US Airways (NYSE:LCC) and TPG Capital might link up in an offer for AMR Corp (AAMRQ.PK), according to sources. The benefit to US of partnering with TPG would be greater financial flexibility and credibility with its offer. The talks are said not to be exclusive, and also that the two companies are both looking into other options.
Talbots (NYSE:TLB) finally finds a buyer, but for below the previous $3 and $3.05 per share offers that it turned down in December and in April, respectively. Sycamore Partners will now acquire the company for $2.75 a share.
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Nike (NYSE:NKE) expects to divest its Cole Haan and Umbro brands, in order “to sharpen its focus on driving growth in the Nike, Jordan, Converse and Hurley brands.” Cole Haan, which makes casual and dress leather footwear and bags, was acquired in 1988, and Umbro, which is based in the United Kingdom, was bought by Nike in 2008.
Liberty Media (LMCA) requests that the FTC rethink its refusal to allow it to take control of Sirius XM Radio (NASDAQ:SIRI). The former raised its investment in the satellite radio company from 40 percent to 46.2 percent already in May.
Martin Marietta (NYSE:MLM) had its hopes dashed by the Delaware Supreme Court Thursday, which affirmed a lower-court ruling that halted Martin Marietta’s $4.5 billion hostile bid and proxy battle for Vulcan Materials (NYSE:VMC) for four months. The latter’s annual meeting begins Friday, and now MLM will not be allowed to try to get four of its nominees elected at that event.
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