Ancestry Selling to Permira and 4 Morning Hot Stocks to Track
Genealogy site Ancestry.com (NASDAQ:ACOM) is selling itself for $1.6 billion to a group of investors headed by private equity firm Permira. The group, which includes Permira’s co-investors, some senior management of ancestry.com and Spectrum Equity (30% holder in Ancestry.com), will pay $32 a share.
After securing almost complete control on its Indian arm, GM (NYSE:GM) is reported to have informally offered to acquire the 17% stake held in its Korean unit by public sector Korea Development Bank. If GM’s offer is accepted, it’s stake in the unit would rise to 94%, allowing it to implement any restructuring it sees fit.
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A comment in the Guardian says Amazon (NASDAQ:AMZN) may still be coveting online fashion retailer Asos regardless of its now higher market cap of approximately £2 billion ($3.21 billion). Analysts think the company’s new in-country warehouses would boost profitability.
According to a report in the WSJ, British regulators are trying to get RBS (NYSE:RBS) to sell its RBS Citizens banking unit in the US in an effort to streamline RBS, refocus on the UK market and improve capital reserves. The RBS Citizens unit is said to have more than $ 140 billion in assets and is worth about £ 6.6 billion, according to Citigroup analysts. RBS management on the other hand, feels Citizens is a lucrative business and would prefer not to sell it.
Shares in LDK Solar (NYSE:LDK) are moving higher before the bell on the company’s announcement that it will sell a 19.9% stake to Chinese company Heng Rui Xin Energy Co., Ltd. for $0.86 per share.
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