Cerberus may sell Imperial Hotel stake: Nikkei
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U.S. fund Cerberus Capital Management LP  is likely to sell its stake of about 40 percent in Japan's Imperial Hotel Ltd. , the Nikkei business daily reported in its evening edition on Tuesday.
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Citigroup, the financial giant, is expected to announce an offer to increase its stake in the scandal-tainted Japanese brokerage company the Nikko Cordial Corporation, said a Nikko spokesman, Shigeyuki Teshima. The potential $5 billion deal would mark Citigroupâs resurgence in Japan. Nikko Cordial faces a delisting from the Tokyo stock exchange because of an accounting scandal. According to media reports, the talks are aimed at Citigroup raising its stake in Nikko to above 50 percent, from under 5 percent. A Citigroup spokeswoman, Atsuko Yoshitsugu, declined to comment.
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Ceridian Corp. , whose biggest  shareholder regards a $5.3 billion takeover bid for the  human-resources company as too low, said on Wednesday it would  be prepared to consider other plans to sell itself.
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NYSE Euronext  and Australia's ASX Ltd  may be interested in buying part of Nasdaq Stock Market Inc's 31 percent stake in London Stock Exchange Plc , a person familiar with the matter said on Monday.
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A group led by U.S. investment firm Aetos  Capital LLC has outbid Morgan Stanley  and others by  offering 300 billion yen ($2.7 billion) for a roughly 30  percent stake in Japanese property developer Daito Trust  Construction Co (1878.T), a financial source said on Friday.
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NEW YORK/SYDNEY  - NYSE Euronext  and Australia's ASX Ltd  may be interested in buying part of Nasdaq Stock Market Inc's  31 percent stake in London Stock Exchange Plc , a person familiar with the matter said.
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Banking giant seeks to bolster Tokyo presence by taking control of Nikko Cordial.
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Citigroup  sweetened its takeover  offer for Japan&#39;s Nikko Cordial Corp. (8603.T) on Tuesday,  saying it would pay 1,700 yen a share for the brokerage rather  than the 1,350 yen announced initially.
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TOKYO Wal-Mart Stores is considering taking a stake in the heavily indebted Japanese retailer Daiei, a move that could greatly expand the presence of the world&#39;s largest retailer in the world&#39;s second-largest retail market.
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Citigroup  has raised its stake in  Japanese brokerage Nikko Cordial Corp. (8603.T) to 68 percent  this month from 61 percent, according to a filing to Japan&#39;s  finance ministry.
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NYSE Euronext  and  Australia&#39;s ASX Ltd  may be interested in buying part  of Nasdaq Stock Market Inc&#39;s  31 percent stake in  London Stock Exchange Plc , a person familiar with the  matter said.
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Shares in LNR Property Corp., the real estate development company spun off from Lennar Corp., may rise after the company agreed to be bought by a group led by Cerberus Capital Management LP for $3.
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Citigroup  is likely to list its  Japan banking unit on the Tokyo Stock Exchange as early as  July, an online Japanese magazine said on Friday.
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The largest shareholder in the Nikko Cordial Corporation has rejected a $10.8 billion takeover offer from Citigroup, saying that the price is too low. The shareholder, Harris Associates of Chicago, which manages money for individual and institutional investors, believes that Nikko is worth more than 2,000 yen a share, the chief investment officer, David G. Herro, said. The offer made by Citigroup was for 1,350 yen. The share price of Nikko, which is based in Tokyo, advanced 14 percent before the Citigroup offer was announced on Tuesday and it rose another 1.3 percent yesterday, closing at 1,357 yen a share. Harris owns about 7.5 percent of Nikko.
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The Tokyo Stock Exchange said on Monday it had decided not to strip Nikko Cordial Corp.  of its share listing over an accounting scandal, a surprise decision that could weaken Citigroup's  $10.8 billion takeover bid for the brokerage.
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Shares in Japanese broker Nikko Cordial plunge 14% on fears it may be delisted after an accounting scandal.
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Cerberus Capital Management is near a $4  billion deal to buy United Rentals Inc. , the largest  equipment rental company by fleet size, for $34.50 a share, the  Wall Street Journal reported on Monday.