Bid & Ask


If the shoe fits, buy it. Jones Apparel Group (JNY) is paying a group of private equity investors $180 million for a 55 percent stake in Stuart Weitzman, a maker of high-priced shoes. Jones, which also owns the Nine West, Bandolino, and Joan & David brands of footwear, has committed to buying out founder Stuart Weitzman's remaining 45 percent stake by 2012.


In a sign that New York City's commercial market is rebounding, SL Green Realty (SLG) is using the $576 million in proceeds from the sale of its stake in McGraw-Hill's (MHP) Manhattan headquarters to buy into two office buildings, one at 125 Park Ave. and another at 600 Lexington.

FINANCE - $2.1 mn

The judgment derivatives trader Saleem Khatri won in a contract dispute over an unpaid bonus after he lost his job at Rabobank Nederland. He is one of more than a 100 British bankers who have sued their former employers to recover bonuses and other pay.


Mohamed Al-Fayed, the owner of Harrods, is selling the 161-year-old luxury department store to Qatar Holdings for $2.2 billion. Qatar's sovereign wealth fund is no stranger to British retailing: It's already the largest shareholder in Britain's No. 3 supermarket chain, J Sainsbury.


An auction in India for 93 licenses for high-speed mobile data services is expected to raise more than $12.5 billion. The high figure is fueling concerns that the bidders—including Vodafone Group (VOD) and Bharti Airtel—won't be able to recoup their investments.


India's Vedanta Resources agreed to pay $1.3 billion for a group of zinc mines in Africa and Ireland owned by Anglo American.


SAP (SAP), the world's biggest maker of business-management software, agreed to acquire Sybase (SY) in a transaction valued at $5.8 billion to help fend off competition from Oracle (ORCL). Sybase, based in Dublin, Calif., specializes in software that helps financial institutions analyze information.


Asia's biggest utility, Tokyo Electric Power, is paying $125 million for a 9.2 percent stake in Nuclear Innovation North America, a U.S.-Japanese venture that plans to build nuclear reactors in South Texas.


The price fetched by a 1936 57SC Atlantic coupé, one of only three produced by Bugatti, at a California auction, making it the most expensive car in the world.

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