Citigroup arm may buy stake in Indian broker-paper

(Reuters) - Neither Citigroup nor Sharekhan officials could be
contacted for comment.




The newspaper said that company officials told the paper
that the final structure of the deal would be announced on
Monday.


Read more at Reuters.com Mergers News

FACTBOX-Mergers in the Web advertising sector

(Reuters) - AQuantive, which helps advertisers target online ads and
offers Web site development services, is Microsoft's biggest
acquisition to date. At $66.50 a share, the deal represents an
85 percent premium to aQuantive's closing price on Thursday.




Here is a look at some other transactions in the sector:


Read more at Reuters.com Mergers News

China Automotive targets U.S. automakers, exports

(Reuters) - China Automotive already supplies steering components to two Chinese automakers that are considering exporting to the Unite States and believes the Chinese-built vehicles it supplies could soon be on American roads.




"I'm sure that will happen within the next few years," Robert Tung, a Washington, D.C.-based independent director for CAS told Reuters.


Read more at Reuters.com Business News

Cocoa Rises Most Since March as Waves Threaten Shipping Around Indonesia

(Bloomberg) -- Cocoa in New York rose the most since
March as waves struck coastlines across Indonesia, threatening
to disrupt shipping from the third-largest supplier of the beans
used to make chocolate.

Waves as high as 4 to 5 meters (13 to 16 feet) hit parts of
the islands of Bali, Sumatra and Java, driving residents from
their homes and destroying fishing boats and beachside shacks,
Reuters reported today, citing officials and media reports.


Read more at Bloomberg Commodities News

Sugar Falls, Capping Biggest Weekly Drop This Year as World Surplus Grows

(Bloomberg) -- Sugar fell in New York, capping the
biggest weekly decline this year, on concern that a global
surplus will widen as demand fails to keep pace with rising
supply from India and Brazil, the world's largest producers.

Global production will exceed demand by as much as 9.2
million metric tons in the year ending Sept. 30, according to
the International Sugar Organization in London. The group
estimates output will rise 0.8 percent in Brazil to the
equivalent of 32.72 million tons of raw sugar, a record, and
India's will jump 33 percent to 27.75 million, the group said.


Read more at Bloomberg Commodities News

Trading in AQuantive Options Jumped Before $6 Billion Sale to Microsoft

(Bloomberg) -- Trading in options to buy shares of
aQuantive Inc. rose yesterday before the online advertiser, long
the subject of takeover speculation, agreed to be acquired by
Microsoft Corp. for $6 billion.

An option to buy aQuantive shares for $35 by today's
expiration deadline jumped tenfold yesterday to $1. The price of
the option surged almost 29-fold today after Microsoft offered to
buy aQuantive for $66.50 a share, sparking a 78 percent rally in
the stock.


Read more at Bloomberg Stocks News

Home Solutions shares rise after unit gets $100 mln contract

(Reuters) - Home Solutions, which provides restoration, construction and interior services, had revenue of $127.2 million in 2006.




Home Solutions said it expects construction under these contracts, which are collectively the largest in the company's history, to be completed by 2009.


Read more at Reuters.com Hot Stocks News

Canadian Stocks Head For a Third Week of Gains on Takeovers, Oil Prices

(Bloomberg) -- Canadian stocks were headed for a
third week of gains as rising oil prices and takeover speculation
fueled a rally in phone and energy companies including BCE Inc.
and Canadian Natural Resources Ltd.

The Standard & Poor's/TSX Composite Index was little changed
today, slipping from a record, as interest-rate sensitive
financial shares declined on speculation a near 30-year high in
the Canadian dollar may lead the central bank to raise borrowing
costs in an attempt to slow inflation.


Read more at Bloomberg Stocks News

Vector, PIK, Realia Seek $8.8 Billion in Biggest European Real Estate IPOs

(Bloomberg) -- Vector Hospitality Plc, a U.K. hotel
owner, PIK Group, a Russian apartment builder, and Realia Business
SA, a Spanish developer, announced plans today to raise as much as
$8.8 billion in the three biggest initial public offerings by
European property companies.

