Toshiba will purchase Shaw Group’s (NYSE:SHAW) 20 percent investment in the nuclear power-plant firm Westinghouse Electric for ¥125 billion, or $1.6 billion, which would increase the Japanese conglomerate’s stake to 87 percent. The buyer has also obtained interest from new potential partners concerning the purchase of a stake in Westinghouse, although Toshiba seeks to keep a majority holding.
It’s possible that by next week the Eurpoean Commission might issue a “statement of objections” to United Parcel Service’s (NYSE:UPS) proposed €5.2 billion buyout of TNT Express, unless the American firm offers concessions that would alleviate antitrust issues, according to The Financial Times.
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After all the hoopla and contention, BAE Systems (BAESY.PK) and European Aeronautic (EADSY.PK) have cancelled their proposed $45 billion merger after negotiations became mired in political deadlock. The former said in a statement that, “It has become clear that the interests of the parties’ government stakeholders cannot be adequately reconciled with each other or with the objectives that BAE Systems and EADS established for the merger.” This outcome might not be very surprising, since it relied on France and Germany agreeing to decrease their influence.