Blackstone pulls out of bidding for Coles: source
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MELBOURNE/TOKYO  - Buyout firm Blackstone Group  has become the latest to pull out of a consortium bidding for Australian retailer Coles Group Ltd. , a source said, further boosting the prospects of rival suitor Wesfarmers Ltd.
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Arcelor Mittal , the world's  largest steelmaker, said on Sunday it has terminated an  agreement to sell its Sparrows Point, Baltimore facility to E2  Acquisition Corp due to E2's inability to secure financing.
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Wesfarmers Ltd. , which owns Australia's largest hardware chain, has agreed to buy retailer Coles Group Ltd.  for A$20.7 billion ($17.7 billion) in cash and stock, in the country's biggest takeover.
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JPMorgan Chase & Co.  has canceled its auction of assets from two troubled Bear Stearns Cos. Inc.  hedge funds, a source familiar with the matter said on Wednesday.
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Italian eyeglass maker Luxottica Group SPA, which completed its $495 million takeover of Cole National Corp. on Tuesday, said it plans to shift Cole&#39;s 800-employee corporate, administrative and service operations
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TAKEOVER target Australian Leisure &amp; Hospitality had not, by late yesterday, received any type of formal offer from Coles Myer.
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The troubled mortgage giant said it will pull out of a deal to develop a half-a-billion-dollar office complex in Southwest, sparking concern among city planners, developers and brokers.
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Sydney - Australian retailer Coles Myer on Tuesday said it would not raise its bid for pubs operator, Australian Leisure and Hospitality, as rival Woolworths said it had gained more than 20 percent of the company and declared its offer unconditional.
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Shares in Wesfarmers plunged Tuesday, a day after the Perth-based conglomerate agreed to pay 22 billion dollars (18.7 billion US) for retailer Coles in Australia&#39;s largest corporate deal.
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Australian retail giant Coles Myer launched a 1.18 billion dollar (861 million US) bid for pub and liquor store group ALH, trumping a lower offer by rival Woolworths.
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Time Warner Inc. withdrew its bid  for Hollywood film studio Metro-Goldwyn-Mayer on Monday, after  sources said a rival bidder group headlined by Japan's Sony  Corp. raised its offer to nearly $5 billion.
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The withdrawal of private equity  bidders from an auction for Australian retailer Coles Group  Ltd.  has underscored how the demands of increasingly  risk averse borrowers threaten some of the more debt-laden  deals.
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Australia's second-largest retailer Coles Group Ltd.  said on Monday it had agreed a A$22 billion ($18.8 billion) offer from conglomerate Wesfarmers Ltd. , the largest takeover in Australian corporate history.
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Trading in the shares of Australian retailer Coles Group Ltd.  and conglomerate Wesfarmers Ltd.  was halted on Monday for talks on a bid by Wesfarmers for Coles that could be worth up to A$20.7 billion ($17.7 billion).
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ABC has pulled out of the television rights negotiations for the Bowl Championship Series, a source familiar with the talks said Friday.
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Premier Foods Plc pulled out of a  1.7-billion-pound ($3.2 billion) takeover battle for Britain's  United Biscuits on Thursday, leaving U.S. buyout giant  Blackstone Group as the sole known contender.
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Equity Office Properties Trust, the target of the largest real estate takeover, yesterday rejected a $41 billion offer from Vornado Realty Trust, saying a $38.3 billion cash bid by Blackstone Group L.P. is less risky for shareholders.