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’Snap news
Breaking pre-market news on Tuesday,
- UBS appoints Robert McCann to head new US wealth management unit – statement.
- Yell extends refinancing deadline until October 28 – statement.
- Barratt Developments warns investors that UK post strike could delay requests to take up rights issue allocations – statement.
Banks complete $3bn ConvaTec loan deal
Bankers have completed one of the biggest sales of risky leveraged loans in Europe since the credit crunch in a sign that certain deals can get done despite tumbling prices in the secondary markets. The sale of $2.98bn of loans backing the $4.1bn buy-out in May of ConvaTec,
$100bn in deals sends US equities to fresh highs
It’s just another merger Monday. More than $100bn in deals helped the S&P to a six-year high and the DJIA to another intra-day record of 12,487.9.
Express Scripts, the pharmacy benefits manager, said it had tabled an offer to buy Caremark for $26bn,
Oil consolidation is accelerating, says Lex
The rise of so-called national oil companies has been punctuated by the sound of doors slamming – most in the face of western energy companies, says Lex.
Consolidation is accelerating in the sector – on Monday Statoil and Norsk Hydro announced a deal to integrate their energy businesses,