No Picture
Trading Ideas

GE's Capital 'Permanently Impaired' by M&A Pattern, First Eagle Says

Jun.25 — Matthew McLennan, head of global value team at First Eagle Investment, discusses General Electric’s M&A strategy as the company agrees to sell its industrial gas-engine business to Advent International in a $3.25 billion deal. He speaks with Bloomberg’s Vonnie Quinn on “Bloomberg Markets.” …read more […]

No Picture
Trading Ideas

U.S. Supreme Court backs American Express in merchant fee dispute

The U.S. Supreme Court on Monday sided with American Express Co and against 11 states, ruling that the company’s policy of forbidding merchants from encouraging customers to use rival credit cards with lower fees does not violate federal antitrust law. Spurning states that had sued American Express, the justices upheld a lower court decision that had cleared the company of unlawfully stifling competition through so-called anti-steering provisions in its contracts with merchants. Shares of American Express moved higher after the ruling and were last up 2.2 percent at $99.41. …read more […]

No Picture
Trading Ideas

Advent to acquire GE’s distributed power business for $3.25 billion

U.S. buyout group Advent has agreed to buy General Electric’s (GE) (GE.N) distributed power operations for $3.25 billion, the companies said on Monday. GE had put the unit, which includes the reciprocating gas engine brands GE Jenbacher and Waukesha, up for sale to bolster its finances. The U.S. conglomerate had announced plans to divest about $20 billion in assets as part of a three-year restructuring plan, hoping to book as much as $10 billion in proceeds from selling industrial assets this year. …read more […]