Vector is seeking as much as 2.5 billion pounds ($4.94
billion) and will use the money to buy 71 hotels, it said in a
statement today. PIK wants to raise up to $2.2 billion to help
finance construction of apartments and offices with 10 million
square meters of space. Realia's owners are looking for as much as
1.28 billion euros ($1.73 billion) to fund acquisitions.


Read more at Bloomberg Stocks News

Home Solutions, Juniper, Sepracor, TierOne, TriMas: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Shares prices are as of 11:30 a.m. New York time.

AQuantive Inc. (AQNT US) rose $27.73, or 77 percent, to
$63.60 and traded as high as $63.90. Microsoft Corp. (MSFT US)
agreed to buy the owner of the largest independent online-
advertising agency in a transaction valued at about $6 billion to
expand its online advertising services. AQuantive shareholders
will receive $66.50 in cash, Microsoft said in a statement,
almost double the company's last closing share price.


Read more at Bloomberg Stocks News

Alsea, Cemex, Itau, Petrobras, Walmex: Latin American Equity Market Movers

(Bloomberg) -- Mexico's main stock index rose to a
record for a third day, led by mobile-phone company American
Movil SAB.

The Bolsa index gained 234.25, or 0.8 percent, to 30,712.62
at 11:29 a.m. New York time, a new high. The Bovespa index of the
most-traded stocks on the Sao Paulo exchange fell 15.19 to
51,616.28.


Read more at Bloomberg Stocks News

European stocks extend gains to more than 1 pct

(Reuters) - European shares set a fresh six-and-a-half year high on Friday, extending gains on the day to more than 1 percent following strong early trading in the United States.

At 1426 GMT, the FTSEurofirst 300 index of top European shares was up 1.03 percent at 1,601.22 points, having earlier hit a high of 1,602.40, its highest level since December 13, 2000.


Read more at Reuters Africa

Freddie Mac to sell $4.5 billion bills on Monday

(Reuters) - -- $2.5 billion of three-month bills due Aug. 20, 2007 to
be sold Monday and settle Tuesday; and




-- $2.0 billion of six-month bills due Nov. 19, 2007 to be
sold Monday and settle Tuesday.


Read more at Reuters.com Bonds News

U.S. Urges Chinese Policy Makers to User Wider Band to Let the Yuan Gain

(Bloomberg) -- The U.S. Treasury and urged Chinese
policy makers to use the wider trading band for their currency to
allow the yuan to rise faster.

``This is a useful step towards greater flexibility and an
eventual float of the currency,'' Alan Holmer, the Treasury's top
China official, told reporters in Washington. ``It's important
now that Chinese authorities use the wider band and allow greater
currency movement within each day and over time.''


Read more at Bloomberg Currencies News

Kenyan shilling firms to 4-year high vs dollar

(Reuters) - Kenya's shilling hit its strongest level against the dollar in four years on Friday and dealers said the outlook is bullish.

At 1225 GMT commercial banks quoted the shilling at 66.85/95 against the U.S. currency compared with Thursday's close of 66.95/67.05.


Read more at Reuters Africa

Chile's D&S raised to "buy" by Merrill Lynch/Celfin

(Reuters) - "We believe the combination of potential synergies spanning
procurement, back office, financial services, organic
expansion, and best practices, with arguably the strongest
consumption environment in Latin America, shapes a compelling
investment thesis," Merrill Lynch said in a statement.




Read more at Reuters.com Mergers News

U.S. Stocks Rise on Takeover Speculation; Intel, General Electric Advance

(Bloomberg) -- U.S. stocks rose after analysts
upgraded Intel Corp. and investors speculated the record pace of
mergers and acquisitions will accelerate.

General Electric Co. gained on expectations the world's
biggest maker of medical-imaging machines will sell its plastics
unit to Saudi Basic Industries Corp. for about $11 billion.
AQuantive Inc. surged after agreeing to be acquired by Microsoft
Corp. for about $6 billion to expand the online advertising
services of the world's largest producer of software.


