Mergers and Acquisitions Recap: Groupon Buys Social App, FedEx Likes Europe
Groupon (NASDAQ:GRPN) has purchased Ditto.me, a social recommendation app, for an amount that was not reported. It seems that the acquisition will lead to Ditto being shut down, a clue that Groupon was after the app’s talented engineers and designers.
On Wednesday, Audi is expected to announce that motorcycle builder Ducati will be purchased by Volkswagen’s (VLKAY.PK) Audi division for €860 million, or $1.12 billion). This report according to sources.
FedEx (NYSE:FDX) is still in the market for more European acquisitions, as it reports to be in talks with French company TATEX, which handles more than 19 million parcels per year. This follows FedEx’s announcement that it would purchase the Polish shipping company Opek.
Chinese company Sinopec (NYSE:SHI) is said to be in negotiations to purchase Repsol’s (REPYY.PK) investment in YPF (NYSE:YPF) for $15 billion. Chairman Antonio Brufau of Repsol says that certain potential buyers have indeed shown some interest, but would not confirm whether one of them is Sinopec.
Progress Energy (NYSE:PGN) seems to be unable to finish its proposed merger (announced in January 2011), with Duke Energy (NYSE:DUK), and the former’s shares reflect the situation, trading at a 4.15 percent discount to the price implied in the terms. In addition, regulatory conditions might seal the deal’s doom according to ISI Group, which puts the chances of such an event at as much as 50-50.
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