Mergers and Acquisitions Recap: AT&T May Sell YellowPages, Imperial Sugar Sale
Imperial Sugar (NASDAQ:IPSU) shares jumped after it sold a 50 percent interest in Wholesome Sweeteners to an Arlon Group affiliate. The deal’s price ranges between $55 and $60 million, and depends on Wholesome’s working capital and credit availability when completed.
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Chinese construction gear companies are giving Caterpillar (NYSE:CAT) and other heavy machinery vendors a run for their money, so to speak. Sany, Zoomlion, and XCMG are among the Chinese companies that lead the top 50 of the field, and they comprised about 15 percent of the revenues in 2010 (1.6 percent in 2003). These Chinese companies’ efforts at buying foreign companies for their technology, brands, and distribution networks, is increasing as well.
AT&T (NYSE:T) Yellow Pages are losing more sales than ever to online competitors, some $3.29 billion in 2011, which is down 16 percent. Though the company wants to retain a “substantial minority stake”, it expects to sell its majority stake to private equity firm Cerberus Capital in a deal that would value the business at approximately $1.5 billion. The sale could be closed during this month.
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