Read more at Bloomberg Stocks News

Chile's LAN raises $181 mln in share offering

(Reuters) - On Friday the company sold 11.2 million shares at 8,401
pesos per share.




Read more at Reuters.com Market News

Microsoft says aQuantive is big bet on advertising

(Reuters) - "It is a big bet on advertising monetization for the long
term," Johnson told investors on a conference call.




Microsoft expects the deal, its largest ever, to close in
its upcoming 2008 fiscal year, following antitrust and other
regulatory approvals, officials said in a conference call
following news of the deal.


Read more at Reuters.com Mergers News

Intel Gains After Merrill Upgrades Shares, JPMorgan Says Demand is `Fine'

(Bloomberg) -- Intel Corp. gained as much as 2.4
percent after Merrill Lynch & Co. recommended that investors buy
shares of the world's largest semiconductor maker and increased
its earnings estimates for the company in 2008.

In a separate note by JPMorgan, Intel Chief Financial
Officer Andy Bryant told analysts that demand for its computer
chips was ``fine'' so far this year.


Read more at Bloomberg Stocks News

TREASURIES-Bonds rise as traders take back some recent losses

(Reuters) - Bond prices have fallen through the week, and yields risen,
with the benchmark yield hitting a one-month high on Thursday
as traders pared back their expectations the Federal Reserve
will cut benchmark interest rates later this year.




While interest rate expectations have been adjusted
according to economic data, a rising stock market this week has
also undermined bond prices. Stock futures rose again on
Friday.


Read more at Reuters.com Bonds News

UPDATE 1-Starent says IPO of 9 mln shares priced at $9-$11/shr

(Reuters) - The Tewksbury, Massachusetts-based company said in an
amended filing with the U.S. Securities and Exchange Commission
that Goldman Sachs & Co., Lehman Brothers, JP Morgan Chase &
Co., and Thomas Weisel Partners LLC were underwriting the IPO.




The company said it plans to give underwriters the option
to purchase up to an additional 1.6 million shares.


Read more at Reuters.com Bonds News

GE close to finalizing plastics sale to Sabic: report

(Reuters) - "This is an auction so the interest of GE shareholders is paramount," said the source.




"Sabic wants to become one of the top three petro-chemical firms in the world and there aren't many ways to go about that," the source said. "GE Chemical is a logical step for Sabic."


Read more at Reuters.com Business News

Preem Gothenburg Refinery's Resumption Delayed Until Early June After Fire

(Bloomberg) -- Preem Petroleum AB, a Swedish oil
refiner, said its Gothenburg refinery won't resume full production
for 10 days, not seven, as workers repair the damage a fire caused
at a heating-oil production unit.

``We think the delay will be 10 days instead of seven,'' said
Preem spokesman Thomas Oegren. Once it starts up in early June, the
plant will run at ``one or a few weeks of reduced capacity.'' The
refinery was scheduled to begin full production May 25.


Read more at Bloomberg Energy News

Platinum, Palladium Gain on Speculation That Demand in China May Increase

(Bloomberg) -- Platinum and palladium gained in
London on speculation economic growth will spur demand for
automobiles in China, the fastest-growing market for both
metals.

China's spending on factories, roads and other
infrastructure climbed more than 25 percent in the first four
months this year, exceeding last year's growth rate, the
National Bureau of Statistics said.


Read more at Bloomberg Commodities News

Czech Central Banker Singer Says Time for Rate Increase Is Approaching

(Bloomberg) -- The Czech central bank may soon raise
the benchmark interest rate, the lowest in the European Union,
because anti-inflationary influences such as the strength of the
koruna ``have faded away,'' said Deputy Governor Miroslav Singer.

Rate-setters, who maintained the two-week repurchase rate at
2.5 percent for seven months, can no longer ignore quickening
consumer-price growth and the effect of higher borrowing costs
abroad, Singer said in a May 16 interview in Prague.


Read more at Bloomberg Emerging Markets News

UPDATE 2 - Dubai-led fund may buy stake in EADS

(Reuters) - DIC first expressed interested in EADS last year.




