A123 Systems (NASDAQ:AONE), which is in bankruptcy proceedings, is up 59% on reports that Chinese company Wanxiang Group Corp would make a superior bid for its battery business compared to that offered by Johnson Controls (NYSE:JCI), currently the “stalking horse” bidder. A decision on the initial bidder will be taken by the judge on October 30.
The mobile phone industry in India, which includes Vodafone (NASDAQ:VOD) is set to receive major setbacks as the government decides to slap a one-time “spectrum charge”, which could be as high as $ 4.24 billion, in return for holding excess spectrum. In another move, regulators demanded that certain operators, who held high quality spectrum, be made to rebid for the same.
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Health information service WebMD (NASDAQ:WBMD) extends the expiry period of its “Rights Agreement,” a.k.a poison pill deterrent to would-be acquirers, by two years, and reduces the price payable for shares issued under the Rights Agreement from $ 153 to $ 66.29.
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