In Tuesday's Americas papers

17 July 2007 13:00  [Source: ICIS news]

THE WALL STREET JOURNAL

 

Front Page

 

Basell to buy Lyondell in $12.6bn deal

Less than a week after its bid for chemical manufacturer Huntsman was rejected in favour of a better offer, Basell Holdings agreed to buy Lyondell Chemical for $12.66bn (€9.07bn), or $48 per share, based on the number of shares outstanding.

 

Dow Jones, News Corporation set deal

News Corporation reached a tentative agreement for the purchase of Dow Jones at its original $5bn (€3.6bn) offer price. The deal will be put to the full Dow Jones board this evening for its approval, said people familiar with the situation.

 

Live at Apollo Management: plan to cash in, limit scrutiny

Apollo Management, joining the frenzy by private equity firms to capitalise on their successful track records, is preparing a double-barreled move to cash in and at the same time retain the advantages of being private.

 

Money and investing

 

Bain Capital's latest fund builds in rainy day factor

Bain Capital, in a concession to uncertainty about the health of the deal-making environment, is raising $15bn (€10.8bn) for its latest private equity fund, but it will keep a large chunk of that on the sidelines to ease the pressure such megafunds feel to become fully invested as quickly as possible.

 

Can yellow pages sustain their tear?

Stock prices of the big US yellow page publishers, RH Donnelley and Idearc, have been soaring. But as individuals and businesses move to more internet searches, rather than relying on old-fashioned telephone books, it isn't clear if the recent rally can be sustained.

 

Time for Barclays's next serve

As Barclays PLC figures out how much it can afford to bid for Dutch bank ABN Amro Holding, it will be counting on several factors outside its control.

 

THE NEW YORK TIMES

 

Front Page

 

Bush to bolster Abbas and seek peace talks

President Bush announced an initiative on Monday to shore up the Palestinian president and to begin building a Palestinian state, signalling that his administration will use its remaining months to make a major push for peace between Israelis and Palestinians.

 

Judge rejects charges for 13 on tax shelter

A federal judge dismissed charges yesterday against 13 former employees of the accounting firm KPMG, delivering a blow to prosecutors who once heralded the case as a showpiece in the government’s crusade against questionable tax shelters.

 

Business

 

Dow Jones and Murdoch said to move close to deal

Rupert Murdoch reportedly moved a major step closer to achieving his long-standing aim of acquiring The Wall Street Journal, when Dow Jones tentatively agreed to be acquired by Mr Murdoch’s News Corporation yesterday.

 

Ford seeking a future by going backward

When Bill Ford Jr beat out Fiat and Volkswagen eight years ago to buy Volvo, he declared the $6.5bn (€4.68bn) acquisition a “meaningful step” to fulfilling the Ford Motor’s “21st-century vision” of becoming the world’s leading automaker.

 

THE WASHINGTON POST

 

Front Page

 

War games play out scenarios for Iraq

The US military is performing role-playing exercises and studying historical parallels to predict what may happen to Iraq when US forces leave.

 

Bush to sponsor peace talks

President says only nations that "recognise Israel's right to exist" will be invited to conference.

 

Business

 

Dow Jones, Murdoch reach deal

Media mogul's unsolicited $5bn (€3.6bn) bid for Wall Street Journal, other assets, awaits board approval.

 

Former SEC officials enter securities case

Three former officials ask to intervene in a Supreme Court dispute that could determine whether defrauded investors can recover money from third parties.

 

GLOBE AND MAIL, Canada

 

Front Page

 

DND says it's ensuring troop safety by staying mum

Senior staff at the Department of National Defence are defending the way they release information to the public in the face of criticism and assertions that the department is suppressing documents about Afghan detainees.

 

Barrels of nuclear waste tipped in quake

A powerful earthquake tipped over barrels of nuclear waste at a power plant in northern Japan, a plant spokesman said Tuesday, a day after officials said the quake had caused the reactor to spill radioactive water into the sea.

 

Business

 

TD Bank to take $4bn stake in BCE

Toronto-Dominion Bank has agreed to commit about $4bn (€2.88bn) in capital to help finance the record takeover of BCE including purchasing a half-billion dollars worth of equity that will give the bank a 7% ownership stake in the telecommunications company, according to people familiar with the matter.

 

News Corporation reaches tentative deal to buy Dow Jones

Rupert Murdoch's News Corporation has reached a tentative agreement to buy Dow Jones, publisher of The Wall Street Journal, the journal reported on its website.

 

BUENOS AIRES HERALD

 

Front Page

 

PRO insists on 30-day handover

Buenos Aires Mayor-elect Mauricio Macri of the PRO party is due to continue pressing today for President Nestor Kirchner to turn over control of the metropolitan section of the Federal Police to the municipal government.

 

Israel ends manhunt for Fatah 180

Israel agreed yesterday to stop hunting 180 wanted Fatah militants who pledge to end attacks against the Jewish state, as part of a US-led effort to bolster Palestinian President Mahmoud Abbas.

 

($1 = €0.73)

 


By: Staff Reporter
+44 20 8652 3214



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