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 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

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!