Top of the Morning – Jack Ma Looks for Yahoo Bid Allies

Alibaba Turns to Private Equity for Allies to Bid on Yahoo (WSJ)

Jack Ma, chief executive of Chinese Internet company Alibaba Group Holding Ltd., is looking for U.S. partners and hopes to meet with private-equity companies in coming weeks about a potential bid to buy Yahoo Inc., he said Thursday. ”We’re interested in partnering more, and we’re interested in investing,” he said, adding that the U.S. needs more foreign investment, including from China. ”It’s good for the U.S.A.; it’s good for others,” he said. Mr. Ma’s comments come as Baidu Inc. and Tencent Holdings Ltd.—Chinese companies that are among the world’s largest Internet businesses by market cap—expand their product reach and make acquisitions outside China.

Yahoo icon

Grupo Santander to Sell 35% of Its Auto Financing Unit in $1.15B Deal (NYTimes)

Spain’s Grupo Santander, the euro zone’s largest bank by market capitalization, announced a $1.15 billion deal on Friday to sell a 35 percent stake in its automotive financing unit in the United States to a group of private equity investors, as it looks to shore up its balance sheet. Under the terms of the agreement, Kohlberg Kravis Roberts, Centerbridge Partners and Warburg Pincus will invest a combined $1 billion for a 25 percent share in Santander Consumer USA. Dundon DFS will pay $150 million for a 10 percent stake in Santander Consumer USA.

GE Profit Up 57% (WSJ)

General Electric Co.’s third-quarter earnings rose 57% as energy-infrastructure gains helped offset flat revenue at the GE Capital finance arm and the absence of media company NBC Universal. GE reported a profit of $3.22 billion, up from $2.06 billion a year earlier. On a per-share basis, which includes eight cents a share in costs in the latest period the redemption of preferred sharse, earnings came in at 22 cents a share. Excluding the redemption, earnings rose to 31 cents from 28 cents a year earlier.

Citic Accepts Peabody Energy and ArcelorMittal‘s $5B Takeover Bid for Macarthur Coal (FT)

China’s Citic Resources has accepted Peabody Energy and ArcelorMittal’s A$4.9bn ($5bn) takeover offer for Australia’s Macarthur Coal, taking the bid to the brink of success, the companies said on Friday. According to Peabody and ArcelorMittal, they will control more than 49 per cent of Macarthur with the acceptance from Citic – Macarthur’s top shareholder – and intend to declare the offer unconditional on obtaining 50.01 per cent. The offer price of A$16.00 per share will increase to A$16.25 per share if the 90 per cent threshold is reached.

Reader’s Digest to Sell Allrecipes Site (NYTimes)

The Reader’s Digest Association said on Thursday that it was exploring a potential sale of its Allrecipes unit, as the media company continues to reorganize its business. Reader’s Digest is working with Morgan Stanley and Evercore Partners on its strategic options review.

Lobbyists Call for Lower IPO Barriers (FT)

A lobbying effort is getting under way to loosen restrictions on smaller companies going public, including rules put in place after the bursting of the “dotcom” bubble, as a way to create jobs. A task force convened earlier this year by the Treasury department, consisting of bankers, investors, company executives and venture capitalists, released a series of proposals that included exempting small companies from some securities laws, altering Wall Street restrictions on analyst research and offering tax breaks to long-term investors in initial public offerings.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!