A look at some must-read news on deals and deal makers around the world
ASX, Singapore equalize terms
Picture an exchange merger where the bigger partner is being forced to make even more concessions to get political approval to buy a smaller, resource-focused exchange in a deal that the parties have been calling a merger of equals. Sound familiar? It's not the TMX Group Inc. and London Stock Exchange PLC transaction -- it's the Singapore Exchange's attempt to combine with Australian exchange operator ASX Ltd.
Under the new terms, the two countries, Singapore and Australia, will have an equal number of directors on the board, with the balance made up on international nominees. Australia also got more promises of spending and governance.
Speaking of exchanges and boards.....
The NYSE Euronext-Deutsche Boerse combination goes to a vote of the companies' boards today, Bloomberg reported. In that transaction, the German side will control 10 of 17 board seats.
Potash's Doyle is running back to Saskatoon
The promises that Potash Corp. of Saskatchewan made to become more involved in its home province are coming to fruition. Bill Doyle, the head of Potash Corp., is once again a homeowner in the city of Saskatoon.
Buffett gives up on losing stake in B of A
Three and a half years and a two-thirds loss later, Warren Buffett has given up on his stake in Bank of America, Bloomberg News reports.
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