"It's not dead," Sameer al-Ansari, DIC's chief executive,
told Reuters on the sidelines of a Middle East economic
conference in Jordan. "We are continuing to do due diligence."


Read more at Reuters.com Bonds News

Telefonica Bonds Set to Outperform on Earnings Growth, BNP Paribas Says

(Bloomberg) -- Investors buying Telefonica SA bonds may profit because the strength of Europe's second largest telephone company's earnings will offset any concerns about the level of its debt, according to analysts at BNP Paribas SA.

Madrid-based Telefonica said on May 16 that first quarter profit rose 7.7 percent to 1.26 billion euros ($1.7 billion) boosted by the growth of broadband services in Spain and the acquisition of U.K. mobile phone operator O2 Plc.


Read more at Bloomberg Bonds News

Philips raises $2.56 bln selling TSMC stake

(Reuters) - The stake sale adds to Philips' cash pile -- it ended the first quarter with 5.9 billion euros in cash -- and the company has said it is looking at acquisitions as well as returning cash to shareholders.

Philips Electronics said on Friday it will book a non-taxable gain of about 1.22 billion euros in its second-quarter results from the sale of shares, which represent a 4.6 percent stake in TSMC, based on Reuters calculations.


Read more at Reuters.com Business News

Glitch delays coal deliveries to S.Africa terminal

(Reuters) - Some 100,000 tonnes of coal has failed to reach the Richards Bay Coal Terminal (RBCT) after a computer failure on Wednesday night that blocked trains from being loaded at mines, Spoornet said on Friday.

The computer glitch at the terminal was fixed on Thursday afternoon but a backlog of undelivered coal has built up, Spoornet spokesman Mike Asefovitz said.


Read more at Reuters Africa

Alfa, Empresa Brasileira, Aeroportuario del Sureste: Latin Equity Preview

(Bloomberg) -- The following stocks may make significant gains or losses in Brazil and Mexico today. Symbols are in parentheses after the company name, and stock prices are from the last session.

In Brazil, preferred shares are the most commonly traded class of stock.


Read more at Bloomberg Stocks News

UPDATE 1-Japan's DaVinci to launch $635 mln bid for TOC

(Reuters) - DaVinci, which already owns about 10 percent of TOC, said it would offer 1,100 yen per share in the tender from May 21 to July 18. It expects to pay 77 billion yen to raise its stake to 61 percent.

TOC, which manages buildings in the Tokyo area and leases them to wholesale and retail companies, had launched its own tender from April 9 to May 11 via a fund led by TOC President Takuo Otani, aiming to go private in a management buyout.


Read more at Reuters.com Mergers News

U.K. FTSE 100 Advances; Cadbury Schweppes, BP and Shell Lead Gains

(Bloomberg) -- U.K. stocks rose, led by Cadbury Schweppes Plc. Shares of BP Plc and Royal Dutch Shell Plc also increased.

The benchmark FTSE 100 Index added 19.10, or 0.3 percent, to 6598.40 as of 8:13 a.m. in London. The FTSE All-Share Index added 0.2 percent to 3428.54. Ireland's ISEQ Index gained 0.1 percent to 9582.87.


Read more at Bloomberg Stocks News

New Clicks buys back 10.9 mln shares

(Reuters) - South African retailer New Clicks has bought back 10.89 million shares or 3.06 percent of its own shares for 146.76 million rand, the firm said on Friday.

New Clicks said it bought back the shares between February 7 and May 16, funding the purchases from available cash.


Read more at Reuters Africa

UPDATE 1-Nippon Oil says it, M'bishi buy US Gulf oilfield stake

(Reuters) - The two companies each have an 11.6 percent stake. The acquisition reduced Anadarko's stake in the field to 41.8 percent, Nippon Oil said. The field is producing 40,000 barrels per day worth of crude oil and natural gas and the deal would give the two firms a right to about 9,300 barrels per day of output, Nippon Oil said in a statement.




Read more at Reuters.com Mergers News