective appraisers--likely their own investment banks--to submit a fair market value estimate for the brokerage.

Macquarie Bolsters Oil-and-Gas Group

Ryan Dezember — Thu, 31 May 2012 18:48:06 +0000

Looking to beef up its presence in the oil patch, Macquarie Group has promoted a pair of bankers to leadership positions at its oil-and-gas practice.

Kleiner Perkins Hires New Tech Partner From Square

David Benoit — Thu, 31 May 2012 18:23:21 +0000

Kleiner Perkins Caufield & Beyers continues to bulk up its technology group. The famed venture capitalists have hired Megan Quinn as a partner in its Digital group, to focus on the consumer internet space.

Layoffs at Financial Firms More Than Double In May

WSJ Staff — Thu, 31 May 2012 18:06:43 +0000

Financial firms were loose with the pink slips last month, ramping up the layoffs according to this dispatch from Kelly Eggers over at Fins.com:

Mayor Bloomberg Likes Jamie Dimon a Lot More Than Big Sodas

David Benoit — Thu, 31 May 2012 17:04:36 +0000

Jamie Dimon today has gotten some moral support from New York Mayor Michael Bloomberg.

Elliott Management’s Activist Presentation on BMC

David Benoit — Thu, 31 May 2012 16:10:22 +0000

Elliott Management, the hedge fund pushing BMC Software to sell itself, isn�t as well known for activists stances as it is its vulture-like attitudes. Here's the fund's presentation.

Humana Remains on the Lookout for Medicare Deals

David Benoit — Thu, 31 May 2012 15:55:27 +0000

Health insurer Humana, which has boosted its already-large roster of Medicare Advantage-covered patients with a couple of recent purchases of Medicare-plan providers, remains a potential buyer.

Goldman Sachs Still Hot With the Youths

Liz Moyer — Thu, 31 May 2012 15:48:21 +0000

Notice a throng of fresh-scrubbed young people headed toward 200 West Street in lower Manhattan this morning? That's the new Goldman Sachs summer class. Well, part of it, at least.

Sycamore Walks Away, Then Gets 10% Discount at Talbots

David Benoit — Thu, 31 May 2012 13:46:05 +0000

Sycamore Partners just pulled the old walk-away negotiating tactic to great success.

Morgan Stanley Takes Next Step in Smith Barney Purchase

David Benoit — Thu, 31 May 2012 12:58:05 +0000

The long-anticipated word from Morgan Stanley has arrived. The investment bank is buying the next stake in Morgan Stanley Smith Barney from Citigroup. But not the whole thing.

European Firesale is Asia�s Opportunity: Macquarie

Isabella Steger — Thu, 31 May 2012 09:21:14 +0000

As Europe is mired in economic distress, Macquarie says it�s time Asian companies woke up to opportunities to snap up assets on the cheap.

Ascendas Postpones $500 Million Singapore IPO

WSJ Staff — Thu, 31 May 2012 06:05:36 +0000

Another initial public offering is being shelved in Asia amid an ugly May for regional stock markets.

ENN to Drop Out of Battle for China Gas?

Isabella Steger — Thu, 31 May 2012 04:42:08 +0000

Sinopec and ENN Energy Holdings Ltd.�s six-month long pursuit for China Gas Holdings Ltd. seems as good as dead, but ENN shareholders are very happy with that.

BHP�s New Mine Projects Look Less Assured

Robb M. Stewart — Thu, 31 May 2012 02:00:05 +0000

BHP Billiton�s more cautious approach to investment may mean approval for several $10 billion-plus �mega� projects won�t come this year, setting the stage for heightened friction with governments and increased calls for cash to be returned to shareholders if development spending is reined in.

Graff Pulls $1 Billion IPO

Prudence Ho — Thu, 31 May 2012 01:31:22 +0000

London-based jeweler Graff Diamonds Corp. said Thursday in a press release it has decided to postpone its US$1 billion initial public offering in Hong Kong owing to adverse market conditions that hurt demand.

Formula One IPO Wagers on a Staple

P.R. Venkat — Wed, 30 May 2012 22:59:35 +0000

Investors looking at Formula One Group�s planned $2.5 billion initial public offering are getting up to speed on something they rarely see in Asia: stock bundled with debt.

National Oilwell’s Latest Acquisition: CE Franklin

Ryan Dezember — Wed, 30 May 2012 22:54:53 +0000

National Oilwell Varco is keeping its M&A machine cranking, agreeing to acquire Canadian oilfield parts distributor CE Franklin for nearly $250 million.

Now for Sale at Chesapeake: Drilling Leases in East Texas

David Benoit — Wed, 30 May 2012 20:36:02 +0000

Chesapeake Energy put another piece of its vast collection of energy fields up for sale as the cash-strapped company looks to bridge a budget gap and trim debt.