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AIG (AIG)

AIG to Sell AIA to Prudential for $35.5 Billion

American International Group, Inc. announced today a definitive agreement for the sale of the AIA Group, Limited, one of the world's largest pan-Asian life insurance companies, to Prudential plc for approximately $35.5 billion, including approximately $25 billion in cash, $8.5 billion in face value of equity and equity-linked securities, and $2.0 billion in face value of preferred stock of Prudential, subject to closing adjustments.
This deal will provide some of the needed cash AIG sorely needs.

Mar 1 · 10:21:00 AM · Source: Company Press Release
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by Larry Etter

Citigroup (C)

Citigroup Names Zedillo to Board

Citigroup Inc. has named former Mexico President Ernesto Zedillo to its board of directors. Citigroup also said former AT&T Inc. executive Michael Armstrong and Xerox Corp. Chairman Anne M. Mulcahy won’t stand for re-election at the annual shareholder meeting on April 20, Citigroup said today in a statement.
The Citigroup board overhaul continues.

Feb 26 · 10:29:00 AM
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by Larry Etter

Bank of New York Mellon (BK)

BNY Mellon To Acquire CIBC Mellon Trust Business

BNY Mellon said it has signed a definitive agreement to acquire the corporate trust business of CIBC Mellon. The acquisition is expected to close by the end of the
The acquisition will more than double BNY Mellon's share of the corporate trust market in Canada and expand its leadership position in a number of key segments, servicing domestic and cross-border debt issuances, structured credit and securitizations, government stimulus programs and public private partnership transactions.

Feb 17 · 8:40:00 AM · Source: Company Press Release
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by Larry Etter

Simon Property Group (SPG)

Simon Makes $10 Billion Offer for General Growth

Simon Property Group Inc. Tuesday said it has made an offer to acquire General Growth Properties Inc., the real estate investment trust that filed for bankruptcy last year, in a deal valued at over $10 billion, including about $9 billion in cash. The offer includes a consideration to creditors totaling some $7 billion,

Feb 16 · 11:39:00 AM · Source: Company Press Release
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by Larry Etter

Bank of America (BAC)

B of A Announces Global Capital Markets Leaders

Bank of America Merrill Lynch today announced that Alastair Borthwick and Lisa Carnoy have been named co-heads of the company's Global Capital Markets business. This move follows the recent announcement that Bruce Thompson, former head of Global Capital Markets, has been appointed chief risk officer for Bank of America.

Feb 10 · 10:58:00 AM · Source: Company Press Release
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by Larry Etter

Morgan Stanley (MS)

Morgan Stanley Sued for Fraud by Investors in CDO

Morgan Stanley was accused in a lawsuit, filed by the public employees' retirement system of the Virgin Islands, of defrauding investors in a collateralized debt obligation, called the Libertas CDO, by collaborating with ratings companies to place triple-A ratings on the notes.
Morgan Stanley, the sixth-biggest U.S. lender by assets, arranged the offering as it was short-selling almost the entire $1.2 billion worth of assets in the CDO, according to a complaint filed today in federal court in New York. Morgan Stanley was betting the entire investment it was promoting would fail, the public employees' retirement system of the Virgin Islands said in the complaint. The firm achieved its objective.

Jan 1 · 3:26:00 PM · Source: Business Week
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by Michael Oliveto

Goldman Sachs (GS)

Goldman Takes Biggest Share of $923 Mil IPO Fees

Goldman Sachs won the biggest share of the $923 million in fees from U.S. initial public offerings in 2009, while Citigroup Inc. fell out of the top five after its revenue plummeted more than 50%.
Goldman Sachs made $191.6 million helping take 16 companies from Hyatt Hotels Corp. to Cobalt International Energy Inc. public in 2009, an increase of more than 60 percent from 2008, preliminary data compiled by Bloomberg show. Citigroup’s share of fees dropped to $68.3 million, making the New York-based lender the only underwriter that participated in at least $1 billion worth of sales to suffer a decline in revenue.

Jan 1 · 2:28:00 PM · Source: Bloomberg
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by Michael Oliveto

Citigroup (C)

Citigroup Sells BELLSYSTEM24 for $1.1 Billion

Bain Capital Partners LLC announced that it has completed the acquisition of BELLSYSTEM24, Japan's call center operator, from Citigroup Capital Partners Japan Ltd., a subsidiary of Citi.
On November 14, 2009, Citigroup Capital Partners Japan Ltd. had entered into a tender offer agreement with an affiliate of Bain Capital under which it received cash consideration for its 93.5% stake in BELLSYSTEM24. The total transaction was valued at approximately JPY100 billion (equivalent to USD1.1 billion).

Dec 31 · 3:10:00 PM · Source: Reuters
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by Michael Oliveto

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