MANAGEMENT IS INDISPENSABLE Whoever makes two blades of grass grow where only one grew before deserves better of mankind than any speculative philosopher or metaphysical system builder.
** Canada’s Whitecap Resources Inc and at least three other companies have submitted final-round bids for Cenovus Energy Inc’s Weyburn oil facility in a deal that could fetch about C$1 billion ($782 million), people familiar with the situation said on Tuesday.
** Australia-listed James Hardie Industries Plc said it would buy the German holding company of fiber gypsum board maker Fermacell GmbH from Xella International SA in a deal worth 473 million euros ($548 million).
** A Qatari investor is selling a 5 percent stake in top Indian telecoms carrier Bharti Airtel for about 95 billion rupees ($1.46 billion), adding to the sanctions-hit Gulf nation’s recent stake sales in foreign companies.
** Viacom Inc’s Paramount Pictures said a $1 billion films-funding deal with China’s Huahua Media has been scrapped after the Asian nation tightened foreign investment policies, the latest Hollywood-China tie-up to unravel due to Beijing’s scrutiny.
** Britain’s SSE and Germany’s Innogy agreed to merge their retail activities in Britain, cutting Britain’s big six energy providers to five and kicking off what is expected to be biggest European sector shakeout in years.
** China’s commerce ministry said it has granted conditional approval for Maersk Line’s planned acquisition of Hamburg Sud.
** China’s Tencent now holds a 12 percent stake in Snapchat operator Snap Inc, Snap said, turning over a 20 percent slide in the U.S. company’s share price after badly received third-quarter results.
** U.S private equity firm Stonepeak Infrastructure Partners’ acquisition of a majority stake in UK-headquartered internet service provider euNetworks will be backed with a 300 million euro leveraged loan, banking sources said. (Compiled by Diptendu Lahiri in Bengaluru)
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P.S. We still love Unicorns (.JPG by CB Insight 2017-09